Stitch Fix (NASDAQ:SFIX) PT Lowered to $3.50 at Wedbush

Stitch Fix (NASDAQ:SFIX) had its target price dropped by research analysts at Wedbush from $4.50 to $3.50 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm presently has a “neutral” rating on the stock. Wedbush’s target price would indicate a potential upside of 14.75% from the company’s current price.

Several other equities analysts also recently issued reports on the stock. Barclays reduced their price target on shares of Stitch Fix from $4.00 to $3.00 and set an “equal weight” rating for the company in a report on Tuesday. Telsey Advisory Group reduced their target price on shares of Stitch Fix from $5.00 to $4.00 and set a “market perform” rating for the company in a research note on Tuesday. One investment analyst has rated the stock with a sell rating and fourteen have assigned a hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $4.40.

Stitch Fix Stock Down 5.6 %

SFIX opened at $3.05 on Tuesday. The company’s 50-day moving average price is $4.12 and its 200 day moving average price is $4.10. Stitch Fix has a fifty-two week low of $2.63 and a fifty-two week high of $6.03. The firm has a market cap of $347.00 million, a price-to-earnings ratio of -1.41 and a beta of 2.24.

Stitch Fix (NASDAQ:SFIX) last announced its quarterly earnings results on Monday, September 18th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.03). The company had revenue of $375.80 million during the quarter, compared to the consensus estimate of $371.24 million. Stitch Fix had a negative return on equity of 63.69% and a negative net margin of 13.74%. The company’s revenue for the quarter was down 22.0% on a year-over-year basis. During the same period last year, the business posted ($0.65) EPS. Research analysts anticipate that Stitch Fix will post -1.18 earnings per share for the current year.

Insider Activity

In other Stitch Fix news, insider Casey O’connor sold 9,262 shares of the business’s stock in a transaction dated Thursday, July 20th. The shares were sold at an average price of $4.21, for a total value of $38,993.02. Following the sale, the insider now directly owns 284,346 shares in the company, valued at $1,197,096.66. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 28.51% of the company’s stock.

Institutional Trading of Stitch Fix

Hedge funds and other institutional investors have recently made changes to their positions in the business. WealthPLAN Partners LLC bought a new stake in Stitch Fix during the first quarter worth approximately $31,000. Public Employees Retirement System of Ohio lifted its position in shares of Stitch Fix by 64.0% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 6,515 shares of the company’s stock valued at $26,000 after acquiring an additional 2,543 shares during the last quarter. Creative Planning bought a new stake in shares of Stitch Fix during the 4th quarter worth $32,000. B. Riley Wealth Advisors Inc. acquired a new position in shares of Stitch Fix in the 4th quarter worth $32,000. Finally, American Century Companies Inc. acquired a new stake in shares of Stitch Fix during the first quarter worth $52,000. 67.49% of the stock is currently owned by institutional investors.

Stitch Fix Company Profile

Stitch Fix, Inc sells a range of apparel, shoes, and accessories for men, women, and kids through its website and mobile application in the United States and the United Kingdom. It offers denim, dresses, blouses, skirts, shoes, jewelry, and handbags under the Stitch Fix brand. The company was formerly known as rack habit inc.