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

Stitch Fix (NASDAQ:SFIX) had its price target dropped by equities research analysts at Robert W. Baird from $5.00 to $3.50 in a note issued to investors on Tuesday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Robert W. Baird’s price target would indicate a potential upside of 14.75% from the stock’s previous close.

SFIX has been the topic of several other research reports. Barclays reduced their price target on shares of Stitch Fix from $4.00 to $3.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Telsey Advisory Group decreased their target price on Stitch Fix from $5.00 to $4.00 and set a “market perform” rating for the company in a report on Tuesday. Finally, Wedbush dropped their price target on shares of Stitch Fix from $4.50 to $3.50 and set a “neutral” rating on the stock in a research note on Tuesday. One research analyst has rated the stock with a sell rating and fourteen have given a hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $4.40.

Stitch Fix Stock Down 5.6 %

SFIX opened at $3.05 on Tuesday. The company has a market cap of $347.00 million, a price-to-earnings ratio of -1.41 and a beta of 2.24. The firm’s fifty day simple moving average is $4.12 and its two-hundred day simple moving average is $4.10. Stitch Fix has a 52-week low of $2.63 and a 52-week high of $6.03.

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

Insider Buying and Selling

In other Stitch Fix news, insider Casey O’connor sold 9,262 shares of the company’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 transaction, the insider now directly owns 284,346 shares in the company, valued at approximately $1,197,096.66. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 28.51% of the stock is currently owned by company insiders.

Institutional Trading of Stitch Fix

Several institutional investors have recently made changes to their positions in SFIX. Public Employees Retirement System of Ohio lifted its stake in shares of Stitch Fix by 64.0% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 6,515 shares of the company’s stock valued at $26,000 after purchasing an additional 2,543 shares in the last quarter. WealthPLAN Partners LLC purchased a new position in Stitch Fix in the first quarter valued at about $31,000. B. Riley Wealth Advisors Inc. acquired a new position in shares of Stitch Fix during the fourth quarter worth about $32,000. Creative Planning acquired a new position in shares of Stitch Fix during the fourth quarter worth about $32,000. Finally, Oak Thistle LLC purchased a new stake in shares of Stitch Fix in the second quarter worth about $42,000. 67.49% of the stock is owned by hedge funds and other 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.