Stitch Fix, Inc. (NASDAQ:SFIX) Receives $3.16 Average Target Price from Analysts

Stitch Fix, Inc. (NASDAQ:SFIX) has earned an average recommendation of “Reduce” from the twelve brokerages that are presently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation and ten have issued a hold recommendation on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $3.16.

A number of analysts have recently weighed in on the stock. Mizuho assumed coverage on shares of Stitch Fix in a report on Tuesday, March 19th. They issued an “underperform” rating and a $2.00 price target on the stock. UBS Group assumed coverage on shares of Stitch Fix in a research report on Monday, April 8th. They issued a “neutral” rating and a $2.80 price objective for the company. Wells Fargo & Company decreased their price objective on shares of Stitch Fix from $3.50 to $3.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 5th. Wedbush decreased their price objective on shares of Stitch Fix from $4.00 to $3.00 and set a “neutral” rating for the company in a research report on Tuesday, March 5th. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and issued a $4.00 price objective on shares of Stitch Fix in a research report on Tuesday, March 5th.

Insiders Place Their Bets

In other news, CAO Sarah Barkema sold 16,311 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $2.24, for a total transaction of $36,536.64. Following the sale, the chief accounting officer now owns 138,535 shares of the company’s stock, valued at approximately $310,318.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 25.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Stitch Fix

A number of institutional investors have recently added to or reduced their stakes in SFIX. Kent Lake Capital LLC acquired a new stake in Stitch Fix in the 3rd quarter valued at $2,932,000. Hodges Capital Management Inc. acquired a new stake in Stitch Fix during the 1st quarter worth $1,716,000. Los Angeles Capital Management LLC boosted its stake in Stitch Fix by 673.2% during the 1st quarter. Los Angeles Capital Management LLC now owns 516,782 shares of the company’s stock worth $1,364,000 after purchasing an additional 449,948 shares during the last quarter. Essex Investment Management Co. LLC acquired a new stake in Stitch Fix during the 3rd quarter worth $1,182,000. Finally, Vanguard Group Inc. boosted its stake in Stitch Fix by 4.1% during the 3rd quarter. Vanguard Group Inc. now owns 5,856,137 shares of the company’s stock worth $20,204,000 after purchasing an additional 231,975 shares during the last quarter. Institutional investors and hedge funds own 71.04% of the company’s stock.

Stitch Fix Stock Performance

NASDAQ:SFIX opened at $2.16 on Wednesday. Stitch Fix has a fifty-two week low of $2.06 and a fifty-two week high of $5.20. The stock has a market capitalization of $259.57 million, a P/E ratio of -2.10 and a beta of 1.90. The company’s 50-day simple moving average is $2.61 and its 200-day simple moving average is $3.18.

Stitch Fix (NASDAQ:SFIX) last released its quarterly earnings results on Monday, March 4th. The company reported ($0.21) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.21). Stitch Fix had a negative net margin of 8.29% and a negative return on equity of 39.98%. The business had revenue of $330.40 million for the quarter, compared to analysts’ expectations of $331.73 million. On average, research analysts forecast that Stitch Fix will post -0.81 EPS for the current year.

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.