Analysts Set Stitch Fix, Inc. (NASDAQ:SFIX) Price Target at $3.27

Shares of Stitch Fix, Inc. (NASDAQ:SFIX) have earned a consensus recommendation of “Reduce” from the eleven brokerages that are presently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation and nine have given a hold recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $3.27.

SFIX has been the topic of a number of research reports. UBS Group lowered their target price on Stitch Fix from $3.80 to $2.80 and set a “neutral” rating on the stock in a research report on Friday, October 11th. Canaccord Genuity Group dropped their price objective on shares of Stitch Fix from $4.50 to $3.50 and set a “hold” rating on the stock in a research note on Wednesday, September 25th. Finally, Telsey Advisory Group reissued a “market perform” rating and set a $4.00 target price on shares of Stitch Fix in a research report on Wednesday, September 25th.

Stitch Fix Trading Down 3.7 %

SFIX opened at $3.60 on Friday. The company has a fifty day moving average price of $3.25 and a two-hundred day moving average price of $3.42. Stitch Fix has a 1-year low of $2.06 and a 1-year high of $5.05. The company has a market cap of $456.62 million, a P/E ratio of -3.33 and a beta of 1.87.

Stitch Fix (NASDAQ:SFIX) last issued its earnings results on Tuesday, September 24th. The company reported ($0.12) EPS for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.07. The business had revenue of $319.55 million during the quarter, compared to analyst estimates of $317.48 million. Stitch Fix had a negative return on equity of 40.62% and a negative net margin of 9.63%. On average, research analysts forecast that Stitch Fix will post -0.61 EPS for the current fiscal year.

Hedge Funds Weigh In On Stitch Fix

Several hedge funds have recently modified their holdings of SFIX. Disciplined Growth Investors Inc. MN grew its holdings in shares of Stitch Fix by 34.9% in the second quarter. Disciplined Growth Investors Inc. MN now owns 9,273,817 shares of the company’s stock valued at $38,486,000 after acquiring an additional 2,396,920 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in Stitch Fix by 116.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 22,378 shares of the company’s stock valued at $59,000 after purchasing an additional 12,028 shares during the period. CWM LLC increased its position in shares of Stitch Fix by 132.5% during the 2nd quarter. CWM LLC now owns 11,867 shares of the company’s stock valued at $49,000 after purchasing an additional 6,762 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in shares of Stitch Fix during the 1st quarter worth $259,000. Finally, Hodges Capital Management Inc. boosted its holdings in shares of Stitch Fix by 286.2% in the 2nd quarter. Hodges Capital Management Inc. now owns 2,511,100 shares of the company’s stock worth $10,421,000 after buying an additional 1,860,950 shares during the last quarter. Institutional investors own 71.04% of the company’s stock.

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.