Analysts Set Stitch Fix, Inc. (NASDAQ:SFIX) PT at $3.96

Stitch Fix, Inc. (NASDAQ:SFIX) has received a consensus rating of “Reduce” from the nine ratings firms that are presently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation and seven have given a hold recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $3.96.

A number of brokerages recently commented on SFIX. UBS Group increased their price target on Stitch Fix from $2.80 to $5.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. Telsey Advisory Group increased their price target on Stitch Fix from $4.00 to $6.00 and gave the company a “market perform” rating in a research report on Wednesday, December 11th. Finally, Canaccord Genuity Group raised their target price on Stitch Fix from $5.00 to $6.00 and gave the stock a “hold” rating in a research report on Wednesday, December 11th.

Stitch Fix Trading Down 7.0 %

Shares of SFIX opened at $5.02 on Tuesday. The company has a market capitalization of $636.74 million, a price-to-earnings ratio of -6.05 and a beta of 1.99. The stock has a 50 day moving average of $4.72 and a 200 day moving average of $3.99. Stitch Fix has a 12 month low of $2.06 and a 12 month high of $6.99.

Stitch Fix (NASDAQ:SFIX) last issued its quarterly earnings results on Tuesday, December 10th. The company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.09. The company had revenue of $318.82 million during the quarter, compared to the consensus estimate of $306.88 million. Stitch Fix had a negative return on equity of 32.71% and a negative net margin of 7.71%. Stitch Fix’s revenue was down 12.6% on a year-over-year basis. During the same period last year, the business posted ($0.30) earnings per share. As a group, equities research analysts predict that Stitch Fix will post -0.44 earnings per share for the current year.

Insider Activity

In other news, insider Anthony Bacos sold 16,720 shares of Stitch Fix stock in a transaction on Friday, December 13th. The stock was sold at an average price of $4.61, for a total value of $77,079.20. Following the completion of the transaction, the insider now directly owns 913,962 shares in the company, valued at approximately $4,213,364.82. The trade was a 1.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Katrina Lake sold 725,002 shares of Stitch Fix stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $5.78, for a total value of $4,190,511.56. The disclosure for this sale can be found here. 16.95% of the stock is owned by company insiders.

Hedge Funds Weigh In On Stitch Fix

Hedge funds have recently made changes to their positions in the stock. SBI Securities Co. Ltd. purchased a new position in shares of Stitch Fix in the fourth quarter valued at $29,000. Pallas Capital Advisors LLC bought a new stake in Stitch Fix during the fourth quarter valued at $46,000. Caprock Group LLC bought a new stake in Stitch Fix during the third quarter valued at $33,000. Wealth Enhancement Advisory Services LLC bought a new stake in Stitch Fix during the third quarter valued at $36,000. Finally, Bellecapital International Ltd. bought a new stake in Stitch Fix during the fourth quarter valued at $55,000. 71.04% of the stock is currently owned by hedge funds and other institutional investors.

About Stitch Fix

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.