Stitch Fix, Inc. (NASDAQ:SFIX) Receives $3.45 Average PT from Brokerages

Shares of Stitch Fix, Inc. (NASDAQ:SFIX) have been assigned a consensus recommendation of “Reduce” from the twelve analysts that are presently covering the company, Marketbeat reports. Two analysts have rated the stock with a sell recommendation and ten have assigned a hold recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $3.45.

SFIX has been the subject of a number of recent analyst reports. Truist Financial upped their target price on Stitch Fix from $3.50 to $4.00 and gave the stock a “hold” rating in a research report on Wednesday, June 5th. Canaccord Genuity Group upped their target price on Stitch Fix from $3.50 to $4.50 and gave the stock a “hold” rating in a research report on Thursday, June 27th. UBS Group upped their target price on Stitch Fix from $2.80 to $3.80 and gave the stock a “neutral” rating in a research report on Monday, July 8th. Mizuho increased their price objective on Stitch Fix from $2.00 to $3.00 and gave the company an “underperform” rating in a research report on Monday, June 10th. Finally, Wedbush reissued a “neutral” rating and issued a $3.00 price objective on shares of Stitch Fix in a research report on Wednesday, June 5th.

Insiders Place Their Bets

In other Stitch Fix news, insider Anthony Bacos sold 42,381 shares of Stitch Fix stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $4.13, for a total transaction of $175,033.53. Following the completion of the transaction, the insider now directly owns 627,957 shares of the company’s stock, valued at $2,593,462.41. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Stitch Fix news, insider Anthony Bacos sold 42,381 shares of Stitch Fix stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $4.13, for a total transaction of $175,033.53. Following the completion of the transaction, the insider now directly owns 627,957 shares of the company’s stock, valued at $2,593,462.41. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Sarah Barkema sold 30,000 shares of Stitch Fix stock in a transaction on Friday, June 7th. The shares were sold at an average price of $3.74, for a total value of $112,200.00. Following the transaction, the chief accounting officer now directly owns 108,535 shares of the company’s stock, valued at $405,920.90. The disclosure for this sale can be found here. Insiders sold 656,663 shares of company stock worth $3,213,892 over the last three months. 25.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Hodges Capital Management Inc. lifted its holdings in shares of Stitch Fix by 286.2% during the second quarter. Hodges Capital Management Inc. now owns 2,511,100 shares of the company’s stock valued at $10,421,000 after acquiring an additional 1,860,950 shares during the period. Rhumbline Advisers raised its holdings in shares of Stitch Fix by 15.2% in the second quarter. Rhumbline Advisers now owns 146,676 shares of the company’s stock valued at $609,000 after buying an additional 19,367 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Stitch Fix by 20.0% in the second quarter. Bank of New York Mellon Corp now owns 314,625 shares of the company’s stock valued at $1,306,000 after buying an additional 52,538 shares during the last quarter. GYL Financial Synergies LLC raised its holdings in shares of Stitch Fix by 44.0% in the second quarter. GYL Financial Synergies LLC now owns 193,214 shares of the company’s stock valued at $802,000 after buying an additional 59,025 shares during the last quarter. Finally, Pallas Capital Advisors LLC bought a new position in shares of Stitch Fix in the second quarter valued at about $48,000. 71.04% of the stock is owned by institutional investors.

Stitch Fix Stock Performance

Shares of NASDAQ SFIX opened at $3.60 on Friday. The stock has a market cap of $440.42 million, a price-to-earnings ratio of -3.53 and a beta of 1.97. The business has a 50 day simple moving average of $3.98 and a 200 day simple moving average of $3.14. Stitch Fix has a 52 week low of $2.06 and a 52 week high of $5.05.

Stitch Fix (NASDAQ:SFIX) last announced its earnings results on Tuesday, June 4th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.10. The firm had revenue of $322.73 million during the quarter, compared to analysts’ expectations of $305.93 million. Stitch Fix had a negative return on equity of 41.40% and a negative net margin of 8.68%. On average, analysts predict that Stitch Fix will post -0.73 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.