Stitch Fix (NASDAQ:SFIX) Upgraded by Wall Street Zen to “Buy” Rating

Wall Street Zen upgraded shares of Stitch Fix (NASDAQ:SFIX) from a hold rating to a buy rating in a research note published on Saturday morning.

Separately, Telsey Advisory Group reaffirmed a “market perform” rating and issued a $6.00 price target on shares of Stitch Fix in a research note on Wednesday.

Stitch Fix Price Performance

Stitch Fix stock opened at $3.96 on Friday. The stock has a market capitalization of $510.04 million, a PE ratio of -4.77 and a beta of 2.00. Stitch Fix has a 12 month low of $2.21 and a 12 month high of $6.99. The business has a 50 day simple moving average of $3.79 and a 200-day simple moving average of $4.20.

Stitch Fix (NASDAQ:SFIX) last posted its quarterly earnings data on Wednesday, June 11th. The company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.05. Stitch Fix had a negative return on equity of 32.71% and a negative net margin of 7.71%. Stitch Fix’s revenue for the quarter was up .7% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.18) earnings per share. On average, equities research analysts anticipate that Stitch Fix will post -0.44 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Casey O’connor sold 50,000 shares of the stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $3.04, for a total value of $152,000.00. Following the transaction, the insider now owns 575,755 shares in the company, valued at approximately $1,750,295.20. This represents a 7.99% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Working Capital Advisors (Uk) sold 1,370,931 shares of Stitch Fix stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $4.68, for a total transaction of $6,415,957.08. Following the sale, the insider now owns 10,608,822 shares in the company, valued at $49,649,286.96. This represents a 11.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. 16.95% of the stock is owned by company insiders.

Institutional Trading of Stitch Fix

A number of hedge funds have recently added to or reduced their stakes in the stock. Cooper Creek Partners Management LLC lifted its holdings in shares of Stitch Fix by 1,405.2% in the 4th quarter. Cooper Creek Partners Management LLC now owns 4,273,265 shares of the company’s stock valued at $18,418,000 after buying an additional 3,989,362 shares during the period. Jacobs Levy Equity Management Inc. grew its position in shares of Stitch Fix by 142.9% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 2,464,863 shares of the company’s stock valued at $10,624,000 after purchasing an additional 1,449,941 shares during the period. Nuveen LLC purchased a new stake in shares of Stitch Fix in the first quarter valued at $4,159,000. Norges Bank acquired a new position in Stitch Fix in the fourth quarter valued at $3,183,000. Finally, Two Sigma Investments LP boosted its holdings in Stitch Fix by 300.4% in the fourth quarter. Two Sigma Investments LP now owns 911,349 shares of the company’s stock valued at $3,928,000 after acquiring an additional 683,751 shares during the last quarter. 71.04% of the stock is owned by institutional investors and hedge funds.

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.