Brokerages Set Stitch Fix, Inc. (NASDAQ:SFIX) Price Target at $5.00

Shares of Stitch Fix, Inc. (NASDAQ:SFIX) have received a consensus recommendation of “Reduce” from the five analysts that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating and four have given a hold rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $5.00.

Several brokerages recently issued reports on SFIX. Weiss Ratings restated a “sell (d-)” rating on shares of Stitch Fix in a report on Tuesday, April 21st. UBS Group cut their price target on shares of Stitch Fix from $6.00 to $4.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 3rd. Telsey Advisory Group cut their price target on shares of Stitch Fix from $6.00 to $5.00 and set a “market perform” rating on the stock in a research note on Thursday, March 12th. Wall Street Zen lowered shares of Stitch Fix from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Finally, William Blair reiterated a “mixed” rating on shares of Stitch Fix in a research note on Friday, March 6th.

Insider Transactions at Stitch Fix

In other Stitch Fix news, CFO David Aufderhaar sold 65,709 shares of the business’s stock in a transaction dated Tuesday, April 7th. The shares were sold at an average price of $3.09, for a total transaction of $203,040.81. Following the sale, the chief financial officer directly owned 1,178,037 shares in the company, valued at $3,640,134.33. This represents a 5.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Casey O’connor sold 60,000 shares of the business’s stock in a transaction dated Friday, April 10th. The stock was sold at an average price of $3.08, for a total transaction of $184,800.00. Following the sale, the insider owned 480,334 shares in the company, valued at $1,479,428.72. This trade represents a 11.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 16.09% of the stock is owned by corporate insiders.

Institutional Trading of Stitch Fix

A number of institutional investors and hedge funds have recently bought and sold shares of SFIX. Working Capital Advisors UK Ltd. grew its position in shares of Stitch Fix by 15.9% during the third quarter. Working Capital Advisors UK Ltd. now owns 11,046,077 shares of the company’s stock worth $48,050,000 after buying an additional 1,512,475 shares in the last quarter. State of Michigan Retirement System grew its position in shares of Stitch Fix by 122.3% during the third quarter. State of Michigan Retirement System now owns 726,983 shares of the company’s stock worth $3,162,000 after buying an additional 400,000 shares in the last quarter. Hodges Capital Management Inc. grew its position in shares of Stitch Fix by 20.0% during the third quarter. Hodges Capital Management Inc. now owns 1,737,556 shares of the company’s stock worth $7,558,000 after buying an additional 289,905 shares in the last quarter. Diversified Trust Co. grew its position in shares of Stitch Fix by 29.8% during the fourth quarter. Diversified Trust Co. now owns 40,179 shares of the company’s stock worth $211,000 after buying an additional 9,224 shares in the last quarter. Finally, Hudson Bay Capital Management LP acquired a new position in shares of Stitch Fix during the third quarter worth about $61,000. 71.04% of the stock is currently owned by hedge funds and other institutional investors.

Stitch Fix Trading Down 0.6%

Shares of SFIX opened at $3.33 on Monday. The firm has a market cap of $454.61 million, a P/E ratio of -25.62 and a beta of 2.33. Stitch Fix has a 12-month low of $2.95 and a 12-month high of $5.94. The company’s 50-day moving average price is $3.41 and its 200 day moving average price is $4.12.

Stitch Fix (NASDAQ:SFIX) last issued its quarterly earnings data on Wednesday, March 11th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.03. The firm had revenue of $341.30 million for the quarter, compared to analyst estimates of $334.74 million. Stitch Fix had a negative net margin of 1.89% and a negative return on equity of 12.23%. Stitch Fix’s revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.05) EPS. Equities research analysts forecast that Stitch Fix will post -0.19 earnings per share for the current year.

About Stitch Fix

Stitch Fix, Inc, headquartered in San Francisco, California, is a leading online personal styling service that blends data science with human expertise to deliver curated clothing and accessory selections. Founded in 2011 by Katrina Lake, the company pioneered a subscription-based model in which customers receive periodic “Fixes” tailored to their personal style, size and budget. Each shipment arrives with several handpicked items along with styling notes, allowing clients to review, purchase and return pieces at their convenience.

Clients begin by completing an online style profile that captures their measurements, design preferences and lifestyle needs.