Stitch Fix Inc (NASDAQ:SFIX) has earned an average recommendation of “Hold” from the thirteen brokerages that are presently covering the firm, Marketbeat Ratings reports. Eight analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $31.00.
A number of equities research analysts have recently issued reports on the stock. SunTrust Banks began coverage on shares of Stitch Fix in a report on Friday, August 10th. They set a “buy” rating and a $38.00 price target on the stock. Zacks Investment Research lowered shares of Stitch Fix from a “buy” rating to a “hold” rating in a research note on Thursday, October 4th. KeyCorp dropped their price objective on shares of Stitch Fix from $53.00 to $45.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 2nd. Piper Jaffray Companies lowered shares of Stitch Fix from an “overweight” rating to a “neutral” rating and upped their price objective for the company from $29.00 to $43.00 in a research note on Thursday, September 20th. Finally, Wells Fargo & Co began coverage on shares of Stitch Fix in a research note on Thursday, August 2nd. They issued a “market perform” rating and a $30.00 price objective on the stock.
Shares of SFIX stock traded down $0.75 during trading hours on Friday, reaching $26.26. 1,431,700 shares of the stock traded hands, compared to its average volume of 2,019,764. Stitch Fix has a 1-year low of $14.48 and a 1-year high of $52.44. The firm has a market capitalization of $2.72 billion and a P/E ratio of 67.33.
Stitch Fix (NASDAQ:SFIX) last released its quarterly earnings results on Monday, October 1st. The company reported $0.18 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.14. Stitch Fix had a net margin of 3.66% and a return on equity of 19.95%. The business had revenue of $318.30 million for the quarter, compared to analyst estimates of $318.93 million. The business’s quarterly revenue was up 23.2% compared to the same quarter last year. Equities research analysts predict that Stitch Fix will post 0.13 EPS for the current fiscal year.
In other Stitch Fix news, CEO Katrina Lake sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, August 20th. The shares were sold at an average price of $32.82, for a total value of $1,641,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Barry Eggers sold 31,886 shares of the company’s stock in a transaction that occurred on Friday, August 31st. The shares were sold at an average price of $40.88, for a total transaction of $1,303,499.68. The disclosure for this sale can be found here. In the last quarter, insiders sold 491,507 shares of company stock worth $14,531,514.
A number of hedge funds have recently bought and sold shares of SFIX. Northern Trust Corp bought a new stake in Stitch Fix in the first quarter worth approximately $389,000. Russell Investments Group Ltd. bought a new stake in Stitch Fix in the first quarter worth approximately $533,000. Stifel Financial Corp bought a new stake in Stitch Fix in the first quarter worth approximately $477,000. Millennium Management LLC bought a new stake in Stitch Fix in the first quarter worth approximately $296,000. Finally, WIM Asset Management HK Ltd bought a new stake in Stitch Fix in the second quarter worth approximately $2,470,000. 21.45% of the stock is owned by institutional investors.
Stitch Fix Company Profile
Stitch Fix, Inc sells a range of apparel, shoes, and accessories through its Website and mobile app in the United States. It offers denim, dresses, blouses, skirts, shoes, jewelry, and handbags for men, women, and kids under the Stitch Fix brand. The company was formerly known as rack habit inc. and changed its name to Stitch Fix, Inc in October 2011.
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