Wall Street brokerages forecast that Stitch Fix Inc (NASDAQ:SFIX) will announce $432.10 million in sales for the current quarter, Zacks reports. Seven analysts have issued estimates for Stitch Fix’s earnings, with the highest sales estimate coming in at $435.00 million and the lowest estimate coming in at $427.00 million. Stitch Fix reported sales of $318.30 million during the same quarter last year, which would suggest a positive year over year growth rate of 35.8%. The business is scheduled to announce its next quarterly earnings results on Monday, October 7th.
On average, analysts expect that Stitch Fix will report full year sales of $1.58 billion for the current year, with estimates ranging from $1.57 billion to $1.58 billion. For the next year, analysts expect that the firm will post sales of $1.92 billion, with estimates ranging from $1.86 billion to $1.96 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that follow Stitch Fix.
Stitch Fix (NASDAQ:SFIX) last posted its earnings results on Wednesday, June 5th. The company reported $0.07 EPS for the quarter, beating the consensus estimate of ($0.03) by $0.10. The firm had revenue of $409.00 million for the quarter, compared to analysts’ expectations of $395.06 million. Stitch Fix had a return on equity of 13.77% and a net margin of 3.27%. The firm’s revenue was up 29.1% compared to the same quarter last year. During the same period last year, the firm earned $0.09 EPS.
SFIX has been the subject of a number of research reports. JPMorgan Chase & Co. set a €49.00 ($56.98) price target on Deutsche Wohnen and gave the company a “buy” rating in a research note on Thursday, June 6th. Zacks Investment Research lowered Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Saturday, June 8th. Stifel Nicolaus lowered Viveve Medical from a “buy” rating to a “hold” rating and decreased their price target for the company from $3.00 to $1.00 in a research note on Monday. Needham & Company LLC reaffirmed a “buy” rating and set a $40.00 price target on shares of ACADIA Pharmaceuticals in a research note on Monday, July 1st. Finally, TheStreet raised Stitch Fix from a “d” rating to a “c-” rating in a research note on Wednesday, June 26th. Seven research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $35.50.
In other news, major shareholder Steven M. Spurlock sold 223,029 shares of the firm’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $28.46, for a total value of $6,347,405.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Scott Darling sold 2,000 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $27.08, for a total value of $54,160.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,032,037 shares of company stock valued at $29,723,567. Corporate insiders own 56.97% of the company’s stock.
Large investors have recently bought and sold shares of the company. California Public Employees Retirement System raised its position in Stitch Fix by 1,668.7% in the 4th quarter. California Public Employees Retirement System now owns 87,444 shares of the company’s stock worth $1,494,000 after purchasing an additional 82,500 shares during the last quarter. BlackRock Inc. grew its position in shares of Stitch Fix by 54.7% during the 4th quarter. BlackRock Inc. now owns 381,752 shares of the company’s stock worth $6,525,000 after purchasing an additional 134,984 shares in the last quarter. Commonwealth Equity Services LLC grew its position in shares of Stitch Fix by 77.5% during the 4th quarter. Commonwealth Equity Services LLC now owns 28,786 shares of the company’s stock worth $491,000 after purchasing an additional 12,567 shares in the last quarter. Advisor Group Inc. grew its position in shares of Stitch Fix by 39.5% during the 4th quarter. Advisor Group Inc. now owns 9,541 shares of the company’s stock worth $163,000 after purchasing an additional 2,701 shares in the last quarter. Finally, Northern Trust Corp grew its position in shares of Stitch Fix by 60.7% during the 4th quarter. Northern Trust Corp now owns 48,009 shares of the company’s stock worth $820,000 after purchasing an additional 18,133 shares in the last quarter. Institutional investors own 29.24% of the company’s stock.
NASDAQ SFIX traded up $0.50 on Tuesday, reaching $27.57. 118,919 shares of the stock traded hands, compared to its average volume of 3,206,570. The stock’s fifty day moving average price is $29.46. The company has a market capitalization of $2.69 billion, a P/E ratio of 70.72, a price-to-earnings-growth ratio of 3.77 and a beta of 3.24. Stitch Fix has a 12 month low of $16.05 and a 12 month high of $52.44.
About Stitch Fix
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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