Stitch Fix, Inc. (NASDAQ:SFIX) Given Consensus Recommendation of “Reduce” by Analysts

Stitch Fix, Inc. (NASDAQ:SFIX) has been assigned a consensus recommendation of “Reduce” from the eleven research firms that are currently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $3.27.

Several analysts recently issued reports on SFIX shares. UBS Group reduced their price target on shares of Stitch Fix from $3.80 to $2.80 and set a “neutral” rating for the company in a research report on Friday, October 11th. Canaccord Genuity Group reduced their price target on shares of Stitch Fix from $4.50 to $3.50 and set a “hold” rating for the company in a research report on Wednesday, September 25th. Finally, Telsey Advisory Group restated a “market perform” rating and set a $4.00 price objective on shares of Stitch Fix in a research note on Wednesday, September 25th.

Institutional Investors Weigh In On Stitch Fix

Hedge funds have recently made changes to their positions in the business. Los Angeles Capital Management LLC raised its stake in Stitch Fix by 673.2% in the 1st quarter. Los Angeles Capital Management LLC now owns 516,782 shares of the company’s stock valued at $1,364,000 after acquiring an additional 449,948 shares during the period. Hodges Capital Management Inc. bought a new stake in Stitch Fix in the 1st quarter valued at about $1,716,000. Allspring Global Investments Holdings LLC raised its stake in Stitch Fix by 116.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 22,378 shares of the company’s stock valued at $59,000 after acquiring an additional 12,028 shares during the period. BNP Paribas Financial Markets raised its stake in Stitch Fix by 37.0% in the 1st quarter. BNP Paribas Financial Markets now owns 116,405 shares of the company’s stock valued at $307,000 after acquiring an additional 31,442 shares during the period. Finally, Tectonic Advisors LLC bought a new stake in Stitch Fix in the 1st quarter valued at about $379,000. 71.04% of the stock is currently owned by institutional investors.

Stitch Fix Trading Up 1.4 %

NASDAQ SFIX opened at $2.99 on Wednesday. The company has a fifty day simple moving average of $3.32 and a 200 day simple moving average of $3.28. Stitch Fix has a 12-month low of $2.06 and a 12-month high of $5.05. The company has a market cap of $379.25 million, a P/E ratio of -2.77 and a beta of 1.90.

Stitch Fix (NASDAQ:SFIX) last posted its quarterly earnings results on Tuesday, September 24th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.19) by $0.07. Stitch Fix had a negative net margin of 9.63% and a negative return on equity of 40.62%. The business had revenue of $319.55 million during the quarter, compared to the consensus estimate of $317.48 million. Sell-side analysts predict that Stitch Fix will post -0.55 EPS for the current year.

About Stitch Fix

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.