Stitch Fix (NASDAQ:SFIX) Trading Up 9.3% – Time to Buy?

Stitch Fix, Inc. (NASDAQ:SFIX) rose 9.3% during trading on Wednesday . The company traded as high as $5.28 and last traded at $5.27. Approximately 1,703,453 shares traded hands during mid-day trading, a decline of 42% from the average daily volume of 2,912,497 shares. The stock had previously closed at $4.82.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Canaccord Genuity Group raised their price target on shares of Stitch Fix from $5.00 to $6.00 and gave the stock a “hold” rating in a research note on Wednesday, December 11th. UBS Group raised their target price on shares of Stitch Fix from $2.80 to $5.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. Finally, Telsey Advisory Group lifted their price target on shares of Stitch Fix from $4.00 to $6.00 and gave the company a “market perform” rating in a research note on Wednesday, December 11th. Two equities research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. According to MarketBeat, Stitch Fix currently has an average rating of “Hold” and an average target price of $3.96.

Stitch Fix Stock Performance

The firm’s fifty day moving average price is $4.37 and its 200 day moving average price is $3.88. The firm has a market cap of $640.53 million, a P/E ratio of -6.08 and a beta of 1.99.

Stitch Fix (NASDAQ:SFIX) last issued its quarterly earnings data on Tuesday, December 10th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.09. The company had revenue of $318.82 million for the quarter, compared to analyst estimates of $306.88 million. Stitch Fix had a negative net margin of 7.71% and a negative return on equity of 32.71%. Stitch Fix’s revenue was down 12.6% compared to the same quarter last year. During the same period last year, the company posted ($0.30) earnings per share. As a group, analysts expect that Stitch Fix, Inc. will post -0.44 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Stitch Fix news, insider Anthony Bacos sold 16,720 shares of the stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $4.61, for a total transaction of $77,079.20. Following the completion of the sale, the insider now directly owns 913,962 shares of the company’s stock, valued at approximately $4,213,364.82. This represents a 1.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Katrina Lake sold 725,002 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $5.78, for a total transaction of $4,190,511.56. The disclosure for this sale can be found here. 16.95% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Stitch Fix

A number of large investors have recently made changes to their positions in SFIX. Creative Planning boosted its position in shares of Stitch Fix by 32.1% in the 3rd quarter. Creative Planning now owns 25,477 shares of the company’s stock worth $72,000 after purchasing an additional 6,194 shares in the last quarter. Federated Hermes Inc. boosted its holdings in Stitch Fix by 7.7% in the second quarter. Federated Hermes Inc. now owns 94,624 shares of the company’s stock worth $393,000 after acquiring an additional 6,739 shares in the last quarter. Pallas Capital Advisors LLC purchased a new stake in shares of Stitch Fix during the fourth quarter worth about $46,000. Virtus Investment Advisers Inc. increased its holdings in shares of Stitch Fix by 11.1% during the third quarter. Virtus Investment Advisers Inc. now owns 117,185 shares of the company’s stock valued at $330,000 after acquiring an additional 11,735 shares in the last quarter. Finally, Caprock Group LLC purchased a new position in shares of Stitch Fix in the 3rd quarter valued at approximately $33,000. 71.04% of the stock is owned by institutional investors and hedge funds.

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.