Stitch Fix Inc (NASDAQ:SFIX) has earned an average recommendation of “Hold” from the thirteen ratings firms that are presently covering the stock, MarketBeat reports. Eight investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $31.00.
A number of analysts recently weighed in on the stock. Zacks Investment Research lowered shares of Stitch Fix from a “buy” rating to a “hold” rating in a report on Thursday, October 4th. Wells Fargo & Co dropped coverage on shares of Stitch Fix in a report on Tuesday, October 2nd. Stifel Nicolaus raised their price target on shares of Stitch Fix from $26.00 to $30.00 and gave the company a “hold” rating in a report on Tuesday, October 2nd. KeyCorp lowered their target price on shares of Stitch Fix from $53.00 to $45.00 and set an “overweight” rating for the company in a report on Tuesday, October 2nd. Finally, Piper Jaffray Companies set a $31.00 target price on shares of Stitch Fix and gave the stock a “hold” rating in a report on Tuesday, October 2nd.
Shares of Stitch Fix stock traded down $0.46 during midday trading on Friday, reaching $27.11. The company had a trading volume of 226,314 shares, compared to its average volume of 2,434,435. The firm has a market cap of $2.73 billion and a P/E ratio of 69.51. Stitch Fix has a 1-year low of $14.48 and a 1-year high of $52.44.
Stitch Fix (NASDAQ:SFIX) last issued its quarterly earnings results on Monday, October 1st. The company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.14. The business had revenue of $318.30 million during the quarter, compared to analyst estimates of $318.93 million. Stitch Fix had a net margin of 3.66% and a return on equity of 19.95%. The company’s quarterly revenue was up 23.2% on a year-over-year basis. Equities analysts anticipate that Stitch Fix will post 0.13 earnings per share for the current fiscal year.
In other news, major shareholder Barry Eggers sold 31,886 shares of Stitch Fix stock in a transaction 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Mike C. Smith sold 25,000 shares of Stitch Fix stock in a transaction on Monday, October 15th. The stock was sold at an average price of $25.72, for a total transaction of $643,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 491,507 shares of company stock valued at $14,531,514 in the last ninety days.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Eidelman Virant Capital bought a new position in shares of Stitch Fix during the second quarter worth $2,663,000. Essex Investment Management Co. LLC bought a new position in shares of Stitch Fix during the third quarter worth $306,000. Zevenbergen Capital Investments LLC boosted its position in shares of Stitch Fix by 63.4% during the second quarter. Zevenbergen Capital Investments LLC now owns 67,220 shares of the company’s stock worth $1,845,000 after purchasing an additional 26,070 shares in the last quarter. Pier Capital LLC boosted its position in shares of Stitch Fix by 52.8% during the second quarter. Pier Capital LLC now owns 307,150 shares of the company’s stock worth $8,428,000 after purchasing an additional 106,101 shares in the last quarter. Finally, Bank of Montreal Can boosted its position in shares of Stitch Fix by 74.5% during the third quarter. Bank of Montreal Can now owns 117,245 shares of the company’s stock worth $5,132,000 after purchasing an additional 50,050 shares in the last quarter. 21.45% of the stock is currently 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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