Equities analysts predict that Stitch Fix Inc (NASDAQ:SFIX) will announce earnings of $0.04 per share for the current quarter, according to Zacks Investment Research. Seven analysts have issued estimates for Stitch Fix’s earnings, with the highest EPS estimate coming in at $0.05 and the lowest estimate coming in at $0.03. Stitch Fix posted earnings per share of $0.17 in the same quarter last year, which indicates a negative year over year growth rate of 76.5%. The company is scheduled to announce its next quarterly earnings results on Monday, October 7th.
On average, analysts expect that Stitch Fix will report full-year earnings of $0.32 per share for the current fiscal year, with EPS estimates ranging from $0.31 to $0.34. For the next fiscal year, analysts forecast that the company will post earnings of $0.27 per share, with EPS estimates ranging from $0.10 to $0.35. Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that cover Stitch Fix.
Stitch Fix (NASDAQ:SFIX) last released its quarterly earnings data on Wednesday, June 5th. The company reported $0.07 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.03) by $0.10. Stitch Fix had a net margin of 3.27% and a return on equity of 13.77%. The firm had revenue of $409.00 million for the quarter, compared to the consensus estimate of $395.06 million. During the same quarter in the prior year, the company posted $0.09 earnings per share. The business’s revenue was up 29.1% on a year-over-year basis.
Several research firms have weighed in on SFIX. Goldman Sachs Group upgraded shares of Stitch Fix from a “neutral” rating to a “buy” rating and set a $38.00 price objective on the stock in a report on Friday, July 12th. Zacks Investment Research downgraded shares of Stitch Fix from a “buy” rating to a “hold” rating in a report on Saturday, August 3rd. JPMorgan Chase & Co. upped their price objective on shares of Stitch Fix from $30.00 to $34.00 and gave the stock a “neutral” rating in a report on Thursday, June 6th. SunTrust Banks upped their price objective on shares of Stitch Fix from $43.00 to $44.00 and gave the stock a “buy” rating in a report on Thursday, June 6th. Finally, Needham & Company LLC began coverage on shares of Stitch Fix in a report on Monday, July 1st. They set a “hold” rating on the stock. Eight research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $35.50.
In other news, CEO Katrina Lake sold 100,000 shares of the company’s stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $28.26, for a total value of $2,826,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Alexandre Balkanski sold 191,332 shares of the company’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $28.05, for a total transaction of $5,366,862.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,030,037 shares of company stock valued at $29,669,407. Company insiders own 56.97% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of SFIX. BlackRock Inc. grew its stake in shares of Stitch Fix by 562.1% in the 2nd quarter. BlackRock Inc. now owns 2,605,848 shares of the company’s stock worth $83,361,000 after acquiring an additional 2,212,289 shares in the last quarter. Baillie Gifford & Co. grew its stake in shares of Stitch Fix by 23.3% in the 2nd quarter. Baillie Gifford & Co. now owns 4,488,246 shares of the company’s stock worth $143,580,000 after acquiring an additional 849,117 shares in the last quarter. Jackson Square Partners LLC grew its stake in shares of Stitch Fix by 26.8% in the 1st quarter. Jackson Square Partners LLC now owns 3,399,181 shares of the company’s stock worth $95,958,000 after acquiring an additional 719,063 shares in the last quarter. Marshall Wace LLP grew its stake in shares of Stitch Fix by 2,125.9% in the 2nd quarter. Marshall Wace LLP now owns 507,025 shares of the company’s stock worth $16,220,000 after acquiring an additional 484,247 shares in the last quarter. Finally, Steadfast Capital Management LP grew its stake in shares of Stitch Fix by 16.3% in the 2nd quarter. Steadfast Capital Management LP now owns 2,234,029 shares of the company’s stock worth $71,467,000 after acquiring an additional 313,296 shares in the last quarter. Hedge funds and other institutional investors own 29.83% of the company’s stock.
SFIX traded up $0.43 during trading on Monday, hitting $20.68. 1,892,500 shares of the company’s stock were exchanged, compared to its average volume of 2,649,310. The business’s 50 day moving average is $26.92 and its two-hundred day moving average is $26.70. Stitch Fix has a fifty-two week low of $16.05 and a fifty-two week high of $52.44. The stock has a market cap of $2.10 billion, a P/E ratio of 53.03, a PEG ratio of 3.44 and a beta of 3.20.
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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