Stitch Fix, Inc. (NASDAQ:SFIX) Given Average Recommendation of "Reduce" by Brokerages

Shares of Stitch Fix, Inc. (NASDAQ:SFIX - Get Free Report) have been given an average rating of "Reduce" by the twelve ratings firms that are covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation and ten have assigned a hold recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $3.16.

A number of analysts have recently issued reports on SFIX shares. Mizuho started coverage on shares of Stitch Fix in a research report on Tuesday, March 19th. They issued an "underperform" rating and a $2.00 price target for the company. Piper Sandler dropped their price objective on Stitch Fix from $3.00 to $2.25 and set an "underweight" rating on the stock in a report on Tuesday, March 5th. Telsey Advisory Group restated a "market perform" rating and issued a $4.00 price objective on shares of Stitch Fix in a report on Tuesday, March 5th. Canaccord Genuity Group dropped their price objective on Stitch Fix from $4.00 to $3.50 and set a "hold" rating on the stock in a report on Tuesday, March 5th. Finally, Wells Fargo & Company dropped their price objective on Stitch Fix from $3.50 to $3.00 and set an "equal weight" rating on the stock in a report on Tuesday, March 5th.

Stitch Fix Stock Performance

Shares of NASDAQ:SFIX traded up $0.08 during trading hours on Wednesday, hitting $2.25. 1,270,938 shares of the company's stock traded hands, compared to its average volume of 1,572,000. Stitch Fix has a 52 week low of $2.06 and a 52 week high of $5.20. The company's fifty day simple moving average is $2.67 and its two-hundred day simple moving average is $3.20. The company has a market cap of $270.38 million, a price-to-earnings ratio of -2.15 and a beta of 1.90.

Stitch Fix (NASDAQ:SFIX - Get Free Report) last posted its quarterly earnings data on Monday, March 4th. The company reported ($0.21) EPS for the quarter, meeting analysts' consensus estimates of ($0.21). Stitch Fix had a negative net margin of 8.29% and a negative return on equity of 39.98%. The company had revenue of $330.40 million during the quarter, compared to analyst estimates of $331.73 million. On average, analysts anticipate that Stitch Fix will post -0.81 EPS for the current fiscal year.

Insider Buying and Selling at Stitch Fix

In other Stitch Fix news, CAO Sarah Barkema sold 16,311 shares of the stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $2.24, for a total transaction of $36,536.64. Following the transaction, the chief accounting officer now owns 138,535 shares in the company, valued at $310,318.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 25.90% of the company's stock.

Institutional Investors Weigh In On Stitch Fix

Several hedge funds and other institutional investors have recently modified their holdings of SFIX. Kent Lake Capital LLC acquired a new stake in shares of Stitch Fix in the third quarter worth $2,932,000. Hodges Capital Management Inc. acquired a new stake in shares of Stitch Fix in the first quarter worth $1,716,000. Los Angeles Capital Management LLC grew its stake in shares of Stitch Fix by 673.2% in the first quarter. Los Angeles Capital Management LLC now owns 516,782 shares of the company's stock worth $1,364,000 after acquiring an additional 449,948 shares during the last quarter. Essex Investment Management Co. LLC acquired a new stake in shares of Stitch Fix in the third quarter worth $1,182,000. Finally, Vanguard Group Inc. lifted its position in Stitch Fix by 4.1% in the third quarter. Vanguard Group Inc. now owns 5,856,137 shares of the company's stock worth $20,204,000 after purchasing an additional 231,975 shares during the period. Institutional investors and hedge funds own 71.04% of the company's stock.

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.