Brokerages Set Stitch Fix, Inc. (NASDAQ:SFIX) PT at $3.16

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

A number of brokerages recently commented on SFIX. Wedbush reduced their price objective on shares of Stitch Fix from $4.00 to $3.00 and set a "neutral" rating for the company in a research report on Tuesday, March 5th. Mizuho assumed coverage on Stitch Fix in a report on Tuesday, March 19th. They set an "underperform" rating and a $2.00 price objective on the stock. Piper Sandler reduced their target price on Stitch Fix from $3.00 to $2.25 and set an "underweight" rating for the company in a report on Tuesday, March 5th. Truist Financial lowered their price target on shares of Stitch Fix from $4.00 to $3.50 and set a "hold" rating on the stock in a research note on Tuesday, March 5th. Finally, Sanford C. Bernstein reduced their price objective on shares of Stitch Fix from $4.00 to $3.40 and set a "market perform" rating for the company in a research note on Tuesday, March 5th.

Stitch Fix Stock Performance

Stitch Fix stock traded down $0.04 during mid-day trading on Friday, reaching $2.35. 770,240 shares of the company were exchanged, compared to its average volume of 1,205,902. Stitch Fix has a twelve month low of $2.06 and a twelve month high of $5.20. The firm's 50-day simple moving average is $2.32 and its two-hundred day simple moving average is $3.07. The firm has a market cap of $282.40 million, a PE ratio of -2.28 and a beta of 1.94.

Stitch Fix (NASDAQ:SFIX - Get Free Report) last announced its quarterly earnings data on Monday, March 4th. The company reported ($0.21) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.21). The company had revenue of $330.40 million for the quarter, compared to analysts' expectations of $331.73 million. Stitch Fix had a negative net margin of 8.29% and a negative return on equity of 39.98%. As a group, equities research analysts anticipate that Stitch Fix will post -0.81 EPS for the current year.

Insider Buying and Selling

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SFIX. Vanguard Group Inc. raised its position in shares of Stitch Fix by 4.1% in the third quarter. Vanguard Group Inc. now owns 5,856,137 shares of the company's stock valued at $20,204,000 after buying an additional 231,975 shares during the last quarter. Maple Rock Capital Partners Inc. acquired a new position in Stitch Fix in the 1st quarter valued at $8,994,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Stitch Fix by 5.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,021,885 shares of the company's stock worth $7,218,000 after purchasing an additional 99,914 shares during the period. Kent Lake Capital LLC acquired a new stake in shares of Stitch Fix during the third quarter worth $2,932,000. Finally, Hodges Capital Management Inc. purchased a new stake in shares of Stitch Fix in the first quarter valued at $1,716,000. 71.04% of the stock is currently owned by hedge funds and other institutional investors.

Stitch Fix Company Profile

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.