Stitch Fix, Inc. (NASDAQ:SFIX) Receives Average Recommendation of "Reduce" from Analysts

Stitch Fix, Inc. (NASDAQ:SFIX - Get Free Report) has been assigned a consensus rating of "Reduce" from the six brokerages that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $4.50.

Separately, Telsey Advisory Group reiterated a "market perform" rating and issued a $6.00 price objective on shares of Stitch Fix in a report on Wednesday, March 12th.

Insiders Place Their Bets

In other news, insider Casey O'connor sold 50,000 shares of the company's stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $3.04, for a total value of $152,000.00. Following the completion of the transaction, the insider now owns 575,755 shares in the company, valued at $1,750,295.20. This represents a 7.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 16.95% of the company's stock.

Institutional Investors Weigh In On Stitch Fix

Several institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. raised its stake in shares of Stitch Fix by 72.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 161,225 shares of the company's stock valued at $455,000 after purchasing an additional 67,892 shares during the period. Savant Capital LLC acquired a new position in Stitch Fix during the 4th quarter worth approximately $79,000. Rhumbline Advisers raised its holdings in shares of Stitch Fix by 1.5% in the fourth quarter. Rhumbline Advisers now owns 149,625 shares of the company's stock valued at $645,000 after purchasing an additional 2,255 shares during the last quarter. Ieq Capital LLC acquired a new position in Stitch Fix during the fourth quarter worth $299,000. Finally, Bank of New York Mellon Corp grew its position in Stitch Fix by 7.5% in the fourth quarter. Bank of New York Mellon Corp now owns 258,299 shares of the company's stock valued at $1,113,000 after purchasing an additional 17,943 shares in the last quarter. 71.04% of the stock is owned by institutional investors.

Stitch Fix Price Performance

Stitch Fix stock remained flat at $4.39 during trading hours on Thursday. 1,456,243 shares of the company's stock were exchanged, compared to its average volume of 2,497,435. The company has a market cap of $565.42 million, a price-to-earnings ratio of -5.29 and a beta of 2.00. Stitch Fix has a 52 week low of $2.21 and a 52 week high of $6.99. The business's fifty day moving average price is $3.51 and its 200 day moving average price is $4.17.

Stitch Fix (NASDAQ:SFIX - Get Free Report) last announced its quarterly earnings data on Tuesday, March 11th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.11) by $0.06. The firm had revenue of $312.11 million for the quarter, compared to analysts' expectations of $298.04 million. Stitch Fix had a negative net margin of 7.71% and a negative return on equity of 32.71%. The business's revenue for the quarter was down 5.5% on a year-over-year basis. During the same period last year, the firm earned ($0.29) earnings per share. On average, analysts forecast that Stitch Fix will post -0.44 EPS for the current fiscal year.

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.