Stitch Fix, Inc. (NASDAQ:SFIX) Receives $5.67 Average Price Target from Brokerages

Key Points

• Stitch Fix, Inc. has received an average recommendation of "Hold" from analysts, with four firms giving a hold rating and one issuing a buy rating.
• The stock has experienced significant insider selling, with Director Katrina Lake selling 151,150 shares for over $760,000, indicating possible concerns among insiders about the company's future performance.
• Stitch Fix reported a quarterly EPS of ($0.06), exceeding expectations, yet still grapples with a negative return on equity and fluctuating revenue growth.

Shares of Stitch Fix, Inc. (NASDAQ:SFIX - Get Free Report) have been given an average rating of "Hold" by the five ratings firms that are covering the firm, MarketBeat.com reports. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $5.6667.

Several brokerages have commented on SFIX. William Blair upgraded Stitch Fix from a "market perform" rating to an "outperform" rating in a research note on Monday, July 14th. Wall Street Zen lowered Stitch Fix from a "buy" rating to a "hold" rating in a research note on Sunday, June 22nd. Zacks Research upgraded Stitch Fix to a "hold" rating in a research note on Monday, August 11th. Finally, Telsey Advisory Group restated a "market perform" rating and set a $6.00 price target on shares of Stitch Fix in a research note on Wednesday, June 11th.

Insider Buying and Selling

In other news, Director Katrina Lake sold 151,150 shares of the stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $5.03, for a total value of $760,284.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Casey O'connor sold 31,248 shares of the stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $5.34, for a total value of $166,864.32. Following the completion of the sale, the insider owned 498,621 shares of the company's stock, valued at approximately $2,662,636.14. This trade represents a 5.90% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 957,536 shares of company stock worth $4,845,302 in the last ninety days. 16.95% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. State of Wyoming boosted its holdings in Stitch Fix by 170.4% in the second quarter. State of Wyoming now owns 68,243 shares of the company's stock valued at $252,000 after purchasing an additional 43,001 shares during the last quarter. Nomura Holdings Inc. bought a new position in Stitch Fix during the 2nd quarter worth approximately $462,000. Tower Research Capital LLC TRC lifted its holdings in Stitch Fix by 171.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 36,553 shares of the company's stock worth $135,000 after buying an additional 23,066 shares during the last quarter. Captrust Financial Advisors lifted its holdings in Stitch Fix by 14.5% during the 2nd quarter. Captrust Financial Advisors now owns 500,326 shares of the company's stock worth $1,851,000 after buying an additional 63,348 shares during the last quarter. Finally, Shay Capital LLC bought a new position in Stitch Fix during the 2nd quarter worth approximately $3,570,000. Hedge funds and other institutional investors own 71.04% of the company's stock.

Stitch Fix Stock Performance

NASDAQ SFIX traded up $0.20 during trading hours on Wednesday, hitting $5.67. 466,540 shares of the company's stock were exchanged, compared to its average volume of 2,173,632. The business's 50 day moving average is $4.93 and its 200-day moving average is $4.17. Stitch Fix has a 12-month low of $2.21 and a 12-month high of $6.99. The firm has a market capitalization of $739.23 million, a P/E ratio of -12.31 and a beta of 2.03.

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.