Stitch Fix (NASDAQ:SFIX) Downgraded by Wall Street Zen to Hold

Stitch Fix (NASDAQ:SFIX - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued on Sunday.

Separately, Telsey Advisory Group restated a "market perform" rating and issued a $6.00 target price on shares of Stitch Fix in a research note on Wednesday, June 11th.

Stitch Fix Price Performance

Shares of NASDAQ SFIX traded down $0.09 during mid-day trading on Friday, hitting $3.65. The company had a trading volume of 1,283,702 shares, compared to its average volume of 2,432,410. The business's 50-day simple moving average is $3.90 and its 200-day simple moving average is $4.16. Stitch Fix has a 12 month low of $2.21 and a 12 month high of $6.99. The firm has a market cap of $476.29 million, a P/E ratio of -7.93 and a beta of 2.00.

Stitch Fix (NASDAQ:SFIX - Get Free Report) last posted its quarterly earnings results on Wednesday, June 11th. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.05. Stitch Fix had a negative return on equity of 18.15% and a negative net margin of 4.44%. During the same period in the previous year, the business posted ($0.18) earnings per share. The business's revenue was up .7% on a year-over-year basis. As a group, sell-side analysts predict that Stitch Fix will post -0.44 EPS for the current year.

Insider Activity

In other Stitch Fix news, insider Casey O'connor sold 50,000 shares of the firm's stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $3.04, for a total transaction 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 trade represents a 7.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Working Capital Advisors (Uk) sold 1,370,931 shares of the company's stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $4.68, for a total value of $6,415,957.08. Following the completion of the sale, the insider now owns 10,608,822 shares in the company, valued at approximately $49,649,286.96. This represents a 11.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. 16.95% of the stock is owned by company insiders.

Institutional Trading of Stitch Fix

Several institutional investors have recently bought and sold shares of the stock. SBI Securities Co. Ltd. bought a new position in shares of Stitch Fix during the fourth quarter valued at $29,000. Wescott Financial Advisory Group LLC acquired a new stake in shares of Stitch Fix during the 1st quarter worth about $32,000. Bellecapital International Ltd. acquired a new stake in shares of Stitch Fix during the 4th quarter worth about $55,000. Polymer Capital Management US LLC bought a new position in Stitch Fix during the 4th quarter valued at about $82,000. Finally, Martingale Asset Management L P acquired a new position in Stitch Fix in the first quarter valued at about $85,000. 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.