Stitch Fix (NASDAQ:SFIX) Rating Increased to Buy at Wall Street Zen

Stitch Fix (NASDAQ:SFIX - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a report released on Saturday.

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

Stitch Fix Stock Performance

Shares of NASDAQ:SFIX traded down $0.25 during mid-day trading on Friday, hitting $3.87. 1,917,344 shares of the company traded hands, compared to its average volume of 2,430,466. The firm has a market cap of $498.46 million, a P/E ratio of -8.41 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 firm's 50 day simple moving average is $3.83 and its 200 day simple moving average is $4.19.

Stitch Fix (NASDAQ:SFIX - Get Free Report) last announced its 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%. The company's revenue for the quarter was up .7% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.18) EPS. Equities research analysts expect that Stitch Fix will post -0.44 EPS for the current fiscal year.

Insider Transactions at Stitch Fix

In other news, insider Casey O'connor sold 50,000 shares of Stitch Fix stock in a transaction that occurred on Monday, April 14th. The stock was 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 approximately $1,750,295.20. This trade represents a 7.99% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Working Capital Advisors (Uk) sold 1,370,931 shares of Stitch Fix stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $4.68, for a total value of $6,415,957.08. Following the completion of the transaction, the insider now owns 10,608,822 shares of the company's stock, valued at approximately $49,649,286.96. The trade was a 11.44% decrease in their position. The disclosure for this sale can be found here. Insiders own 16.95% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Strs Ohio acquired a new position in shares of Stitch Fix in the 1st quarter worth approximately $311,000. Acadian Asset Management LLC boosted its position in Stitch Fix by 533.5% during the 1st quarter. Acadian Asset Management LLC now owns 369,069 shares of the company's stock valued at $1,198,000 after purchasing an additional 310,810 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Stitch Fix by 7.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 61,270 shares of the company's stock valued at $199,000 after purchasing an additional 3,993 shares during the period. Jacobs Levy Equity Management Inc. boosted its position in Stitch Fix by 6.9% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 2,635,207 shares of the company's stock valued at $8,564,000 after purchasing an additional 170,344 shares during the period. Finally, AlTi Global Inc. boosted its position in Stitch Fix by 74.3% during the 1st quarter. AlTi Global Inc. now owns 51,506 shares of the company's stock valued at $167,000 after purchasing an additional 21,954 shares during the period. Institutional investors and hedge funds own 71.04% of the company's stock.

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.