Telsey Advisory Group Reiterates Market Perform Rating for Stitch Fix (NASDAQ:SFIX)

Telsey Advisory Group reissued their market perform rating on shares of Stitch Fix (NASDAQ:SFIX - Free Report) in a research report released on Wednesday,Benzinga reports. Telsey Advisory Group currently has a $6.00 target price on the stock.

Stitch Fix Trading Down 0.6%

Shares of SFIX traded down $0.03 during mid-day trading on Wednesday, hitting $4.64. The company's stock had a trading volume of 1,468,904 shares, compared to its average volume of 2,375,820. Stitch Fix has a 1-year low of $2.21 and a 1-year high of $6.99. The firm has a market capitalization of $597.62 million, a P/E ratio of -5.59 and a beta of 2.00. The firm has a 50-day simple moving average of $3.64 and a 200 day simple moving average of $4.20.

Stitch Fix (NASDAQ:SFIX - Get Free Report) last issued its earnings results on Tuesday, March 11th. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.06. Stitch Fix had a negative net margin of 7.71% and a negative return on equity of 32.71%. The company had revenue of $312.11 million for the quarter, compared to analyst estimates of $298.04 million. During the same period in the previous year, the firm earned ($0.29) EPS. The business's revenue was down 5.5% on a year-over-year basis. As a group, sell-side analysts predict that Stitch Fix will post -0.44 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Casey O'connor sold 50,000 shares of Stitch Fix stock in a transaction on Monday, April 14th. The stock was 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 of the company's stock, valued at $1,750,295.20. The trade was a 7.99% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 16.95% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Savant Capital LLC purchased a new stake in shares of Stitch Fix in the fourth quarter valued at $79,000. Rhumbline Advisers boosted its stake in shares of Stitch Fix by 1.5% during the 4th quarter. Rhumbline Advisers now owns 149,625 shares of the company's stock worth $645,000 after purchasing an additional 2,255 shares during the last quarter. Ieq Capital LLC acquired a new position in shares of Stitch Fix in the fourth quarter valued at approximately $299,000. Bank of New York Mellon Corp lifted its stake in shares of Stitch Fix by 7.5% during 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 buying an additional 17,943 shares during the period. Finally, US Bancorp DE acquired a new stake in Stitch Fix during the fourth quarter worth approximately $220,000. 71.04% of the stock is 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.