Stitch Fix's (SFIX) "Market Perform" Rating Reaffirmed at Telsey Advisory Group

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

Stitch Fix Stock Down 1.7%

Shares of NASDAQ:SFIX traded down $0.08 during midday trading on Wednesday, reaching $4.67. The company's stock had a trading volume of 1,859,633 shares, compared to its average volume of 2,400,620. The stock has a fifty day moving average of $3.59 and a 200 day moving average of $4.19. Stitch Fix has a twelve month low of $2.21 and a twelve month high of $6.99. The firm has a market capitalization of $601.48 million, a PE ratio of -5.63 and a beta of 2.00.

Stitch Fix (NASDAQ:SFIX - Get Free Report) last announced its quarterly earnings results on Tuesday, March 11th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 firm had revenue of $312.11 million for the quarter, compared to the consensus estimate of $298.04 million. During the same period in the prior year, the firm posted ($0.29) earnings per share. The firm's quarterly revenue was down 5.5% compared to the same quarter last year. Sell-side analysts anticipate that Stitch Fix will post -0.44 earnings per share for the current fiscal year.

Insider Buying and Selling at Stitch Fix

In other 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 value of $152,000.00. Following the transaction, the insider now directly owns 575,755 shares of the company's stock, valued at approximately $1,750,295.20. This trade represents a 7.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 16.95% of the company's stock.

Institutional Investors Weigh In On Stitch Fix

Hedge funds and other institutional investors have recently bought and sold shares of the company. SBI Securities Co. Ltd. acquired a new stake in Stitch Fix during the fourth quarter worth about $29,000. Wescott Financial Advisory Group LLC acquired a new stake in shares of Stitch Fix during the first quarter valued at about $32,000. Bellecapital International Ltd. acquired a new stake in shares of Stitch Fix during the fourth quarter valued at about $55,000. Savant Capital LLC acquired a new stake in shares of Stitch Fix during the fourth quarter valued at about $79,000. Finally, Polymer Capital Management US LLC acquired a new stake in shares of Stitch Fix during the fourth quarter valued at about $82,000. 71.04% of the stock is currently owned by institutional investors and hedge funds.

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.