Stitch Fix, Inc. (NASDAQ:SFIX) Receives an Average Rating of “Hold” by Brokerages

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Stitch Fix, Inc. (NASDAQ:SFIX – Get Rating) has received a consensus rating of “Hold” from the twenty-one research firms that currently cover the stock, Marketbeat reports. One research analyst rated the stock with a sell recommendation, fifteen gave the company a hold recommendation and two gave the company a buy recommendation. The average 1-year target price among brokerages that have issued ratings on the stock in the past year is $15.21.

A number of research companies have recently published reports on SFIX. Wells Fargo & Company lowered its price target on Stitch Fix shares from $14.00 to $8.00 and set an “underweight” rating for the company in a Wednesday, March 9 report. Telsey Advisory Group downgraded shares of Stitch Fix from an ‘outperforming’ rating to a ‘market performing’ rating and lowered its price target for the company from $25.00 to $14.00 in a report Wednesday, March 9. Stifel Nicolaus lowered his price target on Stitch Fix shares from $23.00 to $12.00 and set a “holding” rating for the company in a Wednesday, March 9 report. Zacks Investment Research upgraded the shares of Stitch Fix from a “sell” rating to a “hold” rating and set a price target of $16.00 for the company in a Thursday, February 3, report. Finally, Robert W. Baird lowered his price target on Stitch Fix shares from $25.00 to $11.00 in a Wednesday, March 9 report.

Stitch Fix stock opened at $7.08 on Wednesday. Stitch Fix has a 52-week minimum of $6.71 and a 52-week maximum of $69.20. The company has a market capitalization of $770.30 million, a price-earnings ratio of -24.41 and a beta of 1.73. The company has a fifty-day simple moving average of $9.63 and a 200-day simple moving average of $15.56.

Stitch Fix (NASDAQ:SFIX – Get Rating) last released its results on Tuesday, March 8. The company reported ($0.28) earnings per share (EPS) for the quarter, meeting analyst consensus estimates of ($0.28). Stitch Fix had a negative net margin of 1.37% and a negative return on equity of 6.58%. The company posted revenue of $516.70 million in the quarter, compared to analyst estimates of $514.50 million. In the same quarter of the previous year, the company had earned a profit per share of ($0.20). The company’s revenue for the quarter increased 2.5% compared to the same quarter last year. As a group, equity analysts expect Stitch Fix to post -1.38 EPS for the current fiscal year.

Institutional investors and hedge funds have recently changed their positions in the company. Yorktown Management & Research Co Inc increased its holdings of Stitch Fix shares 13.9% in the fourth quarter. Yorktown Management & Research Co Inc now owns 16,400 shares of the company valued at $310,000 after buying an additional 2,000 shares last quarter. Renaissance Technologies LLC acquired a new stock position in Stitch Fix in the third quarter worth approximately $13,952,000. California Public Employees Retirement System increased its holdings of Stitch Fix stock 10.6% in the fourth quarter. California Public Employees Retirement System now owns 153,913 shares of the company valued at $2,912,000 after purchasing an additional 14,763 shares in the last quarter. ProShare Advisors LLC increased its holdings of Stitch Fix shares by 24.4% in the fourth quarter. ProShare Advisors LLC now owns 562,616 shares of the company valued at $10,645,000 after purchasing an additional 110,282 shares in the last quarter. Finally, Accretive Wealth Partners LLC acquired a new stock position in Stitch Fix in the fourth quarter worth approximately $414,000. Institutional investors and hedge funds hold 70.50% of the company’s shares.

About Stitch Fix (Get a rating)

Stitch Fix, Inc sells a range of apparel, footwear, and accessories through its website and mobile app in the United States. It offers jeans, dresses, blouses, skirts, shoes, jewelry and handbags for men, women and children under the Stitch Fix brand. The company was previously known as rack habit inc.

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