Wall Street Zen Upgrades Stitch Fix (NASDAQ:SFIX) to “Buy”

by · The Markets Daily

Stitch Fix (NASDAQ:SFIX – Get Free Report) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Saturday.

Other equities research analysts have also recently issued research reports about the company. Zacks Research cut Stitch Fix from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 5th. UBS Group reissued a “neutral” rating on shares of Stitch Fix in a research report on Wednesday, September 17th. Weiss Ratings restated a “sell (d-)” rating on shares of Stitch Fix in a research note on Wednesday, October 8th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $6.00 price objective on shares of Stitch Fix in a research note on Monday, December 1st. Finally, Sanford C. Bernstein reissued a “market perform” rating and set a $6.00 target price on shares of Stitch Fix in a research report on Thursday, September 25th. One equities research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Stitch Fix presently has an average rating of “Hold” and an average price target of $6.00.

Check Out Our Latest Stock Report on SFIX

Stitch Fix Trading Down 2.5%

NASDAQ SFIX opened at $5.48 on Friday. Stitch Fix has a 1-year low of $2.60 and a 1-year high of $5.94. The firm’s fifty day simple moving average is $4.41 and its 200-day simple moving average is $4.61. The company has a market capitalization of $735.42 million, a PE ratio of -34.25 and a beta of 2.22.

Stitch Fix (NASDAQ:SFIX – Get Free Report) last released its quarterly earnings data on Thursday, December 4th. The company reported ($0.05) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.05). Stitch Fix had a negative return on equity of 14.38% and a negative net margin of 2.23%.The firm had revenue of $342.13 million during the quarter, compared to analysts’ expectations of $335.74 million. During the same quarter last year, the firm earned ($0.03) earnings per share. The business’s revenue for the quarter was up 7.3% on a year-over-year basis. As a group, analysts predict that Stitch Fix will post -0.44 EPS for the current year.

Insider Buying and Selling

In related news, insider Casey O’connor sold 50,000 shares of the firm’s stock in a transaction on Monday, October 20th. The shares were sold at an average price of $4.41, for a total value of $220,500.00. Following the transaction, the insider directly owned 431,441 shares in the company, valued at approximately $1,902,654.81. This trade represents a 10.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Anthony Bacos sold 90,000 shares of the business’s stock in a transaction on Friday, September 19th. The stock was sold at an average price of $5.61, for a total transaction of $504,900.00. Following the transaction, the insider directly owned 799,966 shares of the company’s stock, valued at approximately $4,487,809.26. This represents a 10.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 443,450 shares of company stock valued at $2,300,306. Company insiders own 16.09% of the company’s stock.

Institutional Trading of Stitch Fix

Several hedge funds have recently added to or reduced their stakes in SFIX. State of Alaska Department of Revenue acquired a new position in shares of Stitch Fix during the third quarter worth approximately $32,000. Wescott Financial Advisory Group LLC bought a new position in Stitch Fix during the first quarter worth $32,000. First Dallas Securities Inc. acquired a new position in Stitch Fix during the 2nd quarter valued at $37,000. Ameritas Investment Partners Inc. boosted its holdings in Stitch Fix by 32.3% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 10,839 shares of the company’s stock valued at $40,000 after purchasing an additional 2,645 shares during the period. Finally, CIBC Bancorp USA Inc. acquired a new stake in Stitch Fix in the 3rd quarter worth $50,000. Institutional investors own 71.04% of the company’s stock.

Stitch Fix Company Profile

(Get Free Report)

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.

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