Brokerages Set Stitch Fix, Inc. (NASDAQ:SFIX) Price Target at $3.27

Stitch Fix, Inc. (NASDAQ:SFIX) has been given a consensus rating of “Reduce” by the eleven analysts that are currently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell rating and nine have issued a hold rating on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $3.27.

Several equities research analysts have issued reports on the stock. UBS Group lowered their price target on shares of Stitch Fix from $3.80 to $2.80 and set a “neutral” rating on the stock in a research note on Friday, October 11th. Canaccord Genuity Group lowered their price target on shares of Stitch Fix from $4.50 to $3.50 and set a “hold” rating on the stock in a research note on Wednesday, September 25th. Finally, Telsey Advisory Group reiterated a “market perform” rating and issued a $4.00 price target on shares of Stitch Fix in a research note on Wednesday, September 25th.

Stitch Fix Stock Down 1.3 %

Shares of NASDAQ:SFIX opened at $3.74 on Friday. Stitch Fix has a 12 month low of $2.06 and a 12 month high of $5.05. The company’s fifty day simple moving average is $3.24 and its 200 day simple moving average is $3.40. The firm has a market cap of $474.37 million, a price-to-earnings ratio of -3.46 and a beta of 1.87.

Stitch Fix (NASDAQ:SFIX) last issued its quarterly earnings data on Tuesday, September 24th. The company reported ($0.12) EPS for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.07. Stitch Fix had a negative net margin of 9.63% and a negative return on equity of 40.62%. The business had revenue of $319.55 million for the quarter, compared to analyst estimates of $317.48 million. Research analysts expect that Stitch Fix will post -0.61 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Disciplined Growth Investors Inc. MN grew its position in shares of Stitch Fix by 34.9% in the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 9,273,817 shares of the company’s stock valued at $38,486,000 after acquiring an additional 2,396,920 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of Stitch Fix by 11.7% during the 2nd quarter. Renaissance Technologies LLC now owns 4,432,600 shares of the company’s stock worth $18,395,000 after buying an additional 465,900 shares during the period. Maple Rock Capital Partners Inc. bought a new stake in shares of Stitch Fix during the 1st quarter worth about $8,994,000. Hodges Capital Management Inc. boosted its holdings in shares of Stitch Fix by 286.2% during the 2nd quarter. Hodges Capital Management Inc. now owns 2,511,100 shares of the company’s stock worth $10,421,000 after buying an additional 1,860,950 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Stitch Fix by 32.0% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 499,142 shares of the company’s stock worth $1,408,000 after buying an additional 121,084 shares during the period. Institutional investors 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.