Telsey Advisory Group Reaffirms “Market Perform” Rating for Stitch Fix (NASDAQ:SFIX)

Stitch Fix (NASDAQ:SFIX)‘s stock had its “market perform” rating restated by analysts at Telsey Advisory Group in a note issued to investors on Wednesday,Benzinga reports. They currently have a $6.00 target price on the stock. Telsey Advisory Group’s price target points to a potential upside of 41.84% from the company’s current price.

A number of other equities analysts have also recently commented on SFIX. Canaccord Genuity Group raised their target price on Stitch Fix from $5.00 to $6.00 and gave the stock a “hold” rating in a report on Wednesday, December 11th. UBS Group boosted their target price on Stitch Fix from $2.80 to $5.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $4.50.

Stitch Fix Trading Up 2.2 %

SFIX stock opened at $4.23 on Wednesday. The company’s 50 day moving average is $4.86 and its 200 day moving average is $4.08. The stock has a market cap of $536.52 million, a price-to-earnings ratio of -5.10 and a beta of 2.13. Stitch Fix has a 1-year low of $2.06 and a 1-year high of $6.99.

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

Insider Activity at Stitch Fix

In other news, insider Anthony Bacos sold 16,720 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $4.61, for a total value of $77,079.20. Following the completion of the transaction, the insider now owns 913,962 shares of the company’s stock, valued at approximately $4,213,364.82. This trade represents a 1.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 16.95% of the stock is owned by corporate insiders.

Institutional Trading of Stitch Fix

Hedge funds have recently added to or reduced their stakes in the company. Disciplined Growth Investors Inc. MN raised its position in Stitch Fix by 48.1% during the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 13,734,485 shares of the company’s stock worth $38,731,000 after buying an additional 4,460,668 shares during the last quarter. Ieq Capital LLC purchased a new stake in Stitch Fix during the 4th quarter worth about $299,000. Hodges Capital Management Inc. lifted its stake in shares of Stitch Fix by 34.4% during the 3rd quarter. Hodges Capital Management Inc. now owns 3,375,200 shares of the company’s stock worth $9,518,000 after purchasing an additional 864,100 shares during the period. JPMorgan Chase & Co. grew its holdings in Stitch Fix by 72.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 161,225 shares of the company’s stock valued at $455,000 after buying an additional 67,892 shares during the period. Finally, Public Employees Retirement System of Ohio boosted its holdings in shares of Stitch Fix by 2,253.6% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 146,750 shares of the company’s stock valued at $414,000 after purchasing an additional 140,515 shares during the last quarter. Institutional investors and hedge funds 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.