Stitch Fix (NASDAQ:SFIX) Trading 5.8% Higher – Time to Buy?

Stitch Fix, Inc. (NASDAQ:SFIX) shares rose 5.8% during mid-day trading on Friday . The company traded as high as $5.12 and last traded at $5.06. Approximately 779,518 shares were traded during trading, a decline of 67% from the average daily volume of 2,371,302 shares. The stock had previously closed at $4.78.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Telsey Advisory Group lifted their price target on Stitch Fix from $4.00 to $6.00 and gave the company a “market perform” rating in a report on Wednesday, December 11th. Canaccord Genuity Group upped their price objective on shares of Stitch Fix from $5.00 to $6.00 and gave the stock a “hold” rating in a report on Wednesday, December 11th. Finally, UBS Group raised their target price on Stitch Fix from $2.80 to $5.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. Two investment analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to MarketBeat.com, Stitch Fix presently has an average rating of “Hold” and an average price target of $3.96.

Stitch Fix Stock Up 2.9 %

The firm has a market cap of $624.04 million, a P/E ratio of -5.93 and a beta of 1.99. The stock’s 50-day moving average is $4.60 and its 200-day moving average is $3.93.

Stitch Fix (NASDAQ:SFIX) last released its earnings results on Tuesday, December 10th. The company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.09. Stitch Fix had a negative return on equity of 32.71% and a negative net margin of 7.71%. The business had revenue of $318.82 million for the quarter, compared to the consensus estimate of $306.88 million. During the same period last year, the business earned ($0.30) earnings per share. The firm’s revenue for the quarter was down 12.6% compared to the same quarter last year. As a group, analysts expect that Stitch Fix, Inc. will post -0.44 EPS for the current fiscal year.

Insider Activity at Stitch Fix

In related news, Director Katrina Lake sold 725,002 shares of the business’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $5.78, for a total value of $4,190,511.56. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Anthony Bacos sold 16,720 shares of the stock in a transaction on Friday, December 13th. The stock was sold at an average price of $4.61, for a total value of $77,079.20. Following the transaction, the insider now owns 913,962 shares of the company’s stock, valued at $4,213,364.82. This represents a 1.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 16.95% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Stitch Fix

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Disciplined Growth Investors Inc. MN raised its stake in shares of Stitch Fix by 48.1% in the third quarter. Disciplined Growth Investors Inc. MN now owns 13,734,485 shares of the company’s stock valued at $38,731,000 after acquiring an additional 4,460,668 shares during the last quarter. Jacobs Levy Equity Management Inc. bought a new position in Stitch Fix in the 3rd quarter valued at $2,862,000. Hodges Capital Management Inc. grew its holdings in shares of Stitch Fix by 34.4% during the third 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 last quarter. Public Employees Retirement System of Ohio increased its stake in shares of Stitch Fix by 2,253.6% in the third quarter. Public Employees Retirement System of Ohio now owns 146,750 shares of the company’s stock valued at $414,000 after buying an additional 140,515 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Stitch Fix by 32.0% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 499,142 shares of the company’s stock valued at $1,408,000 after buying an additional 121,084 shares during the last quarter. 71.04% of the stock is currently owned by institutional investors and hedge funds.

About Stitch Fix

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.