Stitch Fix (NASDAQ:SFIX) Upgraded at Mizuho

Mizuho upgraded shares of Stitch Fix (NASDAQ:SFIX) from an underperform rating to a neutral rating in a report published on Tuesday, Marketbeat reports. Mizuho currently has $2.50 price objective on the stock, down from their prior price objective of $3.00.

Other analysts have also recently issued research reports about the stock. UBS Group lowered their price objective on shares of Stitch Fix from $4.00 to $3.50 and set a “neutral” rating for the company in a research report on Thursday, September 24th. Northland Securities set a $4.00 target price on Stitch Fix in a report on Thursday, September 24th. Telsey Advisory Group decreased their target price on Stitch Fix from $5.00 to $3.00 and set a “market perform” rating for the company in a research note on Thursday, September 24th. Weiss Ratings downgraded Stitch Fix from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, September 25th. Finally, Sanford C. Bernstein restated a “market perform” rating and issued a $4.00 price target on shares of Stitch Fix in a report on Thursday, September 24th. One analyst has rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Stitch Fix has an average rating of “Hold” and a consensus price target of $3.40.

Stitch Fix Stock Performance

Shares of NASDAQ SFIX opened at $2.60 on Tuesday. Stitch Fix has a 52-week low of $2.10 and a 52-week high of $5.74. The stock has a market cap of $346.92 million, a P/E ratio of -26.00 and a beta of 2.34. The firm has a 50 day moving average price of $3.28 and a 200 day moving average price of $3.49.

Stitch Fix (NASDAQ:SFIX) last posted its earnings results on Wednesday, September 23rd. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.04. The company had revenue of $324.42 million for the quarter, compared to analyst estimates of $325.50 million. Stitch Fix had a negative net margin of 0.94% and a negative return on equity of 5.75%. The business’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period last year, the business posted ($0.07) earnings per share. Analysts predict that Stitch Fix will post -0.14 earnings per share for the current fiscal year.

Insider Activity at Stitch Fix

In other news, insider Anthony Bacos sold 70,000 shares of the stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $4.09, for a total transaction of $286,300.00. Following the completion of the sale, the insider owned 951,994 shares of the company’s stock, valued at $3,893,655.46. This represents a 6.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO David Aufderhaar sold 67,960 shares of the stock in a transaction on Monday, July 6th. The stock was sold at an average price of $3.79, for a total transaction of $257,568.40. Following the sale, the chief financial officer directly owned 1,102,369 shares of the company’s stock, valued at $4,177,978.51. This represents a 5.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 417,960 shares of company stock valued at $1,591,068 in the last quarter. Corporate insiders own 16.09% of the company’s stock.

Hedge Funds Weigh In On Stitch Fix

Large investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp acquired a new position in Stitch Fix during the 2nd quarter worth approximately $6,427,000. Landscape Capital Management L.L.C. raised its holdings in shares of Stitch Fix by 49.0% in the fourth quarter. Landscape Capital Management L.L.C. now owns 1,230,124 shares of the company’s stock valued at $6,458,000 after purchasing an additional 404,322 shares during the last quarter. State Street Corp lifted its position in shares of Stitch Fix by 10.1% in the second quarter. State Street Corp now owns 3,503,504 shares of the company’s stock worth $14,399,000 after purchasing an additional 322,030 shares in the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of Stitch Fix in the second quarter worth $738,000. Finally, Dimensional Fund Advisors LP lifted its position in shares of Stitch Fix by 6.3% in the first quarter. Dimensional Fund Advisors LP now owns 2,418,196 shares of the company’s stock worth $8,004,000 after purchasing an additional 142,909 shares in the last quarter. Institutional investors own 71.04% of the company’s stock.

Stitch Fix Company Profile

Stitch Fix, Inc is an online personal styling company that uses data science, personalization technology and human stylists to recommend apparel and accessories to customers. Its offerings include clothing, shoes and accessories across categories such as women’s, men’s and children’s apparel, with selections tailored to individual preferences, sizes, budgets and lifestyles.

The company’s primary service, traditionally known as a “Fix,” delivers a curated selection of items for customers to try at home, after which they can purchase the items they want and return the rest.