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

Stitch Fix, Inc. (NASDAQ:SFIX - Get Free Report) has received a consensus recommendation of "Reduce" from the eleven research firms that are covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell recommendation and nine have issued a hold recommendation on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $3.27.

A number of research analysts have recently weighed in on SFIX shares. Telsey Advisory Group restated a "market perform" rating and set a $4.00 price objective on shares of Stitch Fix in a research report on Wednesday, September 25th. UBS Group reduced their price objective on Stitch Fix from $3.80 to $2.80 and set a "neutral" rating on the stock in a research note on Friday, October 11th. Finally, Canaccord Genuity Group lowered their target price on Stitch Fix from $4.50 to $3.50 and set a "hold" rating for the company in a research report on Wednesday, September 25th.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Disciplined Growth Investors Inc. MN lifted its holdings 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 worth $38,486,000 after buying an additional 2,396,920 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in Stitch Fix by 116.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 22,378 shares of the company's stock worth $59,000 after acquiring an additional 12,028 shares in the last quarter. CWM LLC increased its position in Stitch Fix by 132.5% during the 2nd quarter. CWM LLC now owns 11,867 shares of the company's stock valued at $49,000 after purchasing an additional 6,762 shares during the period. Susquehanna Fundamental Investments LLC bought a new stake in shares of Stitch Fix in the 1st quarter valued at about $259,000. Finally, Hodges Capital Management Inc. lifted its position in shares of Stitch Fix by 286.2% in the 2nd quarter. Hodges Capital Management Inc. now owns 2,511,100 shares of the company's stock worth $10,421,000 after purchasing an additional 1,860,950 shares during the period. 71.04% of the stock is currently owned by institutional investors.

Stitch Fix Price Performance

Shares of NASDAQ SFIX traded up $0.05 during mid-day trading on Friday, reaching $3.78. The company's stock had a trading volume of 1,596,734 shares, compared to its average volume of 1,940,533. Stitch Fix has a 52 week low of $2.06 and a 52 week high of $5.05. The stock has a fifty day moving average of $3.23 and a two-hundred day moving average of $3.37. The firm has a market capitalization of $479.46 million, a PE ratio of -3.50 and a beta of 1.87.

Stitch Fix (NASDAQ:SFIX - Get Free Report) last posted its quarterly earnings results on Tuesday, September 24th. The company reported ($0.12) earnings per share for the quarter, topping the consensus estimate of ($0.19) by $0.07. The business had revenue of $319.55 million during the quarter, compared to the consensus estimate of $317.48 million. Stitch Fix had a negative return on equity of 40.62% and a negative net margin of 9.63%. Analysts anticipate that Stitch Fix will post -0.61 EPS for the current fiscal year.

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.