Stitch Fix (NASDAQ:SFIX) Shares Up 3.4%

Shares of Stitch Fix, Inc. (NASDAQ:SFIXGet Rating) shot up 3.4% during mid-day trading on Tuesday . The company traded as high as $9.91 and last traded at $9.87. 9,126 shares changed hands during mid-day trading, a decline of 100% from the average session volume of 3,435,345 shares. The stock had previously closed at $9.55.

A number of research firms have recently weighed in on SFIX. Zacks Investment Research upgraded shares of Stitch Fix from a “sell” rating to a “hold” rating and set a $16.00 price target on the stock in a report on Thursday, February 3rd. Robert W. Baird cut their price target on shares of Stitch Fix from $25.00 to $11.00 in a report on Wednesday, March 9th. Morgan Stanley cut their price target on shares of Stitch Fix from $20.00 to $9.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 9th. Wedbush cut their price target on shares of Stitch Fix from $21.00 to $9.00 and set a “neutral” rating on the stock in a report on Wednesday, March 9th. Finally, Stifel Nicolaus cut their price target on shares of Stitch Fix from $23.00 to $12.00 and set a “hold” rating on the stock in a report on Wednesday, March 9th. Two investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $17.95.

The company has a market capitalization of $1.13 billion, a price-to-earnings ratio of -34.90 and a beta of 1.81. The firm’s 50-day simple moving average is $11.41 and its 200-day simple moving average is $20.13.

Stitch Fix (NASDAQ:SFIXGet Rating) last posted its quarterly earnings results on Tuesday, March 8th. The company reported ($0.28) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.28). The company had revenue of $516.70 million for the quarter, compared to analyst estimates of $514.50 million. Stitch Fix had a negative net margin of 1.37% and a negative return on equity of 6.58%. The business’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period last year, the business posted ($0.20) EPS. On average, sell-side analysts anticipate that Stitch Fix, Inc. will post -1.38 earnings per share for the current year.

In other Stitch Fix news, major shareholder Working Capital Advisors (Uk) bought 100,000 shares of the firm’s stock in a transaction dated Thursday, January 20th. The shares were acquired at an average cost of $16.10 per share, for a total transaction of $1,610,000.00. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 27.01% of the stock is currently owned by insiders.

Several institutional investors have recently modified their holdings of the company. Rosenblum Silverman Sutton S F Inc. CA lifted its holdings in Stitch Fix by 0.3% during the 3rd quarter. Rosenblum Silverman Sutton S F Inc. CA now owns 92,544 shares of the company’s stock valued at $3,697,000 after purchasing an additional 310 shares during the last quarter. Metropolitan Life Insurance Co NY lifted its holdings in Stitch Fix by 2.0% during the 3rd quarter. Metropolitan Life Insurance Co NY now owns 16,103 shares of the company’s stock valued at $643,000 after purchasing an additional 320 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its holdings in Stitch Fix by 1.7% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 24,447 shares of the company’s stock valued at $977,000 after purchasing an additional 400 shares during the last quarter. Dark Forest Capital Management LP lifted its holdings in Stitch Fix by 40.9% during the 3rd quarter. Dark Forest Capital Management LP now owns 2,235 shares of the company’s stock valued at $89,000 after purchasing an additional 649 shares during the last quarter. Finally, Arizona State Retirement System lifted its holdings in Stitch Fix by 4.1% during the 4th quarter. Arizona State Retirement System now owns 18,362 shares of the company’s stock valued at $347,000 after purchasing an additional 725 shares during the last quarter. Institutional investors and hedge funds own 67.10% of the company’s stock.

About Stitch Fix (NASDAQ:SFIX)

Stitch Fix, Inc sells a range of apparel, shoes, and accessories through its Website and mobile application in the United States. It offers denim, dresses, blouses, skirts, shoes, jewelry, and handbags for men, women, and kids under the Stitch Fix brand. The company was formerly known as rack habit inc.

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