Shares of Stitch Fix, Inc. (NASDAQ:SFIX – Get Rating) reached a new 52-week low on Tuesday after Stifel Nicolaus lowered their price target on the stock from $9.00 to $7.00. The company traded as low as $5.66 and last traded at $5.98, with a volume of 27087 shares trading hands. The stock had previously closed at $5.82.
SFIX has been the subject of a number of other reports. Barclays decreased their price target on Stitch Fix from $22.00 to $12.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 9th. Evercore ISI cut their price objective on Stitch Fix from $13.00 to $10.00 and set an “in-line” rating for the company in a research report on Friday, June 10th. Wedbush cut their price objective on Stitch Fix from $9.00 to $7.00 and set a “neutral” rating for the company in a research report on Friday, June 10th. MKM Partners cut their price objective on Stitch Fix from $19.00 to $9.00 in a research report on Monday, March 7th. Finally, Truist Financial cut their price objective on Stitch Fix from $12.00 to $8.00 and set a “hold” rating for the company in a research report on Friday, June 10th. Two research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $14.45.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Prospera Financial Services Inc acquired a new position in Stitch Fix in the 1st quarter valued at $74,000. Gladius Capital Management LP bought a new position in shares of Stitch Fix in the 1st quarter valued at $76,000. Commonwealth Equity Services LLC bought a new position in shares of Stitch Fix in the 1st quarter valued at $112,000. CHICAGO TRUST Co NA bought a new position in shares of Stitch Fix in the 1st quarter valued at $153,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Stitch Fix by 42.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,344 shares of the company’s stock valued at $158,000 after purchasing an additional 2,470 shares during the last quarter. 70.50% of the stock is owned by hedge funds and other institutional investors.
The company has a 50 day moving average price of $8.02 and a 200-day moving average price of $11.98. The company has a market cap of $596.02 million, a P/E ratio of -6.64 and a beta of 1.74.
Stitch Fix (NASDAQ:SFIX – Get Rating) last issued its quarterly earnings results on Thursday, June 9th. The company reported ($0.72) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.57) by ($0.15). Stitch Fix had a negative net margin of 4.13% and a negative return on equity of 19.96%. The business had revenue of $492.90 million during the quarter, compared to the consensus estimate of $493.71 million. During the same quarter in the previous year, the business posted ($0.18) EPS. The company’s revenue for the quarter was down 8.0% on a year-over-year basis. As a group, analysts forecast that Stitch Fix, Inc. will post -1.62 earnings per share for the current year.
Stitch Fix Company Profile (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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