MKM Partners Reiterates Neutral Rating for Stitch Fix (NASDAQ:SFIX)

MKM Partners restated their neutral rating on shares of Stitch Fix (NASDAQ:SFIXGet Rating) in a research note published on Thursday morning, Marketbeat reports. The firm currently has a $6.00 target price on the stock.

Several other analysts also recently commented on the stock. Robert W. Baird lowered their target price on shares of Stitch Fix from $11.00 to $7.00 in a report on Monday, June 13th. KeyCorp assumed coverage on shares of Stitch Fix in a report on Thursday, July 21st. They issued a sector weight rating for the company. Morgan Stanley lowered their target price on shares of Stitch Fix from $9.00 to $5.00 and set an equal weight rating for the company in a report on Friday, June 10th. Wedbush reduced their price target on shares of Stitch Fix from $9.00 to $7.00 and set a neutral rating for the company in a research report on Friday, June 10th. Finally, Evercore ISI reduced their price target on shares of 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. Two analysts have rated the stock with a sell rating, sixteen have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of Hold and a consensus price target of $14.30.

Stitch Fix Trading Up 0.2 %

SFIX opened at $5.97 on Thursday. The company’s fifty day moving average price is $6.50 and its two-hundred day moving average price is $9.80. Stitch Fix has a 1-year low of $4.66 and a 1-year high of $56.70. The company has a market cap of $645.78 million, a price-to-earnings ratio of -7.19 and a beta of 1.91.

Stitch Fix (NASDAQ:SFIXGet Rating) last announced its earnings results on Thursday, June 9th. The company reported ($0.72) EPS for the quarter, missing the consensus estimate of ($0.57) by ($0.15). The firm had revenue of $492.90 million during the quarter, compared to analysts’ expectations of $493.71 million. Stitch Fix had a negative net margin of 4.13% and a negative return on equity of 19.96%. The business’s revenue for the quarter was down 8.0% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.18) EPS. As a group, equities analysts forecast that Stitch Fix will post -1.62 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director J William Gurley acquired 1,000,000 shares of the business’s stock in a transaction dated Friday, July 8th. The stock was bought at an average cost of $5.43 per share, for a total transaction of $5,430,000.00. Following the completion of the transaction, the director now owns 2,149,762 shares of the company’s stock, valued at $11,673,207.66. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 27.01% of the company’s stock.

Institutional Investors Weigh In On Stitch Fix

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Working Capital Advisors UK Ltd. raised its stake in shares of Stitch Fix by 22.3% during the fourth quarter. Working Capital Advisors UK Ltd. now owns 11,088,374 shares of the company’s stock worth $209,792,000 after acquiring an additional 2,021,562 shares in the last quarter. Slate Path Capital LP boosted its holdings in shares of Stitch Fix by 43.6% during the 4th quarter. Slate Path Capital LP now owns 4,282,056 shares of the company’s stock valued at $81,016,000 after buying an additional 1,300,000 shares in the last quarter. Federated Hermes Inc. boosted its holdings in shares of Stitch Fix by 212.1% during the 1st quarter. Federated Hermes Inc. now owns 1,825,064 shares of the company’s stock valued at $18,378,000 after buying an additional 1,240,320 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Stitch Fix by 337.9% during the 4th quarter. Renaissance Technologies LLC now owns 1,529,270 shares of the company’s stock valued at $28,934,000 after buying an additional 1,180,025 shares in the last quarter. Finally, Quinn Opportunity Partners LLC raised its position in shares of Stitch Fix by 3,411.1% in the 4th quarter. Quinn Opportunity Partners LLC now owns 1,204,226 shares of the company’s stock worth $22,784,000 after purchasing an additional 1,169,928 shares during the last quarter. 70.50% of the stock is owned by hedge funds and other institutional investors.

About Stitch Fix

(Get Rating)

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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