Stitch Fix (NASDAQ:SFIX) Sees Strong Trading Volume

Stitch Fix Inc (NASDAQ:SFIX) shares saw unusually-strong trading volume on Friday . Approximately 8,599,328 shares were traded during trading, an increase of 285% from the previous session’s volume of 2,235,402 shares.The stock last traded at $31.99 and had previously closed at $30.42.

A number of equities research analysts have recently commented on SFIX shares. Stifel Nicolaus increased their price objective on Stitch Fix from $28.00 to $34.00 in a research report on Wednesday, March 13th. Zacks Investment Research upgraded Stitch Fix from a “hold” rating to a “buy” rating and set a $38.00 price objective for the company in a research report on Thursday, March 14th. SunTrust Banks increased their price objective on Stitch Fix to $43.00 and gave the company a “buy” rating in a research report on Wednesday, March 13th. TheStreet upgraded Stitch Fix from a “d” rating to a “c-” rating in a research report on Wednesday. Finally, Barclays increased their price objective on Stitch Fix to $32.00 and gave the company an “equal weight” rating in a research report on Wednesday, March 13th. Seven research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $36.11.

The firm’s fifty day simple moving average is $26.66. The firm has a market cap of $3.23 billion, a P/E ratio of 69.54, a PEG ratio of 4.40 and a beta of 3.01.

Stitch Fix (NASDAQ:SFIX) last released its earnings results on Wednesday, June 5th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.03) by $0.10. The company had revenue of $409.00 million during the quarter, compared to analyst estimates of $395.06 million. Stitch Fix had a return on equity of 13.77% and a net margin of 3.27%. The company’s revenue for the quarter was up 29.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.09 earnings per share. On average, sell-side analysts anticipate that Stitch Fix Inc will post 0.32 EPS for the current fiscal year.

In other news, major shareholder Matt Cohler sold 148,820 shares of the company’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $31.28, for a total value of $4,655,089.60. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Steven M. Spurlock sold 130,980 shares of the company’s stock in a transaction on Friday, April 5th. The stock was sold at an average price of $28.38, for a total transaction of $3,717,212.40. The disclosure for this sale can be found here. Insiders sold 1,049,661 shares of company stock valued at $29,635,865 in the last 90 days. Corporate insiders own 56.97% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. increased its stake in shares of Stitch Fix by 54.7% in the fourth quarter. BlackRock Inc. now owns 381,752 shares of the company’s stock worth $6,525,000 after acquiring an additional 134,984 shares during the last quarter. Brandywine Global Investment Management LLC acquired a new position in shares of Stitch Fix in the fourth quarter worth $3,849,000. Greenspring Associates Inc. acquired a new position in Stitch Fix during the fourth quarter worth $289,000. Paloma Partners Management Co acquired a new position in Stitch Fix during the fourth quarter worth $171,000. Finally, Voloridge Investment Management LLC acquired a new position in Stitch Fix during the fourth quarter worth $3,216,000. 29.24% of the stock is currently owned by institutional investors and hedge funds.

Stitch Fix Company Profile (NASDAQ:SFIX)

Stitch Fix, Inc sells a range of apparel, shoes, and accessories through its Website and mobile app 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. and changed its name to Stitch Fix, Inc in October 2011.

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