ValuEngine Lowers Stitch Fix (NASDAQ:SFIX) to Sell

ValuEngine downgraded shares of Stitch Fix (NASDAQ:SFIX) from a hold rating to a sell rating in a report published on Wednesday morning, ValuEngine reports.

SFIX has been the subject of several other research reports. Piper Jaffray Companies dropped their price target on shares of Stitch Fix from $28.00 to $16.00 and set a neutral rating for the company in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. lowered their price target on shares of Stitch Fix from $34.00 to $24.00 and set a neutral rating for the company in a report on Wednesday, October 2nd. TheStreet raised shares of Stitch Fix from a d rating to a c rating in a report on Monday, December 9th. Telsey Advisory Group assumed coverage on shares of Stitch Fix in a report on Friday, October 18th. They set an outperform rating and a $29.00 price target for the company. Finally, KeyCorp lowered their price target on shares of Stitch Fix from $40.00 to $34.00 and set an overweight rating for the company in a report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the stock. Stitch Fix currently has an average rating of Hold and an average target price of $29.69.

Shares of SFIX traded down $1.26 on Wednesday, hitting $25.87. 2,817,370 shares of the stock traded hands, compared to its average volume of 2,333,710. The company has a quick ratio of 1.99, a current ratio of 2.00 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $2.80 billion, a P/E ratio of 105.96, a P/E/G ratio of 18.63 and a beta of 3.30. The stock’s 50 day moving average is $23.39 and its two-hundred day moving average is $23.89. Stitch Fix has a 1 year low of $16.05 and a 1 year high of $37.72.

Stitch Fix (NASDAQ:SFIX) last announced its quarterly earnings data on Tuesday, October 1st. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.03. Stitch Fix had a net margin of 1.57% and a return on equity of 6.79%. The business had revenue of $432.10 million for the quarter, compared to the consensus estimate of $432.44 million. During the same quarter in the prior year, the firm posted $0.18 earnings per share. The company’s quarterly revenue was up 35.8% compared to the same quarter last year. Research analysts forecast that Stitch Fix will post 0.07 EPS for the current year.

In related news, CFO Paul Yee sold 50,000 shares of Stitch Fix stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $27.44, for a total value of $1,372,000.00. Following the sale, the chief financial officer now directly owns 61,778 shares in the company, valued at approximately $1,695,188.32. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Scott Darling sold 4,000 shares of Stitch Fix stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $25.00, for a total transaction of $100,000.00. Following the completion of the sale, the insider now owns 63,157 shares in the company, valued at $1,578,925. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 378,167 shares of company stock worth $8,718,140. Insiders own 47.52% of the company’s stock.

A number of large investors have recently modified their holdings of the stock. Captrust Financial Advisors increased its stake in Stitch Fix by 392.0% during the 2nd quarter. Captrust Financial Advisors now owns 1,230 shares of the company’s stock valued at $39,000 after buying an additional 980 shares during the period. Valeo Financial Advisors LLC increased its stake in Stitch Fix by 27.3% during the 3rd quarter. Valeo Financial Advisors LLC now owns 2,749 shares of the company’s stock valued at $53,000 after buying an additional 590 shares during the period. AdvisorNet Financial Inc increased its stake in Stitch Fix by 52.8% during the 3rd quarter. AdvisorNet Financial Inc now owns 2,820 shares of the company’s stock valued at $54,000 after buying an additional 975 shares during the period. Griffin Asset Management Inc. acquired a new position in shares of Stitch Fix in the 2nd quarter worth approximately $63,000. Finally, Quantamental Technologies LLC acquired a new position in shares of Stitch Fix in the 2nd quarter worth approximately $82,000. Hedge funds and other institutional investors own 41.77% of the company’s stock.

About Stitch Fix

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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Analyst Recommendations for Stitch Fix (NASDAQ:SFIX)

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