Stitch Fix (NASDAQ:SFIX) Trading Up 9.3% – Here’s Why

Stitch Fix, Inc. (NASDAQ:SFIX) shares rose 9.3% during trading on Wednesday . The company traded as high as $5.28 and last traded at $5.27. Approximately 1,703,453 shares changed hands during mid-day trading, a decline of 42% from the average daily volume of 2,912,497 shares. The stock had previously closed at $4.82.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Canaccord Genuity Group upped their target price on shares of Stitch Fix from $5.00 to $6.00 and gave the company a “hold” rating in a report on Wednesday, December 11th. Telsey Advisory Group upped their price objective on Stitch Fix from $4.00 to $6.00 and gave the company a “market perform” rating in a research note on Wednesday, December 11th. Finally, UBS Group lifted their target price on Stitch Fix from $2.80 to $5.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. Two analysts have rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, Stitch Fix currently has a consensus rating of “Hold” and a consensus target price of $3.96.

Stitch Fix Stock Performance

The company has a fifty day moving average of $4.31 and a two-hundred day moving average of $3.86. The firm has a market capitalization of $668.44 million, a price-to-earnings ratio of -6.35 and a beta of 1.99.

Stitch Fix (NASDAQ:SFIX) last announced its earnings results on Tuesday, December 10th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.09. Stitch Fix had a negative net margin of 7.71% and a negative return on equity of 32.71%. The company had revenue of $318.82 million during the quarter, compared to analysts’ expectations of $306.88 million. During the same quarter in the previous year, the business posted ($0.30) earnings per share. Stitch Fix’s quarterly revenue was down 12.6% on a year-over-year basis. Equities analysts forecast that Stitch Fix, Inc. will post -0.46 EPS for the current year.

Insiders Place Their Bets

In other Stitch Fix news, insider Anthony Bacos sold 16,720 shares of the firm’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $4.61, for a total transaction of $77,079.20. Following the transaction, the insider now owns 913,962 shares in the company, valued at $4,213,364.82. This trade represents a 1.80 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Katrina Lake sold 725,002 shares of the company’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $5.78, for a total value of $4,190,511.56. The disclosure for this sale can be found here. Company insiders own 16.95% of the company’s stock.

Hedge Funds Weigh In On Stitch Fix

Several hedge funds have recently bought and sold shares of the company. Disciplined Growth Investors Inc. MN boosted its position in shares of Stitch Fix by 48.1% during the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 13,734,485 shares of the company’s stock worth $38,731,000 after acquiring an additional 4,460,668 shares in the last quarter. Hodges Capital Management Inc. lifted its stake in Stitch Fix by 34.4% during the third quarter. Hodges Capital Management Inc. now owns 3,375,200 shares of the company’s stock worth $9,518,000 after purchasing an additional 864,100 shares during the last quarter. Public Employees Retirement System of Ohio boosted its holdings in shares of Stitch Fix by 2,253.6% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 146,750 shares of the company’s stock valued at $414,000 after purchasing an additional 140,515 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Stitch Fix by 32.0% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 499,142 shares of the company’s stock valued at $1,408,000 after purchasing an additional 121,084 shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake in shares of Stitch Fix by 11.7% in the 2nd quarter. Renaissance Technologies LLC now owns 4,432,600 shares of the company’s stock valued at $18,395,000 after purchasing an additional 465,900 shares during the last quarter. 71.04% of the stock is owned by institutional investors.

About Stitch Fix

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