Stitch Fix, Inc. (NASDAQ:SFIX – Get Rating) – Stock analysts at William Blair lowered their FY2023 EPS estimates for shares of Stitch Fix in a report issued on Wednesday, September 21st. William Blair analyst D. Carden now forecasts that the company will post earnings per share of ($1.82) for the year, down from their prior estimate of ($1.52). The consensus estimate for Stitch Fix's current full-year earnings is ($1.63) per share.
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Other analysts have also recently issued research reports about the stock. Morgan Stanley cut their target price on shares of Stitch Fix from $5.00 to $4.00 and set an "equal weight" rating for the company in a research note on Wednesday, September 21st. Truist Financial cut their target price on shares of Stitch Fix from $8.00 to $6.00 and set a "hold" rating for the company in a research note on Wednesday, September 21st. Piper Sandler restated an "underweight" rating on shares of Stitch Fix in a research note on Friday, July 22nd. MKM Partners dropped their price objective on shares of Stitch Fix from $6.00 to $5.00 and set a "neutral" rating for the company in a research note on Wednesday, September 21st. Finally, BMO Capital Markets dropped their price objective on shares of Stitch Fix from $6.00 to $5.00 and set a "market perform" rating for the company in a research note on Wednesday, September 21st. Two analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $9.45.
Stitch Fix Stock Performance
NASDAQ SFIX opened at $4.27 on Monday. The firm has a 50-day moving average of $5.90 and a 200-day moving average of $7.50. The stock has a market cap of $461.89 million, a PE ratio of -2.24 and a beta of 1.96. Stitch Fix has a 52-week low of $3.99 and a 52-week high of $44.65.
Institutional Investors Weigh In On Stitch Fix
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Working Capital Advisors UK Ltd. grew its holdings in shares of Stitch Fix by 8.0% during the 1st quarter. Working Capital Advisors UK Ltd. now owns 11,979,753 shares of the company's stock valued at $120,636,000 after purchasing an additional 891,379 shares during the last quarter. Vanguard Group Inc. grew its holdings in Stitch Fix by 6.5% during the 1st quarter. Vanguard Group Inc. now owns 7,964,510 shares of the company's stock worth $80,203,000 after acquiring an additional 483,213 shares during the last quarter. Slate Path Capital LP grew its holdings in Stitch Fix by 43.6% during the 4th quarter. Slate Path Capital LP now owns 4,282,056 shares of the company's stock worth $81,016,000 after acquiring an additional 1,300,000 shares during the last quarter. Disciplined Growth Investors Inc. MN grew its holdings in Stitch Fix by 3.2% during the 1st quarter. Disciplined Growth Investors Inc. MN now owns 3,011,295 shares of the company's stock worth $30,324,000 after acquiring an additional 93,276 shares during the last quarter. Finally, Federated Hermes Inc. grew its holdings in Stitch Fix by 56.6% during the 2nd quarter. Federated Hermes Inc. now owns 2,858,763 shares of the company's stock worth $14,122,000 after acquiring an additional 1,033,699 shares during the last quarter. 73.41% of the stock is owned by institutional investors.
Insider Buying and Selling at Stitch Fix
In other news, Director J William Gurley bought 1,000,000 shares of the firm's stock in a transaction on Friday, July 8th. The shares were purchased at an average cost of $5.43 per share, with a total value of $5,430,000.00. Following the acquisition, the director now directly owns 2,149,762 shares in the company, valued at $11,673,207.66. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 27.01% of the company's stock.
Stitch Fix Company Profile
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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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