Stitch Fix Inc (NASDAQ:SFIX) was the recipient of a large growth in short interest during the month of July. As of July 31st, there was short interest totalling 13,564,600 shares, a growth of 9.1% from the June 30th total of 12,434,000 shares. Based on an average daily trading volume, of 3,030,000 shares, the short-interest ratio is presently 4.5 days. Approximately 34.6% of the shares of the company are short sold.
NASDAQ SFIX traded down $0.54 during trading on Thursday, reaching $20.25. The company’s stock had a trading volume of 2,808,174 shares, compared to its average volume of 2,366,919. The stock has a market capitalization of $2.22 billion, a PE ratio of 51.92, a P/E/G ratio of 3.64 and a beta of 3.20. The firm has a fifty day moving average of $27.12 and a 200 day moving average of $26.73. Stitch Fix has a one year low of $16.05 and a one year high of $52.44.
Stitch Fix (NASDAQ:SFIX) last announced its earnings results on Wednesday, June 5th. The company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.10. The business had revenue of $409.00 million for 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 quarterly revenue was up 29.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.09 EPS. As a group, equities analysts forecast that Stitch Fix will post 0.32 earnings per share for the current year.
In other news, insider Mike C. Smith sold 15,000 shares of the company’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $28.07, for a total transaction of $421,050.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Katrina Lake sold 100,000 shares of the company’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $23.36, for a total value of $2,336,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 1,030,037 shares of company stock worth $29,669,407 in the last ninety days. Insiders own 56.97% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Weaver Consulting Group bought a new position in shares of Stitch Fix during the 1st quarter valued at about $28,000. Captrust Financial Advisors increased its position in shares of 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 purchasing an additional 980 shares during the last quarter. Bell Rock Capital LLC bought a new position in shares of Stitch Fix during the 2nd quarter valued at about $51,000. Botty Investors LLC bought a new position in shares of Stitch Fix during the 1st quarter valued at about $61,000. Finally, Valeo Financial Advisors LLC increased its position in shares of Stitch Fix by 30.3% during the 2nd quarter. Valeo Financial Advisors LLC now owns 2,159 shares of the company’s stock valued at $69,000 after purchasing an additional 502 shares during the last quarter. Institutional investors and hedge funds own 29.83% of the company’s stock.
A number of analysts recently issued reports on SFIX shares. Stifel Nicolaus upgraded Stitch Fix from a “hold” rating to a “buy” rating and set a $35.00 price objective on the stock in a research note on Monday, July 22nd. Goldman Sachs Group upgraded Stitch Fix from a “neutral” rating to a “buy” rating and set a $38.00 price objective on the stock in a research note on Friday, July 12th. TheStreet upgraded Stitch Fix from a “d” rating to a “c-” rating in a research note on Wednesday, June 26th. Zacks Investment Research lowered Stitch Fix from a “buy” rating to a “hold” rating in a research note on Saturday, August 3rd. Finally, JPMorgan Chase & Co. boosted their price objective on Stitch Fix from $30.00 to $34.00 and gave the company a “neutral” rating in a research note on Thursday, June 6th. Eight analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $35.50.
Stitch Fix Company Profile
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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