Stitch Fix’s (SFIX) “Market Perform” Rating Reaffirmed at Telsey Advisory Group

Stitch Fix (NASDAQ:SFIX)‘s stock had its “market perform” rating restated by investment analysts at Telsey Advisory Group in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $6.00 price objective on the stock. Telsey Advisory Group’s target price would indicate a potential upside of 25.26% from the company’s current price.

Stitch Fix Stock Up 1.3%

NASDAQ SFIX opened at $4.79 on Wednesday. The stock has a market capitalization of $616.94 million, a P/E ratio of -5.77 and a beta of 2.00. Stitch Fix has a 52-week low of $2.21 and a 52-week high of $6.99. The firm has a 50-day moving average price of $3.71 and a 200 day moving average price of $4.21.

Stitch Fix (NASDAQ:SFIX) last issued its earnings results on Wednesday, June 11th. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.05. Stitch Fix had a negative net margin of 7.71% and a negative return on equity of 32.71%. During the same quarter last year, the company earned ($0.18) EPS. The firm’s revenue for the quarter was up .7% on a year-over-year basis. On average, equities research analysts expect that Stitch Fix will post -0.44 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Stitch Fix news, insider Casey O’connor sold 50,000 shares of the company’s stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $3.04, for a total transaction of $152,000.00. Following the transaction, the insider now directly owns 575,755 shares in the company, valued at approximately $1,750,295.20. This represents a 7.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 16.95% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in SFIX. SBI Securities Co. Ltd. acquired a new position in Stitch Fix during the fourth quarter worth about $29,000. Wescott Financial Advisory Group LLC acquired a new stake in shares of Stitch Fix in the first quarter valued at approximately $32,000. Bellecapital International Ltd. acquired a new stake in shares of Stitch Fix in the fourth quarter valued at approximately $55,000. Savant Capital LLC acquired a new stake in shares of Stitch Fix in the fourth quarter valued at approximately $79,000. Finally, Polymer Capital Management US LLC acquired a new stake in shares of Stitch Fix in the fourth quarter valued at approximately $82,000. 71.04% of the stock is currently owned by institutional investors and hedge funds.

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.