Zacks: Brokerages Expect Stitch Fix Inc (NASDAQ:SFIX) Will Post Quarterly Sales of $432.10 Million

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Wall Street brokerages forecast that Stitch Fix Inc (NASDAQ:SFIX) will post $432.10 million in sales for the current fiscal quarter, Zacks reports. Seven analysts have issued estimates for Stitch Fix’s earnings. The lowest sales estimate is $427.00 million and the highest is $435.00 million. Stitch Fix posted sales of $318.30 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 35.8%. The firm is scheduled to report its next quarterly earnings results on Monday, October 7th.

According to Zacks, analysts expect that Stitch Fix will report full-year sales of $1.58 billion for the current year, with estimates ranging from $1.57 billion to $1.58 billion. For the next financial year, analysts forecast that the firm will post sales of $1.92 billion, with estimates ranging from $1.86 billion to $1.96 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Stitch Fix.

Stitch Fix (NASDAQ:SFIX) last issued its quarterly earnings results on Wednesday, June 5th. The company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.10. Stitch Fix had a net margin of 3.27% and a return on equity of 13.77%. The firm had revenue of $409.00 million during the quarter, compared to the consensus estimate of $395.06 million. During the same period in the prior year, the firm earned $0.09 EPS. The business’s revenue was up 29.1% on a year-over-year basis.

A number of analysts have weighed in on SFIX shares. TheStreet downgraded shares of Stitch Fix from a “c-” rating to a “d+” rating in a report on Monday, May 6th. Zacks Investment Research downgraded shares of Stitch Fix from a “buy” rating to a “hold” rating in a report on Wednesday, May 15th. Barclays increased their price target on shares of Stitch Fix to $32.00 and gave the company an “equal weight” rating in a report on Wednesday, March 13th. SunTrust Banks increased their price target on shares of Stitch Fix to $43.00 and gave the company a “buy” rating in a report on Wednesday, March 13th. Finally, Wells Fargo & Co increased their price target on shares of Stitch Fix from $22.00 to $30.00 and gave the company a “market perform” rating in a report on Wednesday, March 13th. Seven analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $36.11.

Stitch Fix stock traded down $0.32 during mid-day trading on Friday, reaching $29.26. The company had a trading volume of 4,829,829 shares, compared to its average volume of 2,161,529. Stitch Fix has a 52 week low of $16.05 and a 52 week high of $52.44. The company has a market cap of $2.80 billion, a PE ratio of 75.03, a price-to-earnings-growth ratio of 4.05 and a beta of 2.99.

In other news, major shareholder Alexandre Balkanski sold 191,332 shares of the firm’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $28.05, for a total transaction of $5,366,862.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Bruce Dunlevie sold 63,444 shares of the firm’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $32.00, for a total transaction of $2,030,208.00. The disclosure for this sale can be found here. Insiders have sold a total of 841,587 shares of company stock valued at $23,461,870 over the last ninety days. 56.97% of the stock is owned by insiders.

Several large investors have recently added to or reduced their stakes in SFIX. AdvisorNet Financial Inc bought a new position in shares of Stitch Fix during the 4th quarter worth about $29,000. Botty Investors LLC acquired a new stake in shares of Stitch Fix during the 1st quarter worth about $61,000. Capital Investment Advisory Services LLC acquired a new stake in shares of Stitch Fix during the 4th quarter worth about $62,000. Victory Capital Management Inc. acquired a new stake in shares of Stitch Fix during the 1st quarter worth about $134,000. Finally, FNY Investment Advisers LLC acquired a new stake in shares of Stitch Fix during the 1st quarter worth about $141,000. 29.54% of the stock is owned by institutional investors.

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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Earnings History and Estimates for Stitch Fix (NASDAQ:SFIX)

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