FIGS, Inc. (NYSE:FIGS) Given Average Rating of “Reduce” by Brokerages

Shares of FIGS, Inc. (NYSE:FIGS) have been assigned a consensus rating of “Reduce” from the six analysts that are currently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating and four have issued a hold rating on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $4.94.

A number of equities analysts have recently issued reports on the company. Telsey Advisory Group reaffirmed a “market perform” rating and set a $6.00 price target on shares of FIGS in a research report on Friday. Bank of America reiterated an “underperform” rating and issued a $4.50 price target (down from $8.50) on shares of FIGS in a research note on Tuesday, April 2nd. Oppenheimer lowered FIGS from an “outperform” rating to a “market perform” rating in a research note on Friday, March 8th. Barclays lowered their target price on shares of FIGS from $7.00 to $5.00 and set an “equal weight” rating for the company in a research note on Friday, March 1st. Finally, The Goldman Sachs Group cut their price target on shares of FIGS from $4.85 to $4.25 and set a “sell” rating on the stock in a research note on Tuesday, April 23rd.

Insider Activity

In related news, CFO Daniella Turenshine sold 4,201 shares of the company’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $6.00, for a total value of $25,206.00. Following the completion of the transaction, the chief financial officer now owns 425,620 shares of the company’s stock, valued at approximately $2,553,720. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other FIGS news, CFO Daniella Turenshine sold 4,201 shares of the company’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $6.00, for a total value of $25,206.00. Following the transaction, the chief financial officer now owns 425,620 shares of the company’s stock, valued at $2,553,720. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Heather L. Hasson sold 27,547 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $5.93, for a total transaction of $163,353.71. Following the sale, the insider now directly owns 499,308 shares in the company, valued at $2,960,896.44. The disclosure for this sale can be found here. Insiders sold a total of 49,334 shares of company stock valued at $285,986 in the last quarter. 21.40% of the stock is currently owned by company insiders.

Institutional Trading of FIGS

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Banque Cantonale Vaudoise increased its stake in shares of FIGS by 50.0% during the 1st quarter. Banque Cantonale Vaudoise now owns 6,000 shares of the company’s stock worth $30,000 after purchasing an additional 2,000 shares in the last quarter. Octavia Wealth Advisors LLC acquired a new position in shares of FIGS in the fourth quarter worth $75,000. International Assets Investment Management LLC purchased a new stake in FIGS during the 4th quarter worth about $76,000. Janney Montgomery Scott LLC acquired a new position in FIGS in the 3rd quarter valued at about $78,000. Finally, Counterpoint Mutual Funds LLC purchased a new position in FIGS in the 4th quarter valued at about $90,000. Hedge funds and other institutional investors own 92.21% of the company’s stock.

FIGS Stock Down 2.7 %

Shares of NYSE:FIGS opened at $5.04 on Monday. The firm has a fifty day simple moving average of $5.06 and a two-hundred day simple moving average of $5.97. FIGS has a 52 week low of $4.37 and a 52 week high of $8.84. The stock has a market capitalization of $856.35 million, a P/E ratio of 45.82, a PEG ratio of 16.27 and a beta of 1.41.

FIGS (NYSE:FIGS) last released its earnings results on Wednesday, February 28th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.03. The business had revenue of $144.90 million for the quarter, compared to analyst estimates of $149.09 million. FIGS had a return on equity of 6.72% and a net margin of 4.15%. The business’s revenue was up .0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.05 earnings per share. On average, analysts expect that FIGS will post 0.05 earnings per share for the current year.

About FIGS

FIGS, Inc operates as a direct-to-consumer healthcare apparel and lifestyle company in the United States and internationally. It designs and sells healthcare apparel and scrubwear and non-scrubwear offerings, such as outerwear, underscrubs, footwear, compression socks, lab coats, loungewear, and other apparel.