FIGS, Inc. (NYSE:FIGS) Receives Average Recommendation of “Hold” from Analysts

FIGS, Inc. (NYSE:FIGS) has been assigned an average recommendation of “Hold” from the five brokerages that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $5.3750.

Several analysts have recently issued reports on the stock. The Goldman Sachs Group boosted their price objective on shares of FIGS from $3.75 to $4.50 and gave the company a “sell” rating in a research note on Tuesday, July 22nd. Wall Street Zen upgraded FIGS from a “hold” rating to a “strong-buy” rating in a research note on Saturday, August 9th. Telsey Advisory Group reissued a “market perform” rating and issued a $7.00 target price (up previously from $5.00) on shares of FIGS in a research report on Monday, August 4th. Cowen reissued a “hold” rating on shares of FIGS in a research report on Friday, August 8th. Finally, Barclays reissued a “positive” rating on shares of FIGS in a report on Tuesday, May 13th.

FIGS Trading Down 4.9%

Shares of FIGS stock opened at $6.71 on Wednesday. The company has a market capitalization of $1.09 billion, a price-to-earnings ratio of 167.67, a PEG ratio of 4.52 and a beta of 1.34. The firm has a 50-day moving average price of $6.39 and a 200 day moving average price of $5.25. FIGS has a twelve month low of $3.57 and a twelve month high of $7.31.

FIGS (NYSE:FIGS) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.02. The business had revenue of $152.64 million during the quarter, compared to the consensus estimate of $144.17 million. FIGS had a net margin of 1.26% and a return on equity of 1.84%. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.01 earnings per share. As a group, research analysts predict that FIGS will post 0.01 earnings per share for the current year.

Insider Buying and Selling

In other FIGS news, CFO Sarah Oughtred sold 99,834 shares of FIGS stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $6.19, for a total value of $617,972.46. Following the transaction, the chief financial officer owned 878,058 shares in the company, valued at approximately $5,435,179.02. The trade was a 10.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Catherine Eva Spear sold 65,866 shares of FIGS stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $6.88, for a total transaction of $453,158.08. Following the transaction, the chief executive officer owned 1,969,246 shares in the company, valued at approximately $13,548,412.48. The trade was a 3.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. 29.44% of the stock is owned by insiders.

Hedge Funds Weigh In On FIGS

A number of hedge funds have recently made changes to their positions in FIGS. MetLife Investment Management LLC boosted its position in shares of FIGS by 3.1% during the fourth quarter. MetLife Investment Management LLC now owns 78,952 shares of the company’s stock worth $489,000 after purchasing an additional 2,355 shares in the last quarter. Malaga Cove Capital LLC raised its holdings in shares of FIGS by 1.2% in the fourth quarter. Malaga Cove Capital LLC now owns 216,669 shares of the company’s stock valued at $1,341,000 after purchasing an additional 2,547 shares during the last quarter. Corient Private Wealth LLC boosted its holdings in FIGS by 0.8% during the second quarter. Corient Private Wealth LLC now owns 332,938 shares of the company’s stock worth $1,878,000 after purchasing an additional 2,612 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in FIGS by 3.9% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 73,943 shares of the company’s stock valued at $458,000 after purchasing an additional 2,807 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its position in FIGS by 12,795.0% during the 2nd quarter. Farther Finance Advisors LLC now owns 5,158 shares of the company’s stock worth $29,000 after buying an additional 5,118 shares in the last quarter. Institutional investors and hedge funds own 92.21% of the company’s stock.

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.