FIGS (NYSE:FIGS) Given “Sell (D+)” Rating at Weiss Ratings

FIGS (NYSE:FIGS)‘s stock had its “sell (d+)” rating reissued by equities research analysts at Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

A number of other research analysts have also recently issued reports on FIGS. Wall Street Zen cut shares of FIGS from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 4th. The Goldman Sachs Group boosted their price objective on shares of FIGS from $3.75 to $4.50 and gave the stock a “sell” rating in a research report on Tuesday, July 22nd. Morgan Stanley boosted their price objective on shares of FIGS from $4.25 to $5.00 and gave the stock an “equal weight” rating in a research report on Monday, July 21st. Cowen restated a “hold” rating on shares of FIGS in a research report on Friday, August 8th. Finally, Telsey Advisory Group restated a “market perform” rating and issued a $7.00 price objective (up previously from $5.00) on shares of FIGS in a research report on Monday, August 4th. One research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Reduce” and a consensus target price of $5.38.

FIGS Trading Down 1.6%

NYSE FIGS opened at $6.90 on Wednesday. The stock’s 50 day moving average is $6.86 and its two-hundred day moving average is $5.61. The company has a market capitalization of $1.13 billion, a price-to-earnings ratio of 172.54, a PEG ratio of 4.50 and a beta of 1.33. FIGS has a 1-year low of $3.57 and a 1-year high of $7.54.

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

Insider Buying and Selling

In related news, CEO Catherine Eva Spear sold 65,866 shares of the stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $6.88, for a total transaction of $453,158.08. Following the sale, the chief executive officer owned 1,969,246 shares in the company, valued at approximately $13,548,412.48. This trade represents a 3.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Sarah Oughtred sold 99,834 shares of the stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $6.19, for a total transaction of $617,972.46. Following the sale, the chief financial officer owned 878,058 shares in the company, valued at $5,435,179.02. This represents a 10.21% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 237,881 shares of company stock worth $1,572,520. Company insiders own 29.44% of the company’s stock.

Institutional Trading of FIGS

Hedge funds have recently added to or reduced their stakes in the stock. Security Benefit Life Insurance Co. KS bought a new position in shares of FIGS during the first quarter valued at $6,962,000. Bamco Inc. NY raised its stake in shares of FIGS by 2.2% during the second quarter. Bamco Inc. NY now owns 59,974,407 shares of the company’s stock valued at $338,256,000 after acquiring an additional 1,302,823 shares during the last quarter. BNP Paribas Financial Markets raised its stake in shares of FIGS by 2,139.7% during the second quarter. BNP Paribas Financial Markets now owns 1,307,468 shares of the company’s stock valued at $7,374,000 after acquiring an additional 1,249,091 shares during the last quarter. Ameriprise Financial Inc. raised its stake in shares of FIGS by 9.0% during the second quarter. Ameriprise Financial Inc. now owns 13,936,468 shares of the company’s stock valued at $78,602,000 after acquiring an additional 1,144,962 shares during the last quarter. Finally, Pacer Advisors Inc. bought a new position in shares of FIGS during the first quarter valued at $4,640,000. Institutional investors and hedge funds own 92.21% of the company’s stock.

FIGS Company Profile

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.