FIGS (NYSE:FIGS) Receives Market Perform Rating from Telsey Advisory Group

Telsey Advisory Group reaffirmed their market perform rating on shares of FIGS (NYSE:FIGS) in a research note released on Monday morning,Benzinga reports. Telsey Advisory Group currently has a $7.00 price target on the stock.

A number of other brokerages also recently weighed in on FIGS. Morgan Stanley boosted their target price on shares of FIGS from $4.25 to $5.00 and gave the stock an “equal weight” rating in a research note on Monday, July 21st. BTIG Research began coverage on shares of FIGS in a research note on Tuesday, October 14th. They issued a “buy” rating and a $9.00 price target on the stock. Wall Street Zen raised shares of FIGS from a “buy” rating to a “strong-buy” rating in a research note on Sunday, October 12th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of FIGS in a research report on Wednesday, October 8th. Finally, The Goldman Sachs Group upped their price target 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. Two equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $6.10.

FIGS Stock Performance

Shares of FIGS stock opened at $7.62 on Monday. FIGS has a twelve month low of $3.57 and a twelve month high of $8.49. The firm has a market cap of $1.24 billion, a P/E ratio of 190.42, a price-to-earnings-growth ratio of 4.78 and a beta of 1.33. The firm’s 50-day simple moving average is $7.24 and its 200-day simple moving average is $6.07.

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

Insider Buying and Selling at FIGS

In related news, CFO Sarah Oughtred sold 9,968 shares of FIGS stock in a transaction on Friday, October 3rd. The shares were sold at an average price of $7.36, for a total value of $73,364.48. Following the completion of the sale, the chief financial officer owned 868,090 shares of the company’s stock, valued at approximately $6,389,142.40. This trade represents a 1.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Catherine Eva Spear sold 62,213 shares of FIGS stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $6.88, for a total transaction of $428,025.44. Following the completion of the sale, the chief executive officer directly owned 1,907,033 shares of the company’s stock, valued at approximately $13,120,387.04. The trade was a 3.16% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 138,047 shares of company stock valued at $954,548. 29.44% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of FIGS. Farther Finance Advisors LLC boosted its stake in FIGS by 12,795.0% in the second 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. Capstone Financial Advisors Inc. bought a new position in shares of FIGS during the second quarter valued at approximately $56,000. Hudson Bay Capital Management LP bought a new position in FIGS in the second quarter worth $61,000. Walleye Capital LLC bought a new position in FIGS in the second quarter worth $65,000. Finally, Prudential Financial Inc. purchased a new stake in shares of FIGS in the second quarter worth $70,000. Hedge funds and other institutional investors 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.