FIGS, Inc. (NYSE:FIGS) Receives Average Recommendation of “Moderate Buy” from Brokerages

FIGS, Inc. (NYSE:FIGS) has received an average rating of “Moderate Buy” from the eleven ratings firms that are covering the firm, MarketBeat.com reports. Five investment analysts have rated the stock with a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $13.9286.

FIGS has been the subject of several recent research reports. Wall Street Zen upgraded FIGS from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 28th. Weiss Ratings restated a “hold (c-)” rating on shares of FIGS in a research note on Monday, December 29th. BTIG Research reaffirmed a “buy” rating and issued a $15.00 price objective on shares of FIGS in a report on Friday, February 27th. Barclays upgraded FIGS from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 27th. Finally, The Goldman Sachs Group upgraded FIGS from a “strong sell” rating to a “hold” rating in a research report on Friday, February 27th.

FIGS Stock Performance

NYSE:FIGS opened at $14.18 on Friday. FIGS has a 52 week low of $3.57 and a 52 week high of $17.48. The firm’s 50-day simple moving average is $12.56 and its 200 day simple moving average is $10.27. The firm has a market cap of $2.33 billion, a price-to-earnings ratio of 74.61 and a beta of 1.22.

FIGS (NYSE:FIGS) last posted its quarterly earnings data on Thursday, February 26th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.08. FIGS had a net margin of 5.43% and a return on equity of 8.41%. The firm had revenue of $201.90 million during the quarter, compared to the consensus estimate of $165.33 million. During the same quarter in the previous year, the firm posted $0.01 EPS. The business’s revenue for the quarter was up 33.0% compared to the same quarter last year. Sell-side analysts anticipate that FIGS will post 0.01 EPS for the current year.

Insider Buying and Selling

In other FIGS news, insider Heather L. Hasson sold 556,327 shares of the firm’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $16.85, for a total value of $9,374,109.95. Following the transaction, the insider directly owned 1,251,967 shares of the company’s stock, valued at $21,095,643.95. This trade represents a 30.77% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Catherine Eva Spear sold 49,734 shares of the business’s stock in a transaction that occurred on Tuesday, January 6th. The shares were sold at an average price of $11.38, for a total transaction of $565,972.92. Following the completion of the transaction, the chief executive officer owned 1,857,299 shares of the company’s stock, valued at $21,136,062.62. The trade was a 2.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 662,140 shares of company stock valued at $10,542,161 over the last quarter. 29.44% of the stock is owned by company insiders.

Institutional Investors Weigh In On FIGS

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Marshall Wace LLP increased its stake in shares of FIGS by 66.2% in the 4th quarter. Marshall Wace LLP now owns 4,297,868 shares of the company’s stock valued at $48,824,000 after purchasing an additional 1,712,610 shares during the last quarter. Bamco Inc. NY lifted its position in shares of FIGS by 2.2% during the 2nd quarter. Bamco Inc. NY now owns 59,974,407 shares of the company’s stock worth $338,256,000 after buying an additional 1,302,823 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in FIGS by 2,139.7% in the second quarter. BNP Paribas Financial Markets now owns 1,307,468 shares of the company’s stock valued at $7,374,000 after buying an additional 1,249,091 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in FIGS by 9.0% in the second quarter. Ameriprise Financial Inc. now owns 13,936,468 shares of the company’s stock valued at $78,602,000 after buying an additional 1,144,962 shares in the last quarter. Finally, Squarepoint Ops LLC grew its position in FIGS by 940.7% in the second quarter. Squarepoint Ops LLC now owns 924,092 shares of the company’s stock valued at $5,212,000 after acquiring an additional 835,300 shares during the last quarter. 92.21% of the stock is currently owned by institutional investors.

About FIGS

FIGS, Inc operates as a direct-to-consumer designer and retailer of medical apparel and accessories. The company offers a range of products tailored to the needs of healthcare professionals, including scrub sets, lab coats, tops, bottoms, outerwear, footwear, and performance fabrics designed for comfort, durability, and antimicrobial protection. Through its e-commerce platform and a growing network of retail stores, FIGS provides customizable uniforms and accessories with a focus on innovative materials and functional design features such as four-way stretch fabrics, moisture-wicking technology, and multiple secure pockets.

Founded in 2013 by Heather Hasson and Trina Spear, FIGS set out to disrupt the traditional medical uniform market by emphasizing both form and function.