FIGS (NYSE:FIGS) Earns “Buy” Rating from BTIG Research

FIGS (NYSE:FIGS)‘s stock had its “buy” rating restated by equities researchers at BTIG Research in a note issued to investors on Friday,Benzinga reports. They currently have a $20.00 price target on the stock. BTIG Research’s price target would suggest a potential upside of 21.15% from the stock’s previous close.

Several other equities research analysts also recently commented on the stock. Oppenheimer raised shares of FIGS from a “market perform” rating to an “outperform” rating and set a $22.00 target price for the company in a research note on Friday, March 20th. Wall Street Zen raised shares of FIGS from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 28th. Morgan Stanley upped their target price on shares of FIGS from $8.00 to $15.00 and gave the company an “equal weight” rating in a research note on Monday, April 13th. KeyCorp raised shares of FIGS from a “sector weight” rating to an “overweight” rating and set a $17.00 target price for the company in a research note on Friday, February 27th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of FIGS in a research note on Friday, April 10th. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, FIGS currently has a consensus rating of “Moderate Buy” and a consensus price target of $15.64.

FIGS Stock Performance

Shares of NYSE:FIGS opened at $16.51 on Friday. FIGS has a 52 week low of $3.82 and a 52 week high of $17.48. The company has a market capitalization of $2.75 billion, a PE ratio of 86.89 and a beta of 1.20. The company has a 50 day moving average price of $14.49 and a two-hundred day moving average price of $11.69.

FIGS (NYSE:FIGS) last issued its earnings results on Thursday, February 26th. The company reported $0.10 EPS for the quarter, beating the consensus estimate 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 prior year, the firm earned $0.01 earnings per share. The business’s quarterly revenue was up 33.0% on a year-over-year basis. On average, sell-side analysts forecast that FIGS will post 0.24 earnings per share for the current year.

Insider Activity

In other news, CEO Catherine Eva Spear sold 62,335 shares of the company’s stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $14.44, for a total value of $900,117.40. Following the completion of the transaction, the chief executive officer owned 1,794,964 shares in the company, valued at $25,919,280.16. This represents a 3.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Heather L. Hasson sold 556,327 shares of the company’s stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $16.85, for a total transaction of $9,374,109.95. Following the completion of the transaction, the insider 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 SEC filing for this sale provides additional information. Insiders sold 675,098 shares of company stock worth $10,912,375 over the last quarter. 29.44% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in FIGS. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of FIGS by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 77,219 shares of the company’s stock valued at $354,000 after buying an additional 3,276 shares during the period. Woodline Partners LP acquired a new position in FIGS during the first quarter worth $3,199,000. Creative Planning boosted its holdings in FIGS by 181.3% during the second quarter. Creative Planning now owns 65,740 shares of the company’s stock worth $371,000 after purchasing an additional 42,367 shares during the last quarter. Prudential Financial Inc. acquired a new position in FIGS during the second quarter worth $70,000. Finally, Russell Investments Group Ltd. boosted its holdings in FIGS by 102.4% during the second quarter. Russell Investments Group Ltd. now owns 147,440 shares of the company’s stock worth $832,000 after purchasing an additional 74,578 shares during the last quarter. Institutional investors and hedge funds own 92.21% of the company’s stock.

FIGS Company Profile

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.