FIGS, Inc. (NYSE:FIGS) Receives $15.93 Consensus Price Target from Analysts

FIGS, Inc. (NYSE:FIGS) has received an average recommendation of “Moderate Buy” from the eleven brokerages that are currently covering the company, MarketBeat.com reports. Six research analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $15.9286.

FIGS has been the subject of several recent analyst reports. KeyCorp reiterated an “overweight” rating on shares of FIGS in a research note on Tuesday, June 23rd. Zacks Research lowered shares of FIGS from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 8th. Weiss Ratings cut shares of FIGS from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 13th. BTIG Research reaffirmed a “buy” rating and issued a $20.00 price objective on shares of FIGS in a research report on Friday, April 24th. Finally, Morgan Stanley increased their price objective 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.

Insider Activity at FIGS

In related news, Chairman Heather L. Hasson sold 32,385 shares of the stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $14.33, for a total transaction of $464,077.05. Following the completion of the sale, the chairman directly owned 1,433,807 shares of the company’s stock, valued at approximately $20,546,454.31. This trade represents a 2.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Sarah Oughtred sold 23,597 shares of FIGS stock in a transaction on Monday, May 4th. The stock was sold at an average price of $14.33, for a total value of $338,145.01. Following the sale, the chief financial officer owned 1,129,791 shares in the company, valued at $16,189,905.03. This trade represents a 2.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 27.06% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Bank of America Corp DE increased its position in shares of FIGS by 190.3% during the 1st quarter. Bank of America Corp DE now owns 790,013 shares of the company’s stock valued at $11,668,000 after purchasing an additional 517,918 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of FIGS by 13.9% in the 1st quarter. The Manufacturers Life Insurance Company now owns 60,354 shares of the company’s stock worth $891,000 after buying an additional 7,348 shares during the last quarter. Castleark Management LLC purchased a new position in shares of FIGS in the 1st quarter worth about $2,939,000. Entropy Technologies LP purchased a new position in shares of FIGS in the 1st quarter worth about $606,000. Finally, Arrowstreet Capital Limited Partnership grew its position in FIGS by 167.2% during the first quarter. Arrowstreet Capital Limited Partnership now owns 4,070,258 shares of the company’s stock valued at $60,118,000 after buying an additional 2,546,905 shares during the period. Institutional investors own 92.21% of the company’s stock.

FIGS Trading Up 4.7%

Shares of FIGS stock opened at $9.96 on Friday. The stock has a fifty day simple moving average of $11.13 and a 200 day simple moving average of $12.56. FIGS has a 12-month low of $6.07 and a 12-month high of $17.48. The company has a market capitalization of $1.66 billion, a P/E ratio of 45.28 and a beta of 1.01.

FIGS (NYSE:FIGS) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.03 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.02. The business had revenue of $159.90 million during the quarter, compared to analyst estimates of $153.15 million. FIGS had a return on equity of 9.69% and a net margin of 6.10%.FIGS’s revenue was up 28.0% compared to the same quarter last year. On average, analysts predict that FIGS will post 0.26 EPS for the current year.

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.