FIGS, Inc. (NYSE:FIGS) Given Consensus Recommendation of “Reduce” by Brokerages

Shares of FIGS, Inc. (NYSE:FIGS) have been given an average recommendation of “Reduce” by the seven analysts that are presently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $5.87.

Several analysts recently commented on the stock. The Goldman Sachs Group decreased their price target on shares of FIGS from $6.75 to $4.85 and set a “sell” rating for the company in a report on Thursday, February 29th. Telsey Advisory Group lowered FIGS from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $11.00 to $6.00 in a report on Thursday, February 29th. Oppenheimer downgraded FIGS from an “outperform” rating to a “market perform” rating in a research note on Friday, March 8th. Barclays cut their price target on FIGS from $7.00 to $5.00 and set an “equal weight” rating for the company in a research note on Friday, March 1st. Finally, Bank of America reissued an “underperform” rating and issued a $4.50 price target (down previously from $8.50) on shares of FIGS in a research note on Tuesday, April 2nd.

Insiders Place Their Bets

In other FIGS news, insider Heather L. Hasson sold 27,547 shares of the company’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $5.93, for a total transaction of $163,353.71. Following the sale, the insider now directly owns 499,308 shares of the company’s stock, valued at $2,960,896.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CFO Daniella Turenshine sold 4,201 shares of FIGS stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $6.00, for a total value of $25,206.00. Following the completion of the transaction, the chief financial officer now directly owns 425,620 shares of the company’s stock, valued at $2,553,720. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Heather L. Hasson sold 27,547 shares of the company’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $5.93, for a total transaction of $163,353.71. Following the transaction, the insider now owns 499,308 shares in the company, valued at approximately $2,960,896.44. The disclosure for this sale can be found here. Insiders sold 49,334 shares of company stock worth $285,986 over the last three months. 21.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of FIGS. Tower Research Capital LLC TRC grew its position in shares of FIGS by 86.8% during the 3rd quarter. Tower Research Capital LLC TRC now owns 4,614 shares of the company’s stock worth $27,000 after buying an additional 2,144 shares during the period. Banque Cantonale Vaudoise raised its position in shares of FIGS by 50.0% during the 1st quarter. Banque Cantonale Vaudoise now owns 6,000 shares of the company’s stock valued at $30,000 after acquiring an additional 2,000 shares during the last quarter. Rockefeller Capital Management L.P. acquired a new position in shares of FIGS in the 4th quarter valued at $33,000. MetLife Investment Management LLC acquired a new position in shares of FIGS in the 1st quarter valued at $51,000. Finally, Lazard Asset Management LLC boosted its position in shares of FIGS by 158.9% in the 4th quarter. Lazard Asset Management LLC now owns 8,286 shares of the company’s stock worth $55,000 after purchasing an additional 5,085 shares during the last quarter. 92.21% of the stock is currently owned by institutional investors.

FIGS Price Performance

NYSE FIGS opened at $5.23 on Thursday. FIGS has a 12 month low of $4.37 and a 12 month high of $8.84. The company has a market capitalization of $887.78 million, a P/E ratio of 47.50, a PEG ratio of 17.02 and a beta of 1.48. The company’s 50 day simple moving average is $5.48 and its 200 day simple moving average is $6.12.

FIGS (NYSE:FIGS) last issued its earnings results on Wednesday, February 28th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.03. FIGS had a return on equity of 6.72% and a net margin of 4.15%. The business had revenue of $144.90 million for the quarter, compared to analysts’ expectations of $149.09 million. During the same period in the previous year, the firm posted $0.05 EPS. The company’s quarterly revenue was up .0% on a year-over-year basis. On average, analysts anticipate that FIGS will post 0.06 earnings per share for the current year.

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.