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

Shares of FIGS, Inc. (NYSE:FIGS) have received a consensus recommendation of “Moderate Buy” from the eleven ratings firms that are covering the company, MarketBeat reports. Five research analysts have rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $13.9286.

A number of equities analysts have recently commented on FIGS shares. The Goldman Sachs Group upgraded FIGS from a “strong sell” rating to a “hold” rating in a report on Friday, February 27th. BTIG Research restated a “buy” rating and set a $15.00 price target on shares of FIGS in a report on Friday, February 27th. Wall Street Zen upgraded FIGS from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 28th. KeyCorp raised shares of FIGS from a “sector weight” rating to an “overweight” rating and set a $17.00 price objective for the company in a research note on Friday, February 27th. Finally, Barclays upgraded shares of FIGS from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 27th.

FIGS Stock Down 4.7%

FIGS stock opened at $14.71 on Friday. FIGS has a 52-week low of $3.57 and a 52-week high of $17.48. The firm’s fifty day moving average is $12.88 and its 200 day moving average is $10.57. The company has a market cap of $2.45 billion, a price-to-earnings ratio of 77.44 and a beta of 1.22.

FIGS (NYSE:FIGS) last issued its quarterly earnings data on Thursday, February 26th. The company reported $0.10 EPS for the quarter, topping 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 business had revenue of $201.90 million during the quarter, compared to analysts’ expectations of $165.33 million. During the same period last year, the company posted $0.01 EPS. The business’s revenue was up 33.0% on a year-over-year basis. On average, equities research analysts anticipate that FIGS will post 0.01 earnings per share for the current fiscal year.

Insider Buying and Selling

In other FIGS news, CEO Catherine Eva Spear sold 49,734 shares of the firm’s stock in a transaction dated Tuesday, January 6th. The shares were sold at an average price of $11.38, for a total value of $565,972.92. Following the completion of the sale, the chief executive officer owned 1,857,299 shares of the company’s stock, valued at $21,136,062.62. This trade represents a 2.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Heather L. Hasson sold 556,327 shares of the business’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 value of $9,374,109.95. Following 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 disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 662,140 shares of company stock valued at $10,542,161. Company insiders own 29.44% of the company’s stock.

Institutional Investors Weigh In On FIGS

Institutional investors and hedge funds have recently modified their holdings of the business. Bamco Inc. NY boosted its holdings in FIGS by 2.2% during the 2nd quarter. Bamco Inc. NY now owns 59,974,407 shares of the company’s stock valued at $338,256,000 after acquiring an additional 1,302,823 shares during the period. Ameriprise Financial Inc. increased 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 worth $78,602,000 after purchasing an additional 1,144,962 shares during the period. Vanguard Group Inc. lifted its position in shares of FIGS by 4.6% during the third quarter. Vanguard Group Inc. now owns 9,609,320 shares of the company’s stock worth $64,286,000 after purchasing an additional 425,189 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of FIGS by 1.6% during the third quarter. Dimensional Fund Advisors LP now owns 4,417,008 shares of the company’s stock valued at $29,549,000 after purchasing an additional 70,660 shares during the period. Finally, Marshall Wace LLP boosted its stake in shares of FIGS by 66.2% during the fourth 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 period. 92.21% of the stock is owned by institutional investors.

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.