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

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

A number of equities analysts recently weighed in on FIGS shares. Oppenheimer upgraded shares of FIGS from a “market perform” rating to an “outperform” rating and set a $22.00 price objective on the stock in a research report on Friday, March 20th. Telsey Advisory Group lifted their price objective on shares of FIGS to $17.00 and gave the company a “market perform” rating in a research report on Thursday, March 12th. Zacks Research lowered shares of FIGS from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 8th. The Goldman Sachs Group upgraded shares of FIGS from a “strong sell” rating to a “hold” rating in a research report on Friday, February 27th. Finally, BTIG Research reiterated a “buy” rating and issued a $20.00 price objective on shares of FIGS in a research report on Friday, April 24th.

FIGS Price Performance

NYSE:FIGS opened at $11.63 on Friday. The firm’s fifty day moving average price is $13.61 and its 200 day moving average price is $12.67. FIGS has a 1-year low of $4.98 and a 1-year high of $17.48. The firm has a market cap of $1.94 billion, a price-to-earnings ratio of 52.85 and a beta of 1.04.

FIGS (NYSE:FIGS) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.02. FIGS had a net margin of 6.10% and a return on equity of 9.69%. The firm had revenue of $159.90 million for the quarter, compared to analyst estimates of $153.15 million. FIGS’s revenue for the quarter was up 28.0% on a year-over-year basis. As a group, analysts expect that FIGS will post 0.25 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other FIGS news, Chairman Heather L. Hasson sold 32,385 shares of the business’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $14.33, for a total transaction of $464,077.05. Following the sale, the chairman directly owned 1,433,807 shares in the company, valued at approximately $20,546,454.31. The trade was a 2.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Catherine Eva Spear sold 62,335 shares of the business’s stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $14.44, for a total transaction of $900,117.40. Following the sale, the chief executive officer owned 1,794,964 shares in the company, valued at $25,919,280.16. The trade was a 3.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 129,189 shares of company stock worth $1,859,331. Corporate insiders own 27.06% of the company’s stock.

Institutional Investors Weigh In On FIGS

Institutional investors have recently made changes to their positions in the stock. Assetmark Inc. purchased a new stake in shares of FIGS during the 3rd quarter worth $35,000. Elevated Capital Advisors LLC purchased a new stake in shares of FIGS during the 4th quarter worth $45,000. Quarry LP boosted its position in shares of FIGS by 1,876.3% during the 3rd quarter. Quarry LP now owns 7,846 shares of the company’s stock worth $52,000 after purchasing an additional 7,449 shares in the last quarter. Hudson Bay Capital Management LP purchased a new stake in shares of FIGS during the 2nd quarter worth $61,000. Finally, Walleye Capital LLC purchased a new stake in shares of FIGS during the 2nd quarter worth $65,000. 92.21% of the stock is currently owned by hedge funds and other 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.