FIGS, Inc. (NYSE:FIGS) Receives Average Recommendation of “Reduce” from Analysts

FIGS, Inc. (NYSE:FIGS) has earned an average recommendation of “Reduce” from the six analysts that are covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating and four have issued a hold rating on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $4.94.

Several research firms have recently commented on FIGS. Barclays reduced their price target on shares of FIGS from $7.00 to $5.00 and set an “equal weight” rating for the company in a report on Friday, March 1st. Oppenheimer downgraded shares of FIGS from an “outperform” rating to a “market perform” rating in a research note on Friday, March 8th. The Goldman Sachs Group decreased their price target on FIGS from $4.85 to $4.25 and set a “sell” rating for the company in a research note on Tuesday, April 23rd. Bank of America restated an “underperform” rating and set a $4.50 price target (down previously from $8.50) on shares of FIGS in a research note on Tuesday, April 2nd. Finally, Telsey Advisory Group restated a “market perform” rating and issued a $6.00 target price on shares of FIGS in a research note on Friday.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Banque Cantonale Vaudoise grew its holdings in FIGS by 50.0% in the 1st quarter. Banque Cantonale Vaudoise now owns 6,000 shares of the company’s stock worth $30,000 after buying an additional 2,000 shares in the last quarter. Swiss National Bank raised its position in shares of FIGS by 1.1% during the 3rd quarter. Swiss National Bank now owns 280,700 shares of the company’s stock worth $1,656,000 after buying an additional 3,100 shares in the last quarter. Janney Montgomery Scott LLC boosted its holdings in shares of FIGS by 23.6% in the first quarter. Janney Montgomery Scott LLC now owns 16,977 shares of the company’s stock valued at $85,000 after acquiring an additional 3,247 shares in the last quarter. Evoke Wealth LLC increased its stake in shares of FIGS by 77.8% during the fourth quarter. Evoke Wealth LLC now owns 19,191 shares of the company’s stock valued at $133,000 after acquiring an additional 8,395 shares during the period. Finally, Corton Capital Inc. lifted its position in FIGS by 76.1% in the third quarter. Corton Capital Inc. now owns 22,130 shares of the company’s stock worth $131,000 after purchasing an additional 9,563 shares during the period. 92.21% of the stock is owned by hedge funds and other institutional investors.

FIGS Stock Down 2.7 %

Shares of FIGS opened at $5.04 on Monday. FIGS has a 52 week low of $4.37 and a 52 week high of $8.84. The stock has a market cap of $856.35 million, a price-to-earnings ratio of 45.82, a PEG ratio of 16.27 and a beta of 1.41. The business has a 50-day simple moving average of $5.06 and a two-hundred day simple moving average of $5.97.

FIGS (NYSE:FIGS) last posted its quarterly earnings results on Wednesday, February 28th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $149.09 million. During the same period in the prior year, the company posted $0.05 EPS. The firm’s revenue for the quarter was up .0% compared to the same quarter last year. On average, equities analysts anticipate that FIGS will post 0.05 earnings per share for the current fiscal 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.