Brokerages Set FIGS, Inc. (NYSE:FIGS) PT at $5.87

FIGS, Inc. (NYSE:FIGS) has been given a consensus recommendation of “Reduce” by the seven ratings firms that are covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $5.87.

Several brokerages have recently commented on FIGS. Oppenheimer cut FIGS from an “outperform” rating to a “market perform” rating in a report on Friday, March 8th. The Goldman Sachs Group decreased their target price on FIGS from $6.75 to $4.85 and set a “sell” rating on the stock in a report on Thursday, February 29th. Barclays cut their price target on FIGS from $7.00 to $5.00 and set an “equal weight” rating on the stock in a research note on Friday, March 1st. Telsey Advisory Group lowered FIGS from an “outperform” rating to a “market perform” rating and cut their price target for the company from $11.00 to $6.00 in a research note on Thursday, February 29th. Finally, Bank of America reaffirmed 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.

FIGS Price Performance

Shares of NYSE:FIGS opened at $4.75 on Thursday. The business’s fifty day moving average price is $5.43 and its two-hundred day moving average price is $6.10. FIGS has a fifty-two week low of $4.37 and a fifty-two week high of $8.84. The stock has a market capitalization of $806.22 million, a price-to-earnings ratio of 43.14, a price-to-earnings-growth ratio of 15.95 and a beta of 1.49.

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

Insider Activity

In other FIGS news, insider Heather L. Hasson sold 27,547 shares of the stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $5.93, for a total value of $163,353.71. Following the transaction, the insider now owns 499,308 shares of the company’s stock, valued at $2,960,896.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other FIGS news, CFO Daniella Turenshine sold 15,762 shares of the stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $5.54, for a total value of $87,321.48. Following the transaction, the chief financial officer now owns 409,858 shares of the company’s stock, valued at $2,270,613.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Heather L. Hasson sold 27,547 shares of the stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $5.93, for a total value of $163,353.71. Following the completion of the transaction, the insider now directly owns 499,308 shares in the company, valued at approximately $2,960,896.44. The disclosure for this sale can be found here. Insiders have sold 49,334 shares of company stock valued at $285,986 over the last 90 days. 21.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On FIGS

Hedge funds have recently added to or reduced their stakes in the stock. Ameriprise Financial Inc. raised its position in shares of FIGS by 121.1% during the third quarter. Ameriprise Financial Inc. now owns 5,079,980 shares of the company’s stock worth $29,972,000 after purchasing an additional 2,782,340 shares during the period. Wellington Management Group LLP raised its position in shares of FIGS by 321.5% during the fourth quarter. Wellington Management Group LLP now owns 3,075,794 shares of the company’s stock worth $21,377,000 after purchasing an additional 2,345,994 shares during the period. Eagle Asset Management Inc. acquired a new stake in shares of FIGS during the fourth quarter worth about $12,152,000. Bamco Inc. NY raised its position in shares of FIGS by 6.2% during the third quarter. Bamco Inc. NY now owns 25,032,830 shares of the company’s stock worth $147,694,000 after purchasing an additional 1,470,706 shares during the period. Finally, State Street Corp raised its position in shares of FIGS by 78.2% during the second quarter. State Street Corp now owns 2,614,302 shares of the company’s stock worth $23,816,000 after purchasing an additional 1,146,907 shares during the period. Institutional investors and hedge funds own 92.21% of the company’s stock.

FIGS Company Profile

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.