Telsey Advisory Group Reaffirms Market Perform Rating for FIGS (NYSE:FIGS)

FIGS (NYSE:FIGS)‘s stock had its “market perform” rating reissued by analysts at Telsey Advisory Group in a note issued to investors on Monday, Benzinga reports. They presently have a $6.00 target price on the stock. Telsey Advisory Group’s target price suggests a potential upside of 4.17% from the company’s current price.

A number of other research firms also recently weighed in on FIGS. The Goldman Sachs Group dropped their price target on shares of FIGS from $4.85 to $4.25 and set a “sell” rating on the stock in a research note on Tuesday, April 23rd. Roth Mkm reduced their price target on FIGS from $7.50 to $6.75 and set a “buy” rating for the company in a report on Friday, May 10th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, FIGS currently has an average rating of “Hold” and an average target price of $5.30.

FIGS Stock Down 4.2 %

Shares of FIGS stock traded down $0.25 during midday trading on Monday, hitting $5.76. The company’s stock had a trading volume of 1,490,839 shares, compared to its average volume of 3,652,610. The firm has a market capitalization of $980.51 million, a P/E ratio of 52.36, a PEG ratio of 86.00 and a beta of 1.42. FIGS has a 1-year low of $4.30 and a 1-year high of $7.98. The stock has a 50-day simple moving average of $5.54 and a 200-day simple moving average of $5.47.

FIGS (NYSE:FIGS) last issued its earnings results on Thursday, May 9th. The company reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.02. FIGS had a return on equity of 6.12% and a net margin of 4.07%. The company had revenue of $119.29 million for the quarter, compared to the consensus estimate of $117.38 million. During the same quarter in the prior year, the company earned $0.01 EPS. The firm’s quarterly revenue was down .8% on a year-over-year basis. As a group, sell-side analysts predict that FIGS will post 0.03 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Heather L. Hasson sold 28,614 shares of FIGS stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $4.89, for a total value of $139,922.46. Following the transaction, the insider now owns 468,870 shares in the company, valued at approximately $2,292,774.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 32,649 shares of company stock valued at $161,206 over the last 90 days. 22.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On FIGS

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Banque Cantonale Vaudoise lifted its position in shares of 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 acquiring an additional 2,000 shares during the period. Dakota Wealth Management acquired a new stake in FIGS during the second quarter worth $57,000. Octavia Wealth Advisors LLC bought a new stake in FIGS in the 4th quarter valued at $75,000. International Assets Investment Management LLC acquired a new position in shares of FIGS in the 4th quarter valued at $76,000. Finally, Counterpoint Mutual Funds LLC bought a new stake in FIGS in the fourth quarter valued at about $90,000. 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.