FIGS, Inc. (NYSE:FIGS) Given Consensus Recommendation of “Reduce” by Brokerages

Shares of FIGS, Inc. (NYSE:FIGS) have received a consensus rating of “Reduce” from the six ratings firms that are covering the firm, MarketBeat reports. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating on the company. The average 1 year target price among brokers that have covered the stock in the last year is $5.40.

A number of equities research analysts have recently commented on the stock. The Goldman Sachs Group increased their target price on shares of FIGS from $4.25 to $4.75 and gave the company a “sell” rating in a research report on Friday, August 9th. Telsey Advisory Group reiterated a “market perform” rating and issued a $6.00 price objective on shares of FIGS in a report on Monday, August 5th.

FIGS Trading Down 0.4 %

FIGS stock opened at $6.67 on Thursday. FIGS has a 12-month low of $4.30 and a 12-month high of $7.98. The business’s 50-day moving average is $5.87 and its 200 day moving average is $5.48. The stock has a market cap of $1.14 billion, a price-to-earnings ratio of 60.64, a PEG ratio of 80.53 and a beta of 1.43.

FIGS (NYSE:FIGS) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.01 earnings per share (EPS) for the quarter. FIGS had a return on equity of 4.94% and a net margin of 3.39%. The firm had revenue of $144.23 million for the quarter, compared to analyst estimates of $142.25 million. During the same period in the previous year, the company posted $0.02 earnings per share. The business’s revenue was up 4.4% on a year-over-year basis. As a group, equities analysts forecast that FIGS will post 0.03 EPS for the current fiscal year.

Insider Activity at FIGS

In other FIGS news, insider Heather L. Hasson sold 40,149 shares of FIGS stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $5.70, for a total transaction of $228,849.30. Following the transaction, the insider now directly owns 425,710 shares of the company’s stock, valued at $2,426,547. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last quarter, insiders sold 43,586 shares of company stock valued at $249,902. 22.30% of the stock is owned by company insiders.

Institutional Trading of FIGS

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Bamco Inc. NY grew its position in FIGS by 2.0% in the first quarter. Bamco Inc. NY now owns 25,731,980 shares of the company’s stock worth $128,145,000 after acquiring an additional 516,496 shares during the period. Vanguard Group Inc. grew its holdings in shares of FIGS by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 12,597,318 shares of the company’s stock worth $62,735,000 after purchasing an additional 206,673 shares during the period. Wellington Management Group LLP increased its position in shares of FIGS by 321.5% during the 4th 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 last quarter. Applied Fundamental Research LLC raised its holdings in FIGS by 25.8% in the 1st quarter. Applied Fundamental Research LLC now owns 2,495,381 shares of the company’s stock valued at $12,427,000 after buying an additional 511,794 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in FIGS by 16.2% in the second quarter. Bank of New York Mellon Corp now owns 2,307,304 shares of the company’s stock valued at $12,298,000 after buying an additional 322,358 shares during the last quarter. 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.