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

FIGS, Inc. (NYSE:FIGS) has received a consensus rating of “Reduce” from the six research firms that are covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating on the company. The average 12-month target price among brokers that have covered the stock in the last year is $5.40.

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

Insider Activity

In related news, insider Heather L. Hasson sold 40,149 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $5.70, for a total transaction of $228,849.30. Following the sale, the insider now owns 425,710 shares of the company’s stock, valued at $2,426,547. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Over the last ninety days, insiders sold 43,586 shares of company stock worth $249,902. Corporate insiders own 22.30% of the company’s stock.

Institutional Investors Weigh In On FIGS

Institutional investors and hedge funds have recently bought and sold shares of the company. Squarepoint Ops LLC raised its position in shares of FIGS by 318.1% in the 2nd quarter. Squarepoint Ops LLC now owns 1,516,131 shares of the company’s stock valued at $8,081,000 after buying an additional 1,153,481 shares in the last quarter. Rice Hall James & Associates LLC bought a new stake in FIGS during the second quarter worth $3,856,000. Bamco Inc. NY lifted its stake in FIGS by 2.0% during the first quarter. Bamco Inc. NY now owns 25,731,980 shares of the company’s stock worth $128,145,000 after purchasing an additional 516,496 shares during the last quarter. Applied Fundamental Research LLC boosted its holdings in shares of 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 purchasing an additional 511,794 shares in the last quarter. Finally, Millennium Management LLC raised its holdings in shares of FIGS by 296.4% during the 2nd quarter. Millennium Management LLC now owns 623,536 shares of the company’s stock worth $3,323,000 after buying an additional 466,252 shares in the last quarter. Institutional investors own 92.21% of the company’s stock.

FIGS Price Performance

NYSE:FIGS opened at $6.25 on Monday. FIGS has a 12-month low of $4.30 and a 12-month high of $7.98. The firm has a market capitalization of $1.07 billion, a price-to-earnings ratio of 62.50, a P/E/G ratio of 83.33 and a beta of 1.44. The stock’s 50 day moving average price is $6.15 and its two-hundred day moving average price is $5.69.

FIGS (NYSE:FIGS) last announced 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 business had revenue of $144.23 million during the quarter, compared to the consensus estimate of $142.25 million. During the same quarter last year, the firm posted $0.02 EPS. The company’s quarterly revenue was up 4.4% on a year-over-year basis. Equities research analysts expect that FIGS will post 0.03 EPS for the current 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.