FIGS, Inc. (NYSE:FIGS) Receives Consensus Recommendation of “Reduce” from Brokerages

FIGS, Inc. (NYSE:FIGS) has received an average recommendation of “Reduce” from the six analysts that are presently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and one has given a buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $5.30.

A number of analysts have commented on the company. Bank of America restated an “underperform” rating and issued a $4.50 price target (down previously from $8.50) on shares of FIGS in a research report on Tuesday, April 2nd. Roth Mkm reduced their price target on FIGS from $7.50 to $6.75 and set a “buy” rating for the company in a research report on Friday, May 10th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $6.00 price objective on shares of FIGS in a research note on Thursday, June 13th. Finally, The Goldman Sachs Group dropped their price objective on FIGS from $4.85 to $4.25 and set a “sell” rating for the company in a research note on Tuesday, April 23rd.

FIGS Price Performance

Shares of NYSE:FIGS opened at $6.67 on Friday. The company has a market cap of $1.14 billion, a P/E ratio of 60.64, a PEG ratio of 86.80 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’s fifty day moving average price is $5.44 and its 200-day moving average price is $5.46.

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

Insider Activity at FIGS

In other news, insider Heather L. Hasson sold 28,614 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $4.89, for a total value of $139,922.46. Following the completion of the sale, the insider now directly owns 468,870 shares of the company’s stock, valued at approximately $2,292,774.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last three months, insiders sold 32,649 shares of company stock valued at $161,206. Insiders own 22.30% of the company’s stock.

Institutional Investors Weigh In On FIGS

Several hedge funds and other institutional investors have recently modified their holdings of FIGS. Wellington Management Group LLP raised its holdings in shares of FIGS by 321.5% in the fourth quarter. Wellington Management Group LLP now owns 3,075,794 shares of the company’s stock worth $21,377,000 after buying an additional 2,345,994 shares during the period. Eagle Asset Management Inc. purchased a new stake in shares of FIGS in the fourth quarter worth approximately $12,152,000. Vanguard Group Inc. raised its holdings in shares of FIGS by 4.6% in the third quarter. Vanguard Group Inc. now owns 12,278,070 shares of the company’s stock worth $72,441,000 after buying an additional 538,251 shares during the period. Bamco Inc. NY increased its holdings in FIGS by 2.0% during the 1st 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 period. Finally, Applied Fundamental Research LLC increased its holdings in FIGS by 25.8% during the 1st quarter. Applied Fundamental Research LLC now owns 2,495,381 shares of the company’s stock worth $13,786,000 after purchasing an additional 511,794 shares during the period. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

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.