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

Shares of FIGS, Inc. (NYSE:FIGS) have been given an average recommendation of “Reduce” by the six research firms that are currently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, three have given a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $5.40.

Several analysts have commented on the stock. The Goldman Sachs Group raised their target price on shares of FIGS from $4.25 to $4.75 and gave the stock a “sell” rating in a report on Friday, August 9th. Telsey Advisory Group restated a “market perform” rating and set a $6.00 target price on shares of FIGS in a report on Monday, August 5th. Finally, Roth Mkm dropped their target price on shares of FIGS from $7.50 to $6.75 and set a “buy” rating on the stock in a report on Friday, May 10th.

FIGS Price Performance

FIGS stock opened at $5.61 on Wednesday. The stock has a market capitalization of $954.98 million, a PE ratio of 51.00, a price-to-earnings-growth ratio of 86.00 and a beta of 1.42. The company has a 50 day moving average price of $5.56 and a 200 day moving average price of $5.42. FIGS has a fifty-two week low of $4.30 and a fifty-two week high of $7.98.

FIGS (NYSE:FIGS) last issued its earnings results on Thursday, August 8th. The company reported $0.01 earnings per share (EPS) for the quarter. The company had revenue of $144.23 million for the quarter, compared to analyst estimates of $142.25 million. FIGS had a net margin of 4.07% and a return on equity of 6.12%. The company’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.02 EPS. As a group, equities analysts expect that FIGS will post 0.03 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Heather L. Hasson sold 40,149 shares of the firm’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $5.70, for a total value of $228,849.30. Following the completion of the transaction, the insider now directly owns 425,710 shares of the company’s stock, valued at $2,426,547. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold 44,638 shares of company stock worth $252,720 over the last ninety days. Insiders own 22.30% of the company’s stock.

Hedge Funds Weigh In On FIGS

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Algert Global LLC raised its stake in FIGS by 175.4% in the second quarter. Algert Global LLC now owns 638,306 shares of the company’s stock valued at $3,402,000 after purchasing an additional 406,556 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in FIGS by 6.0% during the second quarter. The Manufacturers Life Insurance Company now owns 50,564 shares of the company’s stock worth $270,000 after acquiring an additional 2,879 shares in the last quarter. Millennium Management LLC raised its stake in FIGS by 296.4% during the second quarter. Millennium Management LLC now owns 623,536 shares of the company’s stock worth $3,323,000 after acquiring an additional 466,252 shares in the last quarter. AQR Capital Management LLC raised its stake in FIGS by 114.3% during the second quarter. AQR Capital Management LLC now owns 50,805 shares of the company’s stock worth $271,000 after acquiring an additional 27,098 shares in the last quarter. Finally, Squarepoint Ops LLC raised its stake in FIGS by 318.1% during the second quarter. Squarepoint Ops LLC now owns 1,516,131 shares of the company’s stock worth $8,081,000 after acquiring an additional 1,153,481 shares in the last quarter. 92.21% of the stock is owned by institutional investors.

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.