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

Shares of FIGS, Inc. (NYSE:FIGS) have earned a consensus recommendation of “Reduce” from the seven brokerages that are presently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $5.87.

Several equities analysts have recently issued reports on the stock. Oppenheimer cut shares of FIGS from an “outperform” rating to a “market perform” rating in a research note on Friday, March 8th. Telsey Advisory Group cut shares of FIGS from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $11.00 to $6.00 in a research note on Thursday, February 29th. The Goldman Sachs Group lowered their price objective on shares of FIGS from $6.75 to $4.85 and set a “sell” rating on the stock in a research note on Thursday, February 29th. Barclays lowered their price objective on shares of FIGS from $7.00 to $5.00 and set an “equal weight” rating on the stock in a research note on Friday, March 1st. Finally, Bank of America reaffirmed an “underperform” rating and issued a $4.50 price objective (down previously from $8.50) on shares of FIGS in a research note on Tuesday, April 2nd.

Insider Transactions at FIGS

In other news, CFO Daniella Turenshine sold 4,201 shares of FIGS stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $6.00, for a total value of $25,206.00. Following the transaction, the chief financial officer now directly owns 425,620 shares of the company’s stock, valued at $2,553,720. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other FIGS news, insider Heather L. Hasson sold 27,547 shares of FIGS stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $5.93, for a total value of $163,353.71. Following the completion of the sale, the insider now directly owns 499,308 shares in the company, valued at $2,960,896.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Daniella Turenshine sold 4,201 shares of FIGS stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $6.00, for a total transaction of $25,206.00. Following the completion of the sale, the chief financial officer now owns 425,620 shares of the company’s stock, valued at $2,553,720. The disclosure for this sale can be found here. Insiders have sold a total of 49,334 shares of company stock valued at $285,986 over the last ninety days. Corporate insiders own 21.40% of the company’s stock.

Institutional Trading of FIGS

A number of institutional investors and hedge funds have recently modified their holdings of FIGS. Ameriprise Financial Inc. lifted its stake in shares of FIGS by 121.1% in the third quarter. Ameriprise Financial Inc. now owns 5,079,980 shares of the company’s stock worth $29,972,000 after buying an additional 2,782,340 shares during the last quarter. Wellington Management Group LLP lifted its stake 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 last quarter. Eagle Asset Management Inc. acquired a new stake in shares of FIGS in the fourth quarter worth $12,152,000. Bamco Inc. NY lifted its stake in shares of FIGS by 6.2% in the third quarter. Bamco Inc. NY now owns 25,032,830 shares of the company’s stock worth $147,694,000 after buying an additional 1,470,706 shares during the last quarter. Finally, State Street Corp lifted its stake in shares of FIGS by 78.2% in the second quarter. State Street Corp now owns 2,614,302 shares of the company’s stock worth $23,816,000 after buying an additional 1,146,907 shares during the last quarter. 92.21% of the stock is currently owned by institutional investors and hedge funds.

FIGS Trading Up 1.3 %

FIGS stock opened at $4.72 on Thursday. FIGS has a 52 week low of $4.37 and a 52 week high of $8.84. The company has a market capitalization of $801.98 million, a price-to-earnings ratio of 42.91, a price-to-earnings-growth ratio of 15.27 and a beta of 1.48. The firm’s 50-day moving average is $5.38 and its two-hundred day moving average is $6.09.

FIGS (NYSE:FIGS) last released its quarterly earnings results on Wednesday, February 28th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.03. FIGS had a net margin of 4.15% and a return on equity of 6.72%. The company had revenue of $144.90 million for the quarter, compared to the consensus estimate of $149.09 million. During the same period in the previous year, the firm earned $0.05 EPS. FIGS’s revenue was up .0% on a year-over-year basis. On average, equities research analysts predict that FIGS will post 0.06 earnings per share 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.