FIGS (NYSE:FIGS) Upgraded to Strong-Buy at Wall Street Zen

Wall Street Zen upgraded shares of FIGS (NYSE:FIGS) from a buy rating to a strong-buy rating in a research report released on Saturday,Wall Street Zen reports.

Other equities research analysts have also recently issued research reports about the company. Weiss Ratings raised FIGS from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, August 21st. BTIG Research increased their price target on FIGS from $20.00 to $22.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Telsey Advisory Group cut their price objective on FIGS from $17.00 to $16.00 and set a “market perform” rating for the company in a research report on Friday, August 7th. KeyCorp boosted their price objective on shares of FIGS from $19.00 to $20.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $16.00 target price on shares of FIGS in a research note on Friday, August 7th. Six investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $18.71.

FIGS Price Performance

NYSE:FIGS opened at $15.74 on Friday. The company’s 50-day moving average is $13.87 and its two-hundred day moving average is $12.98. FIGS has a 1-year low of $6.77 and a 1-year high of $17.48. The firm has a market capitalization of $2.61 billion, a price-to-earnings ratio of 47.68 and a beta of 1.06.

FIGS (NYSE:FIGS) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.08. The business had revenue of $196.62 million during the quarter, compared to the consensus estimate of $186.17 million. FIGS had a net margin of 8.72% and a return on equity of 12.53%. The business’s revenue was up 28.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.04 EPS. As a group, equities analysts anticipate that FIGS will post 0.32 earnings per share for the current fiscal year.

Institutional Trading of FIGS

A number of large investors have recently modified their holdings of FIGS. Tidal Investments LLC boosted its holdings in FIGS by 69.6% in the second quarter. Tidal Investments LLC now owns 27,467 shares of the company’s stock valued at $281,000 after purchasing an additional 11,270 shares during the period. Integrated Wealth Concepts LLC acquired a new position in shares of FIGS during the second quarter worth about $41,000. IFP Advisors Inc raised its holdings in FIGS by 120.2% in the second quarter. IFP Advisors Inc now owns 4,389 shares of the company’s stock valued at $45,000 after acquiring an additional 2,396 shares in the last quarter. Navellier & Associates Inc. grew its holdings in FIGS by 118.8% during the 2nd quarter. Navellier & Associates Inc. now owns 44,128 shares of the company’s stock worth $451,000 after acquiring an additional 23,957 shares in the last quarter. Finally, Wellington Management Group LLP purchased a new stake in shares of FIGS in the 2nd quarter valued at approximately $12,304,000. Hedge funds and other institutional investors own 92.21% of the company’s stock.

About FIGS

FIGS, Inc (NYSE: FIGS) is a healthcare apparel and lifestyle company that designs and sells clothing, footwear, accessories and other products for healthcare professionals. Its product portfolio includes medical scrubs, lab coats, jackets, underscrubs, shoes, bags and related essentials designed for use in clinical and professional settings.

Founded in 2013 by Heather Hasson and Trina Spear, FIGS built its business around modern, performance-oriented alternatives to traditional medical uniforms.