FIGS, Inc. (NYSE:FIGS) Given Average Recommendation of “Hold” by Brokerages

Shares of FIGS, Inc. (NYSE:FIGS) have earned a consensus rating of “Hold” from the nine brokerages that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation, two have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $9.20.

A number of brokerages have weighed in on FIGS. Wolfe Research raised FIGS to a “buy” rating in a research report on Wednesday, December 10th. BTIG Research increased their price target on FIGS from $12.00 to $15.00 and gave the company a “buy” rating in a research note on Wednesday, December 10th. Barclays lifted their price objective on shares of FIGS from $7.00 to $9.00 and gave the stock an “equal weight” rating in a research report on Monday, November 10th. Weiss Ratings reissued a “hold (c)” rating on shares of FIGS in a research report on Monday. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and set a $9.00 target price (up previously from $7.00) on shares of FIGS in a report on Monday, November 3rd.

FIGS Trading Up 2.9%

NYSE FIGS opened at $11.75 on Friday. The firm has a market capitalization of $1.93 billion, a P/E ratio of 117.47 and a beta of 1.31. The firm’s fifty day moving average price is $9.31 and its two-hundred day moving average price is $7.36. FIGS has a 1 year low of $3.57 and a 1 year high of $12.20.

FIGS (NYSE:FIGS) last announced its quarterly earnings data on Thursday, November 6th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.03. The company had revenue of $151.66 million during the quarter, compared to the consensus estimate of $142.39 million. FIGS had a net margin of 3.03% and a return on equity of 4.50%. The company’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter last year, the firm posted ($0.01) EPS. On average, research analysts anticipate that FIGS will post 0.01 EPS for the current fiscal year.

Insider Transactions at FIGS

In related news, CEO Catherine Eva Spear sold 62,213 shares of FIGS stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $6.88, for a total transaction of $428,025.44. Following the completion of the sale, the chief executive officer directly owned 1,907,033 shares of the company’s stock, valued at approximately $13,120,387.04. This trade represents a 3.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Heather L. Hasson sold 23,356 shares of the company’s stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $7.39, for a total value of $172,600.84. Following the completion of the transaction, the insider directly owned 1,274,841 shares in the company, valued at approximately $9,421,074.99. This represents a 1.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 118,282 shares of company stock worth $842,076 over the last quarter. Company insiders own 29.44% of the company’s stock.

Hedge Funds Weigh In On FIGS

Institutional investors and hedge funds have recently modified their holdings of the business. Farther Finance Advisors LLC raised its stake in FIGS by 12,795.0% in the 2nd quarter. Farther Finance Advisors LLC now owns 5,158 shares of the company’s stock worth $29,000 after purchasing an additional 5,118 shares in the last quarter. Assetmark Inc. bought a new position in shares of FIGS during the third quarter worth approximately $35,000. Quarry LP increased its holdings in shares of FIGS by 1,876.3% during the third quarter. Quarry LP now owns 7,846 shares of the company’s stock worth $52,000 after purchasing an additional 7,449 shares during the period. Capstone Financial Advisors Inc. acquired a new stake in shares of FIGS in the second quarter valued at approximately $56,000. Finally, Hudson Bay Capital Management LP bought a new stake in shares of FIGS in the second quarter valued at approximately $61,000. 92.21% of the stock is currently owned by institutional investors and hedge funds.

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.