FIGS, Inc. (NYSE:FIGS) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of FIGS, Inc. (NYSE:FIGS) have been assigned an average recommendation of “Moderate Buy” from the eleven research firms that are currently covering the company, MarketBeat reports. Six investment analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $15.9286.

Several brokerages have weighed in on FIGS. KeyCorp restated an “overweight” rating on shares of FIGS in a report on Tuesday, June 23rd. BTIG Research reiterated a “buy” rating and issued a $20.00 price objective on shares of FIGS in a research note on Friday, April 24th. Morgan Stanley boosted their price objective on FIGS from $8.00 to $15.00 and gave the stock an “equal weight” rating in a research report on Monday, April 13th. Weiss Ratings lowered shares of FIGS from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, May 13th. Finally, Zacks Research cut shares of FIGS from a “strong-buy” rating to a “hold” rating in a report on Friday, May 8th.

FIGS Stock Up 2.0%

NYSE:FIGS opened at $10.70 on Friday. FIGS has a 52 week low of $6.07 and a 52 week high of $17.48. The company has a market capitalization of $1.79 billion, a P/E ratio of 48.62 and a beta of 1.01. The stock’s fifty day moving average is $11.00 and its two-hundred day moving average is $12.52.

FIGS (NYSE:FIGS) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.03 EPS for the quarter, topping the consensus estimate of $0.01 by $0.02. FIGS had a net margin of 6.10% and a return on equity of 9.69%. The firm had revenue of $159.90 million for the quarter, compared to analyst estimates of $153.15 million. FIGS’s quarterly revenue was up 28.0% on a year-over-year basis. Sell-side analysts anticipate that FIGS will post 0.26 earnings per share for the current fiscal year.

Insider Activity at FIGS

In other news, Chairman Heather L. Hasson sold 32,385 shares of the firm’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $14.33, for a total value of $464,077.05. Following the sale, the chairman directly owned 1,433,807 shares in the company, valued at approximately $20,546,454.31. This trade represents a 2.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Sarah Oughtred sold 23,597 shares of FIGS stock in a transaction on Monday, May 4th. The stock was sold at an average price of $14.33, for a total transaction of $338,145.01. Following the sale, the chief financial officer directly owned 1,129,791 shares of the company’s stock, valued at approximately $16,189,905.03. This trade represents a 2.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 27.06% of the company’s stock.

Hedge Funds Weigh In On FIGS

Several large investors have recently bought and sold shares of the business. UBS Group AG lifted its holdings in FIGS by 45.2% during the 4th quarter. UBS Group AG now owns 277,151 shares of the company’s stock worth $3,148,000 after buying an additional 86,268 shares during the last quarter. Jennison Associates LLC acquired a new position in shares of FIGS during the 4th quarter worth about $5,717,000. LGT Fund Management Co Ltd. purchased a new position in shares of FIGS in the 1st quarter valued at about $3,961,000. Cookson Peirce & Co. Inc. purchased a new position in shares of FIGS in the 4th quarter valued at about $1,234,000. Finally, Castleark Management LLC purchased a new position in shares of FIGS in the 1st quarter valued at about $2,939,000. Hedge funds and other institutional investors own 92.21% of the company’s stock.

About FIGS

FIGS, Inc operates as a direct-to-consumer designer and retailer of medical apparel and accessories. The company offers a range of products tailored to the needs of healthcare professionals, including scrub sets, lab coats, tops, bottoms, outerwear, footwear, and performance fabrics designed for comfort, durability, and antimicrobial protection. Through its e-commerce platform and a growing network of retail stores, FIGS provides customizable uniforms and accessories with a focus on innovative materials and functional design features such as four-way stretch fabrics, moisture-wicking technology, and multiple secure pockets.

Founded in 2013 by Heather Hasson and Trina Spear, FIGS set out to disrupt the traditional medical uniform market by emphasizing both form and function.