FIGS, Inc. (NYSE:FIGS) Given Consensus Recommendation of “Reduce” by Brokerages

Shares of FIGS, Inc. (NYSE:FIGS) have earned a consensus recommendation of “Reduce” from the six brokerages that are presently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $5.3750.

Several research analysts have weighed in on the company. Weiss Ratings reiterated a “sell (d+)” rating on shares of FIGS in a research note on Saturday, September 27th. Wall Street Zen lowered FIGS from a “strong-buy” rating to a “buy” rating in a report on Saturday. Morgan Stanley boosted their target price on FIGS from $4.25 to $5.00 and gave the company an “equal weight” rating in a report on Monday, July 21st. Cowen reissued a “hold” rating on shares of FIGS in a report on Friday, August 8th. Finally, Telsey Advisory Group reissued a “market perform” rating and issued a $7.00 target price (up previously from $5.00) on shares of FIGS in a report on Monday, August 4th.

Insider Buying and Selling

In other news, CEO Catherine Eva Spear sold 65,866 shares of the business’s stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $6.88, for a total value of $453,158.08. Following the transaction, the chief executive officer owned 1,969,246 shares of the company’s stock, valued at approximately $13,548,412.48. The trade was a 3.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Sarah Oughtred sold 99,834 shares of the business’s stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $6.19, for a total value of $617,972.46. Following the completion of the transaction, the chief financial officer directly owned 878,058 shares in the company, valued at approximately $5,435,179.02. The trade was a 10.21% decrease in their position. The disclosure for this sale can be found here. Insiders own 29.44% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of FIGS. Two Sigma Investments LP grew its holdings in FIGS by 151.9% during the fourth quarter. Two Sigma Investments LP now owns 433,432 shares of the company’s stock worth $2,683,000 after acquiring an additional 261,367 shares during the period. Two Sigma Advisers LP acquired a new position in FIGS during the fourth quarter worth $888,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in FIGS by 18.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 256,344 shares of the company’s stock worth $1,587,000 after acquiring an additional 39,462 shares during the period. GAMMA Investing LLC grew its holdings in FIGS by 585.8% during the first quarter. GAMMA Investing LLC now owns 6,536 shares of the company’s stock worth $30,000 after acquiring an additional 5,583 shares during the period. Finally, Sugar Maple Asset Management LLC grew its holdings in FIGS by 211.4% during the first quarter. Sugar Maple Asset Management LLC now owns 21,800 shares of the company’s stock worth $100,000 after acquiring an additional 14,800 shares during the period. Institutional investors and hedge funds own 92.21% of the company’s stock.

FIGS Stock Down 2.9%

FIGS opened at $7.12 on Friday. The firm has a market cap of $1.16 billion, a price-to-earnings ratio of 178.14, a price-to-earnings-growth ratio of 4.56 and a beta of 1.33. FIGS has a 52 week low of $3.57 and a 52 week high of $7.54. The business’s 50 day moving average is $6.84 and its two-hundred day moving average is $5.56.

FIGS (NYSE:FIGS) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.04 EPS for the quarter, topping the consensus estimate of $0.02 by $0.02. The company had revenue of $152.64 million for the quarter, compared to analyst estimates of $144.17 million. FIGS had a return on equity of 1.84% and a net margin of 1.26%.The firm’s revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.01 earnings per share. Equities analysts expect that FIGS will post 0.01 EPS for the current fiscal 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.