FIGS, Inc. (NYSE:FIGS) Receives Consensus Recommendation of “Reduce” from Brokerages

FIGS, Inc. (NYSE:FIGS) has been given an average rating of “Reduce” by the six ratings firms that are presently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $5.35.

A number of analysts have recently weighed in on the stock. Barclays dropped their target price on shares of FIGS from $5.00 to $4.00 and set an “equal weight” rating for the company in a report on Tuesday, November 12th. Telsey Advisory Group reiterated a “market perform” rating and issued a $7.00 price objective on shares of FIGS in a report on Wednesday, November 13th. Finally, The Goldman Sachs Group reduced their target price on FIGS from $5.00 to $4.50 and set a “sell” rating on the stock in a research note on Tuesday, December 10th.

Hedge Funds Weigh In On FIGS

Institutional investors have recently bought and sold shares of the business. Franklin Resources Inc. lifted its stake in shares of FIGS by 3.4% during the 3rd quarter. Franklin Resources Inc. now owns 1,120,304 shares of the company’s stock worth $7,461,000 after purchasing an additional 36,697 shares during the last quarter. Geode Capital Management LLC raised its holdings in FIGS by 3.8% in the third quarter. Geode Capital Management LLC now owns 2,977,364 shares of the company’s stock worth $20,369,000 after purchasing an additional 109,979 shares in the last quarter. Barclays PLC lifted its position in shares of FIGS by 152.5% during the third quarter. Barclays PLC now owns 286,974 shares of the company’s stock valued at $1,963,000 after buying an additional 173,316 shares during the last quarter. State Street Corp boosted its holdings in shares of FIGS by 1.4% in the 3rd quarter. State Street Corp now owns 2,743,494 shares of the company’s stock valued at $18,765,000 after buying an additional 38,787 shares in the last quarter. Finally, Bamco Inc. NY boosted its holdings in shares of FIGS by 12.5% in the 3rd quarter. Bamco Inc. NY now owns 30,030,078 shares of the company’s stock valued at $205,406,000 after buying an additional 3,342,755 shares in the last quarter. 92.21% of the stock is owned by hedge funds and other institutional investors.

FIGS Stock Performance

Shares of FIGS opened at $6.01 on Tuesday. FIGS has a fifty-two week low of $4.30 and a fifty-two week high of $7.98. The firm has a market cap of $1.02 billion, a price-to-earnings ratio of 100.17, a PEG ratio of 299.52 and a beta of 1.33. The firm has a 50 day moving average price of $5.72 and a 200-day moving average price of $5.71.

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.