FIGS, Inc. (NYSE:FIGS) Receives Average Recommendation of “Reduce” from Analysts

Shares of FIGS, Inc. (NYSE:FIGS) have earned an average recommendation of “Reduce” from the six analysts that are presently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $5.35.

Several analysts have commented on the stock. Barclays lowered their target price on shares of FIGS from $5.00 to $4.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 12th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $7.00 price objective on shares of FIGS in a research note 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 report on Tuesday, December 10th.

Insider Activity

In other news, insider Heather L. Hasson sold 26,855 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $5.96, for a total transaction of $160,055.80. Following the transaction, the insider now owns 354,221 shares of the company’s stock, valued at $2,111,157.16. This represents a 7.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 22.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On FIGS

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC raised its position in shares of FIGS by 3.8% during 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 during the period. Barclays PLC raised its holdings in FIGS by 152.5% during the 3rd quarter. Barclays PLC now owns 286,974 shares of the company’s stock worth $1,963,000 after buying an additional 173,316 shares during the period. Applied Fundamental Research LLC lifted its stake in FIGS by 6.1% in the third quarter. Applied Fundamental Research LLC now owns 2,648,281 shares of the company’s stock valued at $18,114,000 after buying an additional 152,900 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of FIGS by 165.4% in the third quarter. JPMorgan Chase & Co. now owns 598,028 shares of the company’s stock valued at $4,091,000 after buying an additional 372,693 shares during the period. Finally, Landscape Capital Management L.L.C. increased its position in shares of FIGS by 53.6% during the third quarter. Landscape Capital Management L.L.C. now owns 829,173 shares of the company’s stock worth $5,672,000 after acquiring an additional 289,317 shares in the last quarter. Institutional investors own 92.21% of the company’s stock.

FIGS Price Performance

FIGS opened at $5.52 on Wednesday. The stock’s 50 day simple moving average is $5.76 and its 200 day simple moving average is $5.85. The stock has a market cap of $938.03 million, a P/E ratio of 92.07, a P/E/G ratio of 34.14 and a beta of 1.22. FIGS has a 1-year low of $4.30 and a 1-year high of $7.05.

FIGS (NYSE:FIGS) last posted its earnings results on Thursday, November 7th. The company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.01. FIGS had a net margin of 1.97% and a return on equity of 2.76%. The firm had revenue of $140.21 million during the quarter, compared to the consensus estimate of $144.11 million. During the same period last year, the firm posted $0.03 EPS. Research analysts expect that FIGS will post 0.01 EPS for the current fiscal year.

FIGS Company Profile

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.