FIGS, Inc. (NYSE:FIGS) Receives $5.87 Consensus Target Price from Brokerages

FIGS, Inc. (NYSE:FIGS) has earned an average rating of “Reduce” from the seven analysts that are currently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $5.87.

Several brokerages have recently issued reports on FIGS. Telsey Advisory Group lowered FIGS from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $11.00 to $6.00 in a research report on Thursday, February 29th. Oppenheimer lowered FIGS from an “outperform” rating to a “market perform” rating in a research report on Friday, March 8th. Barclays dropped their target price on FIGS from $7.00 to $5.00 and set an “equal weight” rating on the stock in a report on Friday, March 1st. Bank of America restated an “underperform” rating and issued a $4.50 price target (down previously from $8.50) on shares of FIGS in a research note on Tuesday, April 2nd. Finally, The Goldman Sachs Group reduced their price objective on FIGS from $6.75 to $4.85 and set a “sell” rating for the company in a research report on Thursday, February 29th.

FIGS Trading Down 3.7 %

NYSE:FIGS opened at $4.94 on Thursday. The stock has a market cap of $839.36 million, a P/E ratio of 44.91, a price-to-earnings-growth ratio of 16.56 and a beta of 1.48. The stock’s 50-day moving average is $5.45 and its 200-day moving average is $6.11. FIGS has a 1-year low of $4.37 and a 1-year high of $8.84.

FIGS (NYSE:FIGS) last posted its quarterly earnings results on Wednesday, February 28th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.03. FIGS had a return on equity of 6.72% and a net margin of 4.15%. The firm had revenue of $144.90 million for the quarter, compared to analysts’ expectations of $149.09 million. During the same period in the prior year, the business earned $0.05 EPS. The company’s revenue for the quarter was up .0% compared to the same quarter last year. As a group, equities analysts forecast that FIGS will post 0.06 EPS for the current year.

Insider Transactions at FIGS

In other FIGS news, CFO Daniella Turenshine sold 4,201 shares of the stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $6.00, for a total transaction of $25,206.00. Following the sale, the chief financial officer now owns 425,620 shares of the company’s stock, valued at approximately $2,553,720. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Daniella Turenshine sold 4,201 shares of the business’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $6.00, for a total transaction of $25,206.00. Following the transaction, the chief financial officer now directly owns 425,620 shares in the company, valued at approximately $2,553,720. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Heather L. Hasson sold 27,547 shares of the business’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $5.93, for a total value of $163,353.71. Following the sale, the insider now owns 499,308 shares in the company, valued at approximately $2,960,896.44. The disclosure for this sale can be found here. Over the last three months, insiders have sold 49,334 shares of company stock worth $285,986. 21.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On FIGS

A number of large investors have recently bought and sold shares of the business. Ameriprise Financial Inc. grew its position in FIGS by 121.1% in the third quarter. Ameriprise Financial Inc. now owns 5,079,980 shares of the company’s stock worth $29,972,000 after acquiring an additional 2,782,340 shares during the period. Wellington Management Group LLP grew its holdings in shares of FIGS by 321.5% during the fourth quarter. Wellington Management Group LLP now owns 3,075,794 shares of the company’s stock worth $21,377,000 after purchasing an additional 2,345,994 shares during the last quarter. Eagle Asset Management Inc. purchased a new position in shares of FIGS during the fourth quarter worth about $12,152,000. Bamco Inc. NY grew its holdings in shares of FIGS by 6.2% during the third quarter. Bamco Inc. NY now owns 25,032,830 shares of the company’s stock worth $147,694,000 after buying an additional 1,470,706 shares during the last quarter. Finally, State Street Corp grew its holdings in shares of FIGS by 78.2% during the second quarter. State Street Corp now owns 2,614,302 shares of the company’s stock worth $23,816,000 after buying an additional 1,146,907 shares during the last quarter. Institutional investors and hedge funds own 92.21% of the company’s stock.

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.