FIGS (NYSE:FIGS) Rating Lowered to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of FIGS (NYSE:FIGS) from a buy rating to a hold rating in a research report sent to investors on Tuesday, Zacks.com reports.

According to Zacks, “FIGS Inc. is a direct-to-consumer healthcare apparel and lifestyle brand. It creates technically advanced apparel and products for healthcare professionals. FIGS Inc. is based in Santa Monica, California. “

Separately, Credit Suisse Group reduced their price target on shares of FIGS from $42.00 to $34.00 and set an outperform rating on the stock in a research report on Tuesday. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of Buy and an average target price of $40.62.

NYSE FIGS opened at $23.28 on Tuesday. The firm’s 50-day moving average is $29.15 and its two-hundred day moving average is $36.05. FIGS has a 12 month low of $22.04 and a 12 month high of $50.40.

FIGS (NYSE:FIGS) last posted its earnings results on Wednesday, November 10th. The company reported $0.03 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.03. The company had revenue of $102.70 million for the quarter, compared to analysts’ expectations of $96.75 million. FIGS had a negative net margin of 2.63% and a negative return on equity of 6.32%. As a group, analysts predict that FIGS will post -0.1 EPS for the current fiscal year.

In related news, CEO Catherine Eva Spear sold 89,060 shares of the firm’s stock in a transaction that occurred on Monday, November 15th. The shares were sold at an average price of $34.29, for a total value of $3,053,867.40. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In the last ninety days, insiders sold 177,489 shares of company stock worth $5,767,547.

Institutional investors have recently made changes to their positions in the business. US Bancorp DE increased its stake in FIGS by 77.1% in the third quarter. US Bancorp DE now owns 687 shares of the company’s stock valued at $26,000 after purchasing an additional 299 shares during the last quarter. Clearstead Advisors LLC purchased a new position in FIGS in the third quarter valued at approximately $26,000. Parallel Advisors LLC purchased a new position in FIGS in the third quarter valued at approximately $33,000. Gradient Investments LLC purchased a new position in FIGS in the third quarter valued at approximately $37,000. Finally, Signaturefd LLC purchased a new position in FIGS in the third quarter valued at approximately $37,000. Institutional investors own 48.03% 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. It designs and sells healthcare apparel and other non-scrub offerings, such as lab coats, under scrubs, outerwear, activewear, loungewear, compression socks footwear, masks, and face shields. The company markets and sells its products through its digital platform comprising website and mobile app.

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Analyst Recommendations for FIGS (NYSE:FIGS)

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