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

Shares of FIGS, Inc. (NYSE:FIGS) have been assigned a consensus recommendation of “Reduce” from the seven brokerages that are covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, four have given a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $5.87.

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

Insider Buying and Selling

In related news, insider Heather L. Hasson sold 27,547 shares of the firm’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $5.93, for a total value of $163,353.71. Following the transaction, the insider now owns 499,308 shares in the company, valued at $2,960,896.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other FIGS news, CFO Daniella Turenshine sold 15,762 shares of FIGS stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $5.54, for a total value of $87,321.48. Following the transaction, the chief financial officer now owns 409,858 shares in the company, valued at $2,270,613.32. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Heather L. Hasson sold 27,547 shares of FIGS 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 completion of the transaction, 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 quarter, insiders have sold 49,334 shares of company stock worth $285,986. Company insiders own 21.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Sanders Morris Harris LLC bought a new position in FIGS in the first quarter valued at about $674,000. Banque Cantonale Vaudoise grew its position in FIGS by 50.0% in the first quarter. Banque Cantonale Vaudoise now owns 6,000 shares of the company’s stock valued at $30,000 after acquiring an additional 2,000 shares during the last quarter. Vanguard Group Inc. grew its position in FIGS by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 12,390,645 shares of the company’s stock valued at $86,115,000 after acquiring an additional 112,575 shares during the last quarter. Wellington Management Group LLP boosted its stake 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 valued at $21,377,000 after purchasing an additional 2,345,994 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of FIGS by 6.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 59,103 shares of the company’s stock valued at $412,000 after purchasing an additional 3,560 shares in the last quarter. Institutional investors own 92.21% of the company’s stock.

FIGS Trading Up 1.3 %

NYSE FIGS opened at $4.72 on Thursday. The company has a market cap of $801.98 million, a PE ratio of 42.91, a PEG ratio of 15.27 and a beta of 1.48. FIGS has a 12 month low of $4.37 and a 12 month high of $8.84. The stock has a 50 day moving average of $5.38 and a 200-day moving average of $6.09.

FIGS (NYSE:FIGS) last announced its quarterly earnings results on Wednesday, February 28th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.03. FIGS had a return on equity of 6.72% and a net margin of 4.15%. The business had revenue of $144.90 million during the quarter, compared to the consensus estimate of $149.09 million. During the same quarter last year, the firm posted $0.05 EPS. The company’s quarterly revenue was up .0% on a year-over-year basis. As a group, sell-side analysts predict that FIGS will post 0.06 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.