FIGS (NYSE:FIGS) Rating Increased to Strong-Buy at Wall Street Zen

Wall Street Zen upgraded shares of FIGS (NYSE:FIGS) from a buy rating to a strong-buy rating in a research note released on Sunday.

FIGS has been the subject of a number of other reports. Cowen reaffirmed a “hold” rating on shares of FIGS in a report on Friday, August 8th. The Goldman Sachs Group increased their target price on shares of FIGS from $3.75 to $4.50 and gave the company a “sell” rating in a report on Tuesday, July 22nd. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of FIGS in a report on Wednesday, October 8th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $7.00 target price (up from $5.00) on shares of FIGS in a report on Monday, August 4th. Finally, Morgan Stanley increased their price target on shares of FIGS from $4.25 to $5.00 and gave the company an “equal weight” rating in a research report on Monday, July 21st. One investment analyst has rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, FIGS has an average rating of “Reduce” and a consensus target price of $5.38.

FIGS Stock Down 0.6%

NYSE FIGS opened at $6.90 on Friday. The stock has a market capitalization of $1.13 billion, a P/E ratio of 172.54, a P/E/G ratio of 4.42 and a beta of 1.33. FIGS has a 52-week low of $3.57 and a 52-week high of $7.54. The firm has a 50-day moving average price of $6.88 and a 200 day moving average price of $5.65.

FIGS (NYSE:FIGS) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.02. FIGS had a net margin of 1.26% and a return on equity of 1.84%. The firm had revenue of $152.64 million during the quarter, compared to analysts’ expectations of $144.17 million. During the same period in the prior year, the company posted $0.01 earnings per share. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. On average, equities research analysts expect that FIGS will post 0.01 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Catherine Eva Spear sold 62,213 shares of the firm’s stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $6.88, for a total transaction of $428,025.44. Following the sale, the chief executive officer owned 1,907,033 shares in the company, valued at approximately $13,120,387.04. This trade represents a 3.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Sarah Oughtred sold 9,968 shares of the firm’s stock in a transaction that occurred on Friday, October 3rd. The stock was sold at an average price of $7.36, for a total transaction of $73,364.48. Following the sale, the chief financial officer owned 868,090 shares in the company, valued at approximately $6,389,142.40. This trade represents a 1.14% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 237,881 shares of company stock worth $1,572,520. 29.44% of the stock is owned by company insiders.

Hedge Funds Weigh In On FIGS

Large investors have recently bought and sold shares of the stock. Farther Finance Advisors LLC raised its stake in FIGS by 12,795.0% during the second quarter. Farther Finance Advisors LLC now owns 5,158 shares of the company’s stock worth $29,000 after purchasing an additional 5,118 shares during the period. GAMMA Investing LLC raised its stake in FIGS by 585.8% during the first quarter. GAMMA Investing LLC now owns 6,536 shares of the company’s stock worth $30,000 after purchasing an additional 5,583 shares during the period. Capstone Financial Advisors Inc. purchased a new position in FIGS during the second quarter worth approximately $56,000. Hudson Bay Capital Management LP purchased a new position in FIGS during the second quarter worth approximately $61,000. Finally, Walleye Capital LLC purchased a new position in FIGS during the second quarter worth approximately $65,000. Hedge funds and other institutional investors 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.