FIGS (NYSE:FIGS) Reaches New 1-Year High – Here’s Why

Shares of FIGS, Inc. (NYSE:FIGS) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $11.56 and last traded at $11.2950, with a volume of 84841 shares. The stock had previously closed at $11.43.

Analysts Set New Price Targets

A number of research firms have recently commented on FIGS. Wall Street Zen upgraded FIGS from a “buy” rating to a “strong-buy” rating in a research report on Sunday, October 12th. Weiss Ratings reissued a “hold (c)” rating on shares of FIGS in a research note on Monday. Telsey Advisory Group reissued a “market perform” rating and issued a $9.00 price target (up previously from $7.00) on shares of FIGS in a report on Monday, November 3rd. Barclays increased their price objective on shares of FIGS from $7.00 to $9.00 and gave the company an “equal weight” rating in a report on Monday, November 10th. Finally, The Goldman Sachs Group boosted their target price on shares of FIGS from $5.00 to $5.50 and gave the stock a “sell” rating in a research note on Friday, November 7th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $8.60.

FIGS Stock Performance

The company has a 50 day moving average of $8.65 and a 200 day moving average of $7.04. The stock has a market capitalization of $1.91 billion, a price-to-earnings ratio of 115.85 and a beta of 1.31.

FIGS (NYSE:FIGS) last released its earnings results on Thursday, November 6th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.03. The business had revenue of $151.66 million during the quarter, compared to analyst estimates of $142.39 million. FIGS had a net margin of 3.03% and a return on equity of 4.50%. The company’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.01) earnings per share. On average, equities analysts predict that FIGS, Inc. will post 0.01 EPS for the current fiscal year.

Insider Activity at FIGS

In other news, CFO Sarah Oughtred sold 22,745 shares of the business’s stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $7.39, for a total transaction of $168,085.55. Following the transaction, the chief financial officer directly owned 845,345 shares in the company, valued at $6,247,099.55. The trade was a 2.62% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Heather L. Hasson sold 23,356 shares of the company’s stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $7.39, for a total value of $172,600.84. Following the completion of the sale, the insider owned 1,274,841 shares of the company’s stock, valued at $9,421,074.99. This trade represents a 1.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 118,282 shares of company stock valued at $842,076. Corporate insiders own 29.44% of the company’s stock.

Hedge Funds Weigh In On FIGS

A number of institutional investors have recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC boosted 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 buying an additional 5,118 shares during the last quarter. Assetmark Inc. acquired a new stake in shares of FIGS in the 3rd quarter worth $35,000. Quarry LP raised its holdings in shares of FIGS by 1,876.3% during the 3rd quarter. Quarry LP now owns 7,846 shares of the company’s stock worth $52,000 after acquiring an additional 7,449 shares during the period. Capstone Financial Advisors Inc. acquired a new position in shares of FIGS during the 2nd quarter valued at about $56,000. Finally, Boothbay Fund Management LLC acquired a new position in shares of FIGS during the 3rd quarter valued at about $72,000. Hedge funds and other institutional investors own 92.21% of the company’s stock.

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.