FIGS (NYSE:FIGS) Downgraded to Buy Rating by Wall Street Zen

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

A number of other research firms also recently commented on FIGS. 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. Telsey Advisory Group reaffirmed 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. Wolfe Research upgraded FIGS to a “buy” rating in a research report on Wednesday. Zacks Research upgraded FIGS from a “hold” rating to a “strong-buy” rating in a report on Friday, November 7th. Finally, Morgan Stanley raised their target price on FIGS from $5.25 to $7.50 and gave the stock an “equal weight” rating in a research note on Wednesday, November 19th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $9.20.

FIGS Price Performance

Shares of FIGS stock opened at $11.91 on Friday. The stock has a market capitalization of $1.96 billion, a P/E ratio of 119.12 and a beta of 1.31. The business has a 50 day simple moving average of $8.93 and a two-hundred day simple moving average of $7.18. FIGS has a 12 month low of $3.57 and a 12 month high of $12.20.

FIGS (NYSE:FIGS) last issued its quarterly earnings results on Thursday, November 6th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.02 by $0.03. FIGS had a return on equity of 4.50% and a net margin of 3.03%.The firm had revenue of $151.66 million during the quarter, compared to analysts’ expectations of $142.39 million. During the same period in the previous year, the business earned ($0.01) earnings per share. The firm’s revenue for the quarter was up 8.2% on a year-over-year basis. As a group, research analysts anticipate that FIGS will post 0.01 EPS for the current fiscal year.

Insider Buying and Selling at FIGS

In related news, CFO Sarah Oughtred sold 22,745 shares of FIGS 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 $168,085.55. Following the completion of the transaction, the chief financial officer owned 845,345 shares in the company, valued at $6,247,099.55. The trade was a 2.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Catherine Eva Spear sold 62,213 shares of the business’s stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $6.88, for a total transaction of $428,025.44. Following the transaction, the chief executive officer owned 1,907,033 shares of the company’s stock, valued at approximately $13,120,387.04. The trade was a 3.16% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 118,282 shares of company stock valued at $842,076 in the last quarter. Corporate insiders own 29.44% of the company’s stock.

Institutional Trading of FIGS

A number of large investors have recently made changes to their positions in FIGS. GSA Capital Partners LLP increased its position in FIGS by 4.2% during the third quarter. GSA Capital Partners LLP now owns 52,045 shares of the company’s stock worth $348,000 after buying an additional 2,083 shares during the period. Corient Private Wealth LLC increased its holdings in shares of FIGS by 0.8% in the 2nd quarter. Corient Private Wealth LLC now owns 332,938 shares of the company’s stock valued at $1,878,000 after acquiring an additional 2,612 shares during the period. Creative Planning raised its position in FIGS by 4.9% in the 3rd quarter. Creative Planning now owns 68,932 shares of the company’s stock valued at $461,000 after purchasing an additional 3,192 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in FIGS by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 77,219 shares of the company’s stock valued at $354,000 after purchasing an additional 3,276 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its stake in FIGS by 12,795.0% during the 2nd 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. 92.21% of the stock is owned by institutional investors and hedge funds.

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.