FIGS (NYSE:FIGS) Sets New 1-Year High – Still a Buy?

Shares of FIGS, Inc. (NYSE:FIGS) hit a new 52-week high during mid-day trading on Tuesday. The company traded as high as $22.51 and last traded at $22.3470, with a volume of 705,320 shares changing hands. The stock had previously closed at $21.58.

Analyst Ratings Changes

A number of analysts have commented on FIGS shares. Cantor Fitzgerald began coverage on shares of FIGS in a report on Tuesday. They set an “overweight” rating and a $25.00 target price for the company. Telsey Advisory Group cut their price target on FIGS from $17.00 to $16.00 and set a “market perform” rating on the stock in a research note on Friday, August 7th. BTIG Research raised their price target on FIGS from $22.00 to $25.00 and gave the stock a “buy” rating in a research report on Friday, October 30th. Barclays lifted their price objective on FIGS from $20.00 to $24.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 3rd. Finally, Weiss Ratings downgraded FIGS from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday. Eight analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $21.62.

FIGS Stock Performance

The business’s 50-day moving average is $16.77 and its two-hundred day moving average is $13.80. The firm has a market capitalization of $3.88 billion, a price-to-earnings ratio of 61.54 and a beta of 1.05.

FIGS (NYSE:FIGS) last issued its quarterly earnings data on Thursday, November 5th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.03. FIGS had a net margin of 9.67% and a return on equity of 14.65%. The firm had revenue of $190.69 million during the quarter, compared to analysts’ expectations of $182.82 million. During the same quarter in the previous year, the company earned $0.05 earnings per share. The business’s revenue for the quarter was up 25.7% on a year-over-year basis. Analysts forecast that FIGS, Inc. will post 0.35 EPS for the current year.

Insider Activity at FIGS

In related news, CEO Catherine Spear sold 4,044,284 shares of the company’s stock in a transaction on Monday, November 9th. The shares were sold at an average price of $19.70, for a total value of $79,672,394.80. Following the completion of the sale, the chief executive officer owned 1,671,854 shares in the company, valued at $32,935,523.80. This represents a 70.75% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 27.06% of the stock is currently owned by corporate insiders.

Institutional Trading of FIGS

Several hedge funds have recently added to or reduced their stakes in FIGS. Diversified Trust Co acquired a new stake in shares of FIGS during the third quarter worth about $315,000. Jefferies Financial Group Inc. bought a new stake in FIGS during the 3rd quarter worth approximately $6,286,000. Alps Advisors Inc. bought a new stake in FIGS during the 3rd quarter worth approximately $575,000. State of Wyoming raised its holdings in FIGS by 6.9% during the 3rd quarter. State of Wyoming now owns 69,746 shares of the company’s stock worth $967,000 after buying an additional 4,487 shares during the period. Finally, Sterling Capital Management LLC raised its holdings in FIGS by 848.2% during the 3rd quarter. Sterling Capital Management LLC now owns 3,167 shares of the company’s stock worth $44,000 after buying an additional 2,833 shares during the period. Institutional investors and hedge funds own 92.21% of the company’s stock.

FIGS Company Profile

FIGS, Inc. designs and sells apparel and accessories for healthcare professionals. Its products include scrubs, underscrubs, lab coats, outerwear, footwear, compression socks and other work-related accessories, with an emphasis on functional design and performance fabrics. The company primarily sells through its e-commerce platform, serving healthcare workers in the United States and internationally. Its offerings are aimed at professionals across a range of medical roles and care settings. FIGS was founded in 2013 by Heather Hasson and Trina Spear.