FIGS, Inc. (NYSE:FIGS) Given Consensus Recommendation of “Moderate Buy” by Brokerages

FIGS, Inc. (NYSE:FIGS) has earned a consensus recommendation of “Moderate Buy” from the eleven brokerages that are currently covering the stock, MarketBeat.com reports. Six analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $15.9286.

FIGS has been the subject of several analyst reports. Oppenheimer raised shares of FIGS from a “market perform” rating to an “outperform” rating and set a $22.00 price objective for the company in a research note on Friday, March 20th. BTIG Research reaffirmed a “buy” rating and issued a $20.00 price objective on shares of FIGS in a research note on Friday, April 24th. Wall Street Zen raised shares of FIGS from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 28th. Morgan Stanley lifted their price objective on shares of FIGS from $8.00 to $15.00 and gave the company an “equal weight” rating in a research note on Monday, April 13th. Finally, Telsey Advisory Group lifted their price objective on shares of FIGS to $17.00 and gave the company a “market perform” rating in a research note on Thursday, March 12th.

FIGS Stock Down 1.6%

Shares of NYSE:FIGS opened at $11.77 on Monday. FIGS has a 12-month low of $4.25 and a 12-month high of $17.48. The firm has a fifty day moving average of $14.70 and a two-hundred day moving average of $12.23. The firm has a market capitalization of $1.97 billion, a P/E ratio of 53.52 and a beta of 1.12.

FIGS (NYSE:FIGS) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.02. FIGS had a net margin of 6.10% and a return on equity of 9.69%. The business had revenue of $159.90 million during the quarter, compared to analyst estimates of $153.15 million. The business’s revenue was up 28.0% on a year-over-year basis. Equities research analysts expect that FIGS will post 0.25 earnings per share for the current fiscal year.

Insider Activity at FIGS

In other FIGS news, CFO Sarah Oughtred sold 23,597 shares of the business’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $14.33, for a total transaction of $338,145.01. Following the completion of the transaction, the chief financial officer owned 1,129,791 shares of the company’s stock, valued at $16,189,905.03. The trade was a 2.05% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Heather L. Hasson sold 32,385 shares of the business’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $14.33, for a total transaction of $464,077.05. Following the transaction, the chairman directly owned 1,433,807 shares of the company’s stock, valued at approximately $20,546,454.31. This represents a 2.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 685,516 shares of company stock valued at $11,233,441. Insiders own 29.44% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of FIGS. Arrowstreet Capital Limited Partnership lifted its position in FIGS by 167.2% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 4,070,258 shares of the company’s stock worth $60,118,000 after acquiring an additional 2,546,905 shares during the last quarter. Marshall Wace LLP lifted its position in FIGS by 66.2% during the 4th quarter. Marshall Wace LLP now owns 4,297,868 shares of the company’s stock worth $48,824,000 after acquiring an additional 1,712,610 shares during the last quarter. BNP Paribas Financial Markets lifted its position in FIGS by 2,139.7% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,307,468 shares of the company’s stock worth $7,374,000 after acquiring an additional 1,249,091 shares during the last quarter. Ameriprise Financial Inc. lifted its position in FIGS by 9.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 13,936,468 shares of the company’s stock worth $78,602,000 after acquiring an additional 1,144,962 shares during the last quarter. Finally, Jennison Associates LLC lifted its position in FIGS by 178.4% during the 1st quarter. Jennison Associates LLC now owns 1,401,214 shares of the company’s stock worth $20,696,000 after acquiring an additional 897,935 shares during the last quarter. Institutional investors and hedge funds own 92.21% of the company’s stock.

About FIGS

FIGS, Inc operates as a direct-to-consumer designer and retailer of medical apparel and accessories. The company offers a range of products tailored to the needs of healthcare professionals, including scrub sets, lab coats, tops, bottoms, outerwear, footwear, and performance fabrics designed for comfort, durability, and antimicrobial protection. Through its e-commerce platform and a growing network of retail stores, FIGS provides customizable uniforms and accessories with a focus on innovative materials and functional design features such as four-way stretch fabrics, moisture-wicking technology, and multiple secure pockets.

Founded in 2013 by Heather Hasson and Trina Spear, FIGS set out to disrupt the traditional medical uniform market by emphasizing both form and function.