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

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

A number of other research analysts also recently issued reports on the stock. KeyCorp boosted their target price on shares of FIGS from $19.00 to $20.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. Weiss Ratings upgraded shares of FIGS from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, August 21st. Barclays lifted their price target on shares of FIGS from $17.00 to $20.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Roth Capital reiterated a “buy” rating on shares of FIGS in a report on Friday, August 7th. Finally, BTIG Research increased their price objective on shares of FIGS from $20.00 to $22.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Six analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $18.71.

FIGS Price Performance

Shares of NYSE:FIGS opened at $13.09 on Friday. FIGS has a 1 year low of $6.50 and a 1 year high of $17.48. The business’s 50-day moving average is $12.78 and its 200-day moving average is $13.17. The company has a market capitalization of $2.18 billion, a price-to-earnings ratio of 39.68 and a beta of 1.07.

FIGS (NYSE:FIGS) last issued its earnings results on Thursday, August 6th. The company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.08. FIGS had a return on equity of 12.53% and a net margin of 8.72%.The business had revenue of $196.62 million during the quarter, compared to the consensus estimate of $186.17 million. During the same period in the previous year, the company posted $0.04 earnings per share. The firm’s revenue for the quarter was up 28.8% on a year-over-year basis. Analysts anticipate that FIGS will post 0.32 EPS for the current year.

Institutional Investors Weigh In On FIGS

Several hedge funds and other institutional investors have recently made changes to their positions in FIGS. Integrated Wealth Concepts LLC acquired a new position in FIGS during the 2nd quarter valued at about $41,000. IFP Advisors Inc raised its stake in shares of FIGS by 120.2% in the second quarter. IFP Advisors Inc now owns 4,389 shares of the company’s stock worth $45,000 after purchasing an additional 2,396 shares during the last quarter. OP Asset Management Ltd purchased a new stake in shares of FIGS in the first quarter worth approximately $115,000. R Squared Ltd lifted its holdings in shares of FIGS by 42.0% in the first quarter. R Squared Ltd now owns 15,009 shares of the company’s stock valued at $222,000 after purchasing an additional 4,436 shares in the last quarter. Finally, Mach 1 Financial Group LLC bought a new position in shares of FIGS in the fourth quarter valued at approximately $178,000. 92.21% of the stock is owned by institutional investors.

About FIGS

FIGS, Inc is a direct-to-consumer healthcare apparel and lifestyle company that designs and sells clothing, footwear and accessories for healthcare professionals. Its product portfolio includes medical scrubs, scrub jackets, lab coats, underscrubs, outerwear, shoes, bags and other work-related accessories.

The company markets its products through its digital platform, retail locations and selected wholesale channels. FIGS emphasizes technical fabrics, comfort, functionality and contemporary styling, seeking to provide alternatives to traditional medical uniforms for nurses, physicians and other healthcare workers.

FIGS was founded in 2013 by Heather Hasson and Trina Spear and is headquartered in Santa Monica, California.