FIGS, Inc. (NYSE:FIGS) Given Average Rating of “Reduce” by Analysts

Shares of FIGS, Inc. (NYSE:FIGS) have received an average recommendation of “Reduce” from the six analysts that are currently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $5.30.

A number of equities analysts have recently weighed in on FIGS shares. Bank of America reissued an “underperform” rating and issued a $4.50 price objective (down previously from $8.50) on shares of FIGS in a research report on Tuesday, April 2nd. Telsey Advisory Group reissued a “market perform” rating and issued a $6.00 price objective on shares of FIGS in a research report on Thursday, June 13th. The Goldman Sachs Group cut their price objective on shares of FIGS from $4.85 to $4.25 and set a “sell” rating for the company in a research report on Tuesday, April 23rd. Finally, Roth Mkm cut their price objective on shares of FIGS from $7.50 to $6.75 and set a “buy” rating for the company in a research report on Friday, May 10th.

FIGS Trading Down 1.6 %

FIGS stock opened at $6.67 on Friday. FIGS has a 52 week low of $4.30 and a 52 week high of $7.98. The company has a market cap of $1.14 billion, a P/E ratio of 60.64, a P/E/G ratio of 86.80 and a beta of 1.42. The company’s 50-day moving average price is $5.44 and its 200 day moving average price is $5.46.

FIGS (NYSE:FIGS) last announced its quarterly earnings results on Thursday, May 9th. The company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.02. FIGS had a net margin of 4.07% and a return on equity of 6.12%. The company had revenue of $119.29 million for the quarter, compared to the consensus estimate of $117.38 million. During the same quarter in the prior year, the firm earned $0.01 earnings per share. The company’s revenue for the quarter was down .8% compared to the same quarter last year. On average, equities research analysts expect that FIGS will post 0.03 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Heather L. Hasson sold 28,614 shares of the company’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $4.89, for a total value of $139,922.46. Following the completion of the transaction, the insider now directly owns 468,870 shares in the company, valued at $2,292,774.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 32,649 shares of company stock worth $161,206 over the last ninety days. 22.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Banque Cantonale Vaudoise boosted its stake in FIGS by 50.0% during the 1st quarter. Banque Cantonale Vaudoise now owns 6,000 shares of the company’s stock valued at $30,000 after acquiring an additional 2,000 shares during the last quarter. Dakota Wealth Management bought a new position in FIGS during the 2nd quarter valued at $57,000. Octavia Wealth Advisors LLC bought a new position in FIGS during the 4th quarter valued at $75,000. International Assets Investment Management LLC acquired a new stake in shares of FIGS during the fourth quarter worth $76,000. Finally, Janney Montgomery Scott LLC raised its holdings in shares of FIGS by 23.6% during the first quarter. Janney Montgomery Scott LLC now owns 16,977 shares of the company’s stock worth $85,000 after purchasing an additional 3,247 shares during the period. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

FIGS Company Profile

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.