FIGS (NYSE:FIGS) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of FIGS (NYSE:FIGS) from a buy rating to a strong-buy rating in a research note issued to investors on Sunday morning.

A number of other analysts have also recently commented on FIGS. The Goldman Sachs Group lifted their target price on shares of FIGS from $3.75 to $4.50 and gave the stock a “sell” rating in a research note on Tuesday, July 22nd. Morgan Stanley lifted their price objective on shares of FIGS from $4.25 to $5.00 and gave the company an “equal weight” rating in a research note on Monday, July 21st. Telsey Advisory Group restated a “market perform” rating and set a $7.00 price objective (up from $5.00) on shares of FIGS in a research note on Monday, August 4th. Weiss Ratings reiterated a “sell (d+)” rating on shares of FIGS in a research note on Wednesday, October 8th. Finally, Cowen reiterated a “hold” rating on shares of FIGS in a research note on Friday, August 8th. Two equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $6.10.

FIGS Stock Performance

NYSE:FIGS opened at $7.23 on Friday. The company’s 50-day simple moving average is $6.92 and its 200-day simple moving average is $5.68. FIGS has a fifty-two week low of $3.57 and a fifty-two week high of $7.54. The stock has a market capitalization of $1.18 billion, a P/E ratio of 180.67, a P/E/G ratio of 4.55 and a beta of 1.33.

FIGS (NYSE:FIGS) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.02. FIGS had a net margin of 1.26% and a return on equity of 1.84%. The firm had revenue of $152.64 million for the quarter, compared to the consensus estimate of $144.17 million. During the same quarter in the previous year, the firm earned $0.01 EPS. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. On average, research analysts forecast that FIGS will post 0.01 EPS for the current year.

Insider Transactions at FIGS

In other news, CEO Catherine Eva Spear sold 62,213 shares of the stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $6.88, for a total value of $428,025.44. Following the completion of the sale, the chief executive officer directly owned 1,907,033 shares in the company, valued at $13,120,387.04. This represents a 3.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Sarah Oughtred sold 9,968 shares of the firm’s stock in a transaction dated Friday, October 3rd. The stock was sold at an average price of $7.36, for a total transaction of $73,364.48. Following the sale, the chief financial officer owned 868,090 shares of the company’s stock, valued at approximately $6,389,142.40. The trade was a 1.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 237,881 shares of company stock valued at $1,572,520 over the last quarter. Company insiders own 29.44% of the company’s stock.

Institutional Investors Weigh In On FIGS

Hedge funds and other institutional investors have recently bought and sold shares of the company. Security Benefit Life Insurance Co. KS purchased a new position in FIGS during the first quarter worth about $6,962,000. Bamco Inc. NY boosted its stake in FIGS by 2.2% during the second quarter. Bamco Inc. NY now owns 59,974,407 shares of the company’s stock worth $338,256,000 after buying an additional 1,302,823 shares during the period. BNP Paribas Financial Markets boosted its stake in FIGS by 2,139.7% during the second quarter. BNP Paribas Financial Markets now owns 1,307,468 shares of the company’s stock worth $7,374,000 after buying an additional 1,249,091 shares during the period. Ameriprise Financial Inc. boosted its stake in FIGS by 9.0% during the second quarter. Ameriprise Financial Inc. now owns 13,936,468 shares of the company’s stock worth $78,602,000 after buying an additional 1,144,962 shares during the period. Finally, Pacer Advisors Inc. purchased a new position in FIGS during the first quarter worth about $4,640,000. 92.21% of the stock is currently 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.