FIGS, Inc. (NYSE:FIGS) Receives $5.30 Consensus Target Price from Brokerages

Shares of FIGS, Inc. (NYSE:FIGS) have earned a consensus recommendation of “Reduce” from the six brokerages that are currently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, three have given a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price target among brokers that have covered the stock in the last year is $5.30.

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

FIGS Trading Down 3.1 %

NYSE:FIGS opened at $6.51 on Friday. The stock’s 50-day moving average is $5.40 and its 200-day moving average is $5.45. FIGS has a 1-year low of $4.30 and a 1-year high of $7.98. The stock has a market cap of $1.11 billion, a P/E ratio of 59.14, a price-to-earnings-growth ratio of 82.93 and a beta of 1.42.

FIGS (NYSE:FIGS) last released 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 firm had revenue of $119.29 million during the quarter, compared to the consensus estimate of $117.38 million. During the same quarter last year, the firm earned $0.01 earnings per share. The company’s revenue for the quarter was down .8% on a year-over-year basis. As a group, equities analysts forecast that FIGS will post 0.03 EPS for the current year.

Insider Activity at FIGS

In related news, insider Heather L. Hasson sold 28,614 shares of the stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $4.89, for a total transaction of $139,922.46. Following the transaction, the insider now directly owns 468,870 shares of the company’s stock, valued at $2,292,774.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders have sold 32,649 shares of company stock worth $161,206 in the last quarter. Company insiders own 22.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Banque Cantonale Vaudoise increased its holdings in shares of FIGS by 50.0% during the first 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 in the last quarter. Dakota Wealth Management acquired a new stake in FIGS in the 2nd quarter valued at $57,000. Octavia Wealth Advisors LLC acquired a new position in FIGS during the fourth quarter worth $75,000. International Assets Investment Management LLC bought a new position in shares of FIGS in the fourth quarter valued at $76,000. Finally, Counterpoint Mutual Funds LLC acquired a new position in shares of FIGS during the fourth quarter valued at about $90,000. Institutional investors own 92.21% of the company’s stock.

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.