FIGS, Inc. (NYSE:FIGS) Receives Consensus Rating of "Moderate Buy" from Brokerages

Key Points

• FIGS has a consensus analyst rating of “Moderate Buy” from 11 research firms, with six holds, four buys, and one strong buy. The average 12-month price target is about $15.93.
• The company’s latest earnings beat expectations, reporting $0.03 EPS versus the $0.01 estimate and $159.9 million in revenue, up 28% year over year. Analysts now expect FIGS to earn $0.26 EPS for the current fiscal year.
• Insiders recently sold shares: CFO Sarah Oughtred and Chairman Heather L. Hasson both reduced their stakes in pre-arranged 10b5-1 transactions. Meanwhile, institutional ownership remains high at 92.21%.

FIGS, Inc. (NYSE:FIGS - Get Free Report) has earned an average rating of "Moderate Buy" from the eleven research firms that are currently covering the firm, MarketBeat Ratings reports. Six analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $15.9286.

FIGS has been the topic of a number of recent research reports. Zacks Research lowered FIGS from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 8th. BTIG Research reiterated a "buy" rating and set a $20.00 target price on shares of FIGS in a research report on Friday, April 24th. Morgan Stanley increased their target price on FIGS from $8.00 to $15.00 and gave the stock an "equal weight" rating in a report on Monday, April 13th. Weiss Ratings cut FIGS from a "hold (c+)" rating to a "hold (c)" rating in a research report on Wednesday, May 13th. Finally, KeyCorp reaffirmed an "overweight" rating on shares of FIGS in a research note on Tuesday, June 23rd.

Insider Buying and Selling at FIGS

In related news, CFO Sarah Oughtred sold 23,597 shares of the firm's stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $14.33, for a total value of $338,145.01. Following the sale, the chief financial officer directly owned 1,129,791 shares of the company's stock, valued at $16,189,905.03. This trade represents a 2.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 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 dated Monday, May 4th. The stock was sold at an average price of $14.33, for a total value 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. The trade was a 2.21% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 27.06% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On FIGS

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Elevated Capital Advisors LLC bought a new position in FIGS in the 4th quarter valued at approximately $45,000. Quarry LP grew its stake in shares of FIGS by 1,876.3% during the third quarter. Quarry LP now owns 7,846 shares of the company's stock worth $52,000 after buying an additional 7,449 shares during the last quarter. Hudson Bay Capital Management LP acquired a new position in shares of FIGS during the second quarter worth $61,000. Walleye Capital LLC acquired a new position in shares of FIGS during the second quarter worth $65,000. Finally, Kemnay Advisory Services Inc. bought a new position in shares of FIGS in the 4th quarter valued at $69,000. 92.21% of the stock is owned by institutional investors.

FIGS Price Performance

Shares of FIGS opened at $9.51 on Friday. FIGS has a fifty-two week low of $6.07 and a fifty-two week high of $17.48. The company's 50-day moving average is $11.16 and its 200-day moving average is $12.57. The firm has a market capitalization of $1.59 billion, a PE ratio of 43.22 and a beta of 1.01.

FIGS (NYSE:FIGS - Get Free Report) last announced its earnings results on Thursday, May 7th. The company reported $0.03 earnings per share for the quarter, topping analysts' consensus estimates of $0.01 by $0.02. The company had revenue of $159.90 million for the quarter, compared to analyst estimates of $153.15 million. FIGS had a return on equity of 9.69% and a net margin of 6.10%.The company's revenue for the quarter was up 28.0% on a year-over-year basis. Analysts predict that FIGS will post 0.26 earnings per share for the current fiscal year.

FIGS Company Profile

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.

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