FIGS (NYSE:FIGS) Reaches New 52-Week High - Should You Buy?

Key Points

• FIGS, Inc. (NYSE:FIGS) reached a new 52-week high of $7.74, with a last trading price of $7.68 and a trading volume of over 200,000 shares.
• Several analysts have given mixed ratings on FIGS, with a buy rating and a price target increase to $9.00 from BTIG Research countering a "sell" rating from Weiss Ratings.
• FIGS reported quarterly earnings of $0.04 per share, exceeding estimates, with a revenue increase of 5.8% year-over-year, totaling $152.64 million.

FIGS, Inc. (NYSE:FIGS - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $7.74 and last traded at $7.68, with a volume of 200534 shares traded. The stock had previously closed at $7.22.

Analyst Ratings Changes

A number of research analysts have recently weighed in on FIGS shares. Morgan Stanley raised their price objective on shares of FIGS from $4.25 to $5.00 and gave the stock an "equal weight" rating in a research note on Monday, July 21st. Weiss Ratings reissued a "sell (d+)" rating on shares of FIGS in a research note on Wednesday, October 8th. BTIG Research started coverage on shares of FIGS in a research note on Tuesday. They set a "buy" rating and a $9.00 price objective for the company. Cowen reissued a "hold" rating on shares of FIGS in a research note on Friday, August 8th. Finally, Wall Street Zen raised shares of FIGS from a "buy" rating to a "strong-buy" rating in a research note on Sunday. Two equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, FIGS has an average rating of "Hold" and an average target price of $6.10.

FIGS Stock Performance

The company has a market cap of $1.23 billion, a price-to-earnings ratio of 188.17, a price-to-earnings-growth ratio of 4.55 and a beta of 1.33. The stock's fifty day simple moving average is $6.92 and its two-hundred day simple moving average is $5.68.

FIGS (NYSE:FIGS - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.04 earnings per share for the quarter, beating analysts' consensus estimates of $0.02 by $0.02. The company had revenue of $152.64 million for the quarter, compared to analyst estimates of $144.17 million. FIGS had a net margin of 1.26% and a return on equity of 1.84%. FIGS's revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter last year, the business earned $0.01 EPS. Analysts predict that FIGS, Inc. will post 0.01 EPS for the current fiscal year.

Insiders Place Their Bets

In other FIGS news, CFO Sarah Oughtred sold 99,834 shares of FIGS stock in a transaction on Monday, August 4th. The shares were sold at an average price of $6.19, for a total value of $617,972.46. Following the transaction, the chief financial officer owned 878,058 shares in the company, valued at $5,435,179.02. This trade represents a 10.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Catherine Eva Spear sold 65,866 shares of the firm's stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $6.88, for a total value of $453,158.08. Following the completion of the transaction, the chief executive officer directly owned 1,969,246 shares in the company, valued at $13,548,412.48. This trade represents a 3.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 237,881 shares of company stock worth $1,572,520. 29.44% of the stock is owned by company insiders.

Hedge Funds Weigh In On FIGS

Institutional investors have recently made changes to their positions in the business. Corient Private Wealth LLC lifted its position in shares of FIGS by 0.8% during the second quarter. Corient Private Wealth LLC now owns 332,938 shares of the company's stock worth $1,878,000 after purchasing an additional 2,612 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of FIGS by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 77,219 shares of the company's stock valued at $354,000 after buying an additional 3,276 shares during the last quarter. Farther Finance Advisors LLC grew its position in shares of FIGS by 12,795.0% during the 2nd quarter. Farther Finance Advisors LLC now owns 5,158 shares of the company's stock valued at $29,000 after buying an additional 5,118 shares during the last quarter. GAMMA Investing LLC grew its position in shares of FIGS by 585.8% during the 1st quarter. GAMMA Investing LLC now owns 6,536 shares of the company's stock valued at $30,000 after buying an additional 5,583 shares during the last quarter. Finally, Franklin Resources Inc. grew its position in shares of FIGS by 6.9% during the 2nd quarter. Franklin Resources Inc. now owns 94,643 shares of the company's stock valued at $534,000 after buying an additional 6,133 shares during the last quarter. 92.21% of the stock is 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.

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