FIGS (NYSE:FIGS) Hits New 12-Month High - Still a Buy?

Key Points

• FIGS shares hit a new 52-week high, reaching $17.98 and trading near $17.75, up from the prior close of $15.78.
• Analyst sentiment is generally positive, with six Buy ratings and five Holds; MarketBeat reports a “Moderate Buy” consensus and an average price target of $18.71, though targets range from $16 to $20.
• FIGS exceeded quarterly expectations, reporting $0.15 EPS versus $0.07 expected and revenue of $196.62 million versus $186.17 million forecast. Revenue grew 28.8% year over year, while institutional investors own 92.21% of the company.

FIGS, Inc. (NYSE:FIGS - Get Free Report)'s share price reached a new 52-week high during trading on Tuesday. The stock traded as high as $17.98 and last traded at $17.7540, with a volume of 11,302,531 shares changing hands. The stock had previously closed at $15.78.

Wall Street Analysts Forecast Growth

A number of research firms have commented on FIGS. Weiss Ratings upgraded shares of FIGS from a "hold (c)" rating to a "hold (c+)" rating in a research report on Friday, August 21st. The Goldman Sachs Group reiterated a "neutral" rating and issued a $16.00 price objective on shares of FIGS in a report on Friday, August 7th. KeyCorp raised their price objective on shares of FIGS from $19.00 to $20.00 and gave the company an "overweight" rating in a research note on Friday, August 7th. Telsey Advisory Group lowered their price objective on shares of FIGS from $17.00 to $16.00 and set a "market perform" rating on the stock in a research note on Friday, August 7th. Finally, Wall Street Zen raised FIGS from a "buy" rating to a "strong-buy" rating in a report on Saturday. Six investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $18.71.

FIGS Price Performance

The company has a market cap of $2.95 billion, a P/E ratio of 53.80 and a beta of 1.06. The company has a fifty day simple moving average of $14.00 and a 200-day simple moving average of $12.98.

FIGS (NYSE:FIGS - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.15 earnings per share for the quarter, topping analysts' consensus estimates of $0.07 by $0.08. The firm had revenue of $196.62 million for the quarter, compared to analysts' expectations of $186.17 million. FIGS had a return on equity of 12.53% and a net margin of 8.72%. FIGS's revenue was up 28.8% on a year-over-year basis. During the same quarter last year, the business posted $0.04 EPS. On average, analysts anticipate that FIGS, Inc. will post 0.32 EPS for the current year.

Institutional Trading of FIGS

A number of institutional investors have recently bought and sold shares of the company. Integrated Wealth Concepts LLC bought a new stake in shares of FIGS during the 2nd quarter worth about $41,000. IFP Advisors Inc increased its holdings in shares of FIGS by 120.2% during the 2nd quarter. IFP Advisors Inc now owns 4,389 shares of the company's stock valued at $45,000 after acquiring an additional 2,396 shares during the last quarter. OP Asset Management Ltd bought a new position in shares of FIGS in the 1st quarter valued at approximately $115,000. R Squared Ltd raised its stake in shares of FIGS by 42.0% in the 1st quarter. R Squared Ltd now owns 15,009 shares of the company's stock valued at $222,000 after acquiring an additional 4,436 shares in the last quarter. Finally, Archer Investment Corp bought a new position in shares of FIGS in the 1st quarter valued at approximately $239,000. Institutional investors and hedge funds own 92.21% of the company's stock.

FIGS Company Profile

FIGS, Inc NYSE: FIGS is a healthcare apparel and lifestyle company that designs and sells clothing, footwear, accessories and other products for healthcare professionals. Its product portfolio includes medical scrubs, lab coats, jackets, underscrubs, shoes, bags and related essentials designed for use in clinical and professional settings.

Founded in 2013 by Heather Hasson and Trina Spear, FIGS built its business around modern, performance-oriented alternatives to traditional medical uniforms.

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