FIGS (NYSE:FIGS) PT Lowered to $4.25

FIGS (NYSE:FIGS) had its price target cut by equities researchers at The Goldman Sachs Group from $4.85 to $4.25 in a report released on Tuesday, Benzinga reports. The firm presently has a “sell” rating on the stock. The Goldman Sachs Group’s price objective points to a potential downside of 11.83% from the company’s current price.

Several other research firms have also weighed in on FIGS. Barclays lowered their target price on shares of FIGS from $7.00 to $5.00 and set an “equal weight” rating for the company in a research note on Friday, March 1st. Telsey Advisory Group lowered shares of FIGS from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $11.00 to $6.00 in a research note on Thursday, February 29th. Bank of America restated an “underperform” rating and issued a $4.50 target price (down from $8.50) on shares of FIGS in a research note on Tuesday, April 2nd. Finally, Oppenheimer cut FIGS from an “outperform” rating to a “market perform” rating in a research report on Friday, March 8th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $5.75.

FIGS Price Performance

Shares of FIGS stock opened at $4.82 on Tuesday. The firm has a market cap of $818.97 million, a P/E ratio of 43.82, a P/E/G ratio of 15.37 and a beta of 1.48. The firm has a fifty day moving average of $5.23 and a two-hundred day moving average of $6.04. FIGS has a 1-year low of $4.37 and a 1-year high of $8.84.

FIGS (NYSE:FIGS) last announced its quarterly earnings data on Wednesday, February 28th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.03. FIGS had a return on equity of 6.72% and a net margin of 4.15%. The firm had revenue of $144.90 million during the quarter, compared to analyst estimates of $149.09 million. During the same period in the previous year, the company earned $0.05 earnings per share. FIGS’s quarterly revenue was up .0% on a year-over-year basis. On average, sell-side analysts expect that FIGS will post 0.06 EPS for the current year.

Insider Transactions at FIGS

In related news, CFO Daniella Turenshine sold 15,762 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $5.54, for a total value of $87,321.48. Following the completion of the sale, the chief financial officer now owns 409,858 shares of the company’s stock, valued at $2,270,613.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Heather L. Hasson sold 27,547 shares of the company’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $5.93, for a total value of $163,353.71. Following the completion of the sale, the insider now owns 499,308 shares in the company, valued at $2,960,896.44. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Daniella Turenshine sold 15,762 shares of FIGS stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $5.54, for a total value of $87,321.48. Following the transaction, the chief financial officer now directly owns 409,858 shares in the company, valued at $2,270,613.32. The disclosure for this sale can be found here. Over the last quarter, insiders sold 49,334 shares of company stock valued at $285,986. 21.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On FIGS

Large investors have recently made changes to their positions in the business. Arkadios Wealth Advisors acquired a new position in FIGS in the third quarter worth approximately $91,000. SG Americas Securities LLC acquired a new position in shares of FIGS in the 3rd quarter worth $178,000. Bank of New York Mellon Corp raised its position in shares of FIGS by 3.5% during the third quarter. Bank of New York Mellon Corp now owns 923,080 shares of the company’s stock worth $5,446,000 after purchasing an additional 30,793 shares during the period. Malaga Cove Capital LLC lifted its holdings in shares of FIGS by 176.6% during the third quarter. Malaga Cove Capital LLC now owns 86,269 shares of the company’s stock valued at $509,000 after purchasing an additional 55,076 shares during the last quarter. Finally, Olympiad Research LP purchased a new stake in shares of FIGS during the third quarter valued at $151,000. 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.