FIGS (NYSE:FIGS) Cut to “Buy” at Wall Street Zen

FIGS (NYSE:FIGS) was downgraded by stock analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a report issued on Saturday.

FIGS has been the topic of a number of other research reports. Telsey Advisory Group reaffirmed a “market perform” rating and set a $7.00 price target (up previously from $5.00) on shares of FIGS in a research report on Monday, August 4th. The Goldman Sachs Group raised their target price on shares of FIGS from $3.75 to $4.50 and gave the stock a “sell” rating in a report on Tuesday, July 22nd. Morgan Stanley lifted their price target on shares of FIGS from $4.25 to $5.00 and gave the company 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 report on Saturday, September 27th. Finally, Cowen reaffirmed a “hold” rating on shares of FIGS in a research report on Friday, August 8th. One research analyst has rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus target price of $5.38.

FIGS Stock Down 2.9%

Shares of NYSE FIGS opened at $7.12 on Friday. FIGS has a twelve month low of $3.57 and a twelve month high of $7.54. The stock has a market cap of $1.16 billion, a price-to-earnings ratio of 178.14, a P/E/G ratio of 4.56 and a beta of 1.33. The company’s fifty day moving average is $6.84 and its 200-day moving average is $5.57.

FIGS (NYSE:FIGS) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.02. The business had revenue of $152.64 million during the quarter, compared to analysts’ expectations of $144.17 million. FIGS had a net margin of 1.26% and a return on equity of 1.84%. The firm’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.01 EPS. On average, research analysts anticipate that FIGS will post 0.01 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Catherine Eva Spear sold 65,866 shares of the stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $6.88, for a total transaction 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 represents a 3.24% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Sarah Oughtred sold 99,834 shares of the firm’s stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $6.19, for a total value of $617,972.46. Following the completion of the transaction, the chief financial officer owned 878,058 shares of the company’s stock, valued at $5,435,179.02. The trade was a 10.21% decrease in their position. The disclosure for this sale can be found here. 29.44% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of FIGS. Squarepoint Ops LLC grew its stake in FIGS by 940.7% in the second quarter. Squarepoint Ops LLC now owns 924,092 shares of the company’s stock valued at $5,212,000 after purchasing an additional 835,300 shares in the last quarter. Hudson Bay Capital Management LP bought a new position in shares of FIGS in the second quarter valued at $61,000. Nomura Holdings Inc. acquired a new position in FIGS during the second quarter worth $898,000. Tower Research Capital LLC TRC raised its position in FIGS by 631.7% during the second quarter. Tower Research Capital LLC TRC now owns 54,712 shares of the company’s stock worth $309,000 after acquiring an additional 47,235 shares in the last quarter. Finally, Corient Private Wealth LLC raised its position in 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 acquiring an additional 2,612 shares in the last quarter. 92.21% of the stock is owned by institutional investors and hedge funds.

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.