Telsey Advisory Group Reaffirms Market Perform Rating for FIGS (NYSE:FIGS)

FIGS (NYSE:FIGS)‘s stock had its “market perform” rating restated by equities researchers at Telsey Advisory Group in a research note issued to investors on Monday,Benzinga reports. They presently have a $7.00 target price on the stock. Telsey Advisory Group’s price target would indicate a potential downside of 5.98% from the stock’s previous close.

A number of other research analysts have also commented on the company. Morgan Stanley increased their price objective on FIGS from $4.25 to $5.00 and gave the company an “equal weight” rating in a report on Monday, July 21st. The Goldman Sachs Group raised their target price on FIGS from $3.75 to $4.50 and gave the company a “sell” rating in a report on Tuesday, July 22nd. BTIG Research initiated coverage on FIGS in a report on Tuesday, October 14th. They issued a “buy” rating and a $9.00 target price on the stock. Cowen reaffirmed a “hold” rating on shares of FIGS in a report on Friday, August 8th. Finally, Wall Street Zen raised FIGS from a “buy” rating to a “strong-buy” rating in a report on Sunday, October 12th. Two equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $6.10.

FIGS Trading Down 4.4%

Shares of FIGS stock opened at $7.45 on Monday. The stock has a 50-day moving average price of $7.22 and a 200 day moving average price of $6.05. The company has a market cap of $1.22 billion, a P/E ratio of 186.17, a P/E/G ratio of 4.78 and a beta of 1.34. FIGS has a 1 year low of $3.57 and a 1 year high of $8.49.

FIGS (NYSE:FIGS) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.02. The company had revenue of $152.64 million during the quarter, compared to the consensus estimate of $144.17 million. FIGS had a return on equity of 1.84% and a net margin of 1.26%.The business’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period last year, the business earned $0.01 EPS. On average, equities analysts forecast that FIGS will post 0.01 earnings per share for the current fiscal year.

Insider Activity at FIGS

In related news, CEO Catherine Eva Spear sold 65,866 shares of the firm’s stock in a transaction that occurred on Wednesday, August 13th. The stock was 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 owned 1,969,246 shares in the company, valued at $13,548,412.48. This trade represents a 3.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Sarah Oughtred sold 9,968 shares of the firm’s stock in a transaction that occurred on Friday, October 3rd. The stock was sold at an average price of $7.36, for a total value of $73,364.48. Following the transaction, the chief financial officer owned 868,090 shares of the company’s stock, valued at $6,389,142.40. This trade represents a 1.14% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 138,047 shares of company stock valued at $954,548 in the last 90 days. 29.44% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On FIGS

Hedge funds and other institutional investors have recently modified their holdings of the stock. Farther Finance Advisors LLC lifted 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 worth $29,000 after buying an additional 5,118 shares during the period. Capstone Financial Advisors Inc. bought a new position in FIGS in the 2nd quarter valued at $56,000. Hudson Bay Capital Management LP bought a new position in FIGS in the 2nd quarter valued at $61,000. Walleye Capital LLC bought a new position in FIGS in the 2nd quarter valued at $65,000. Finally, Teacher Retirement System of Texas bought a new position in FIGS in the 1st quarter valued at $66,000. 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.