FIGS, Inc. (NYSE:FIGS) Given Average Rating of “Reduce” by Brokerages

FIGS, Inc. (NYSE:FIGS) has been assigned an average rating of “Reduce” from the six ratings firms that are currently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, three have given a hold recommendation and one has issued a buy recommendation on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $5.35.

FIGS has been the topic of a number of analyst reports. Telsey Advisory Group reaffirmed a “market perform” rating and set a $7.00 target price on shares of FIGS in a research note on Wednesday, November 13th. Barclays cut their price objective on FIGS from $5.00 to $4.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 12th. Finally, The Goldman Sachs Group decreased their target price on FIGS from $5.00 to $4.50 and set a “sell” rating for the company in a research report on Tuesday, December 10th.

FIGS Stock Down 2.2 %

FIGS stock opened at $5.33 on Wednesday. FIGS has a twelve month low of $4.30 and a twelve month high of $7.05. The stock has a market capitalization of $905.09 million, a price-to-earnings ratio of 88.83, a price-to-earnings-growth ratio of 32.70 and a beta of 1.22. The firm’s fifty day simple moving average is $5.78 and its two-hundred day simple moving average is $5.83.

FIGS (NYSE:FIGS) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.02) by $0.01. The company had revenue of $140.21 million for the quarter, compared to the consensus estimate of $144.11 million. FIGS had a net margin of 1.97% and a return on equity of 2.76%. During the same period in the prior year, the firm posted $0.03 EPS. As a group, equities research analysts expect that FIGS will post 0.01 EPS for the current year.

Insiders Place Their Bets

In other FIGS news, insider Heather L. Hasson sold 26,855 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $5.96, for a total transaction of $160,055.80. Following the sale, the insider now owns 354,221 shares of the company’s stock, valued at approximately $2,111,157.16. This trade represents a 7.05 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 22.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On FIGS

A number of institutional investors have recently added to or reduced their stakes in the stock. Sugar Maple Asset Management LLC purchased a new stake in shares of FIGS during the fourth quarter valued at about $43,000. Blue Trust Inc. lifted its position in FIGS by 380.0% during the fourth quarter. Blue Trust Inc. now owns 7,407 shares of the company’s stock valued at $51,000 after acquiring an additional 5,864 shares during the last quarter. Creative Planning lifted its position in FIGS by 17.7% during the third quarter. Creative Planning now owns 12,697 shares of the company’s stock valued at $87,000 after acquiring an additional 1,911 shares during the last quarter. International Assets Investment Management LLC boosted its stake in FIGS by 787.0% in the third quarter. International Assets Investment Management LLC now owns 13,926 shares of the company’s stock valued at $950,000 after acquiring an additional 12,356 shares in the last quarter. Finally, Lane & Associates LLC purchased a new position in FIGS in the fourth quarter worth $86,000. Institutional investors own 92.21% of the company’s stock.

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.