FIGS (NYSE:FIGS) Stock Rating Lowered by Wall Street Zen

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

FIGS has been the topic of a number of other reports. The Goldman Sachs Group increased their price target on FIGS from $3.75 to $4.50 and gave the stock a “sell” rating in a research report on Tuesday, July 22nd. Cowen restated a “hold” rating on shares of FIGS in a report on Friday, August 8th. Telsey Advisory Group restated a “market perform” rating and issued a $7.00 target price (up from $5.00) on shares of FIGS in a research note on Monday, August 4th. Morgan Stanley upped their price target on shares of FIGS from $4.25 to $5.00 and gave the stock an “equal weight” rating in a research report on Monday, July 21st. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of FIGS in a research report on Saturday, September 27th. One analyst has rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, FIGS presently has a consensus rating of “Reduce” and a consensus target price of $5.38.

FIGS Stock Down 2.9%

Shares of FIGS stock opened at $7.12 on Friday. FIGS has a 12-month low of $3.57 and a 12-month high of $7.54. The stock has a market capitalization of $1.16 billion, a P/E ratio of 178.14, a price-to-earnings-growth ratio of 4.56 and a beta of 1.33. The company has a 50-day simple moving average of $6.84 and a 200 day simple moving average of $5.57.

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

Insider Transactions at FIGS

In related news, CFO Sarah Oughtred sold 99,834 shares of FIGS stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $6.19, for a total value of $617,972.46. Following the completion of the sale, the chief financial officer directly owned 878,058 shares in the company, valued at $5,435,179.02. This trade represents a 10.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Catherine Eva Spear sold 65,866 shares of the business’s stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $6.88, for a total value of $453,158.08. Following the sale, the chief executive officer directly owned 1,969,246 shares of the company’s stock, valued at $13,548,412.48. This represents a 3.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. 29.44% of the stock is owned by company insiders.

Hedge Funds Weigh In On FIGS

A number of hedge funds and other institutional investors have recently bought and sold shares of FIGS. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of FIGS by 18.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 256,344 shares of the company’s stock valued at $1,587,000 after acquiring an additional 39,462 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of FIGS by 585.8% during the first quarter. GAMMA Investing LLC now owns 6,536 shares of the company’s stock worth $30,000 after purchasing an additional 5,583 shares during the period. SG Americas Securities LLC increased its holdings in FIGS by 88.6% in the first quarter. SG Americas Securities LLC now owns 107,951 shares of the company’s stock valued at $495,000 after purchasing an additional 50,720 shares during the last quarter. Oppenheimer & Co. Inc. increased its holdings in FIGS by 106.5% in the first quarter. Oppenheimer & Co. Inc. now owns 348,628 shares of the company’s stock valued at $1,600,000 after purchasing an additional 179,763 shares during the last quarter. Finally, Teacher Retirement System of Texas acquired a new position in FIGS in the first quarter valued at about $66,000. 92.21% of the stock is owned by institutional investors.

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.