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

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

Other equities research analysts have also issued research reports about the company. Wolfe Research raised FIGS to a “buy” rating in a report on Wednesday, December 10th. Barclays raised their price target on FIGS from $9.00 to $11.00 and gave the company an “equal weight” rating in a report on Tuesday, January 6th. Telsey Advisory Group restated a “market perform” rating and issued a $9.00 price target (up from $7.00) on shares of FIGS in a research note on Monday, November 3rd. BTIG Research increased their price objective on FIGS from $12.00 to $15.00 and gave the stock a “buy” rating in a research report on Wednesday, December 10th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of FIGS in a report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $9.70.

FIGS Stock Performance

Shares of FIGS stock opened at $11.58 on Friday. The company has a market cap of $1.91 billion, a P/E ratio of 115.81 and a beta of 1.30. FIGS has a one year low of $3.57 and a one year high of $12.50. The firm has a fifty day moving average of $11.01 and a two-hundred day moving average of $8.35.

FIGS (NYSE:FIGS) last issued its earnings results on Thursday, November 6th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.03. FIGS had a net margin of 3.03% and a return on equity of 4.50%. The business had revenue of $151.66 million for the quarter, compared to the consensus estimate of $142.39 million. During the same quarter in the previous year, the firm earned ($0.01) earnings per share. The business’s quarterly revenue was up 8.2% compared to the same quarter last year. As a group, equities analysts predict that FIGS will post 0.01 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Sarah Oughtred sold 22,745 shares of FIGS stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $7.39, for a total transaction of $168,085.55. Following the completion of the transaction, the chief financial officer directly owned 845,345 shares of the company’s stock, valued at approximately $6,247,099.55. The trade was a 2.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Catherine Eva Spear sold 49,734 shares of the company’s stock in a transaction on Tuesday, January 6th. The shares were sold at an average price of $11.38, for a total value of $565,972.92. Following the completion of the sale, the chief executive officer directly owned 1,857,299 shares in the company, valued at $21,136,062.62. This trade represents a 2.61% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 106,350 shares of company stock valued at $1,027,582. 29.44% of the stock is owned by insiders.

Hedge Funds Weigh In On FIGS

Several hedge funds have recently added to or reduced their stakes in FIGS. Farther Finance Advisors LLC grew its holdings in FIGS by 12,795.0% during the 2nd quarter. Farther Finance Advisors LLC now owns 5,158 shares of the company’s stock valued at $29,000 after buying an additional 5,118 shares during the last quarter. XTX Topco Ltd purchased a new stake in shares of FIGS in the second quarter valued at $671,000. Catalyst Funds Management Pty Ltd purchased a new stake in shares of FIGS in the second quarter valued at $72,000. Bamco Inc. NY boosted its stake in shares of FIGS by 2.2% during the second quarter. Bamco Inc. NY now owns 59,974,407 shares of the company’s stock valued at $338,256,000 after acquiring an additional 1,302,823 shares during the last quarter. Finally, ProShare Advisors LLC increased its position in FIGS by 28.6% during the 2nd quarter. ProShare Advisors LLC now owns 772,968 shares of the company’s stock worth $4,360,000 after purchasing an additional 172,027 shares in the last quarter. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

FIGS Company Profile

FIGS, Inc operates as a direct-to-consumer designer and retailer of medical apparel and accessories. The company offers a range of products tailored to the needs of healthcare professionals, including scrub sets, lab coats, tops, bottoms, outerwear, footwear, and performance fabrics designed for comfort, durability, and antimicrobial protection. Through its e-commerce platform and a growing network of retail stores, FIGS provides customizable uniforms and accessories with a focus on innovative materials and functional design features such as four-way stretch fabrics, moisture-wicking technology, and multiple secure pockets.

Founded in 2013 by Heather Hasson and Trina Spear, FIGS set out to disrupt the traditional medical uniform market by emphasizing both form and function.