Wall Street Zen Downgrades FIGS (NYSE:FIGS) to Buy

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

A number of other research firms have also recently commented on FIGS. Barclays increased their target price on FIGS from $17.00 to $20.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Weiss Ratings upgraded FIGS from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, August 21st. Telsey Advisory Group lowered their target price on FIGS from $17.00 to $16.00 and set a “market perform” rating for the company in a research note on Friday, August 7th. BTIG Research increased their target price on FIGS from $20.00 to $22.00 and gave the company a “buy” rating in a report on Friday, August 7th. Finally, Roth Capital restated a “buy” rating on shares of FIGS in a research report on Friday, August 7th. Six analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $18.71.

FIGS Stock Up 0.3%

FIGS stock opened at $13.09 on Friday. The stock has a 50-day simple moving average of $12.78 and a two-hundred day simple moving average of $13.15. The firm has a market capitalization of $2.18 billion, a PE ratio of 39.68 and a beta of 1.07. FIGS has a twelve month low of $6.50 and a twelve month high of $17.48.

FIGS (NYSE:FIGS) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.08. The firm had revenue of $196.62 million during the quarter, compared to analyst estimates of $186.17 million. FIGS had a net margin of 8.72% and a return on equity of 12.53%. The business’s revenue for the quarter was up 28.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.04 EPS. On average, equities research analysts anticipate that FIGS will post 0.32 EPS for the current fiscal year.

Institutional Investors Weigh In On FIGS

Large investors have recently bought and sold shares of the business. Integrated Wealth Concepts LLC bought a new position in shares of FIGS during the 2nd quarter valued at $41,000. IFP Advisors Inc grew its holdings in shares of FIGS by 120.2% in the second quarter. IFP Advisors Inc now owns 4,389 shares of the company’s stock worth $45,000 after acquiring an additional 2,396 shares during the period. OP Asset Management Ltd bought a new stake in shares of FIGS during the 1st quarter valued at about $115,000. Mach 1 Financial Group LLC purchased a new stake in shares of FIGS during the 4th quarter valued at about $178,000. Finally, Jefferies Financial Group Inc. purchased a new stake in shares of FIGS during the 4th quarter valued at about $218,000. 92.21% of the stock is currently owned by institutional investors.

About FIGS

FIGS, Inc is a direct-to-consumer healthcare apparel and lifestyle company that designs and sells clothing, footwear and accessories for healthcare professionals. Its product portfolio includes medical scrubs, scrub jackets, lab coats, underscrubs, outerwear, shoes, bags and other work-related accessories.

The company markets its products through its digital platform, retail locations and selected wholesale channels. FIGS emphasizes technical fabrics, comfort, functionality and contemporary styling, seeking to provide alternatives to traditional medical uniforms for nurses, physicians and other healthcare workers.

FIGS was founded in 2013 by Heather Hasson and Trina Spear and is headquartered in Santa Monica, California.