FIGS (NYSE:FIGS) Reaches New 52-Week High – Time to Buy?

FIGS, Inc. (NYSE:FIGS)’s share price hit a new 52-week high during mid-day trading on Wednesday. The company traded as high as $20.44 and last traded at $20.3640, with a volume of 724,488 shares trading hands. The stock had previously closed at $19.86.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on FIGS shares. Barclays upped their price target on shares of FIGS from $17.00 to $20.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. BTIG Research lifted their price objective on shares of FIGS from $20.00 to $22.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. Roth Capital reiterated a “buy” rating on shares of FIGS in a research note on Friday, August 7th. Weiss Ratings raised shares of FIGS from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, October 12th. Finally, The Goldman Sachs Group restated a “neutral” rating and set a $16.00 target price on shares of FIGS in a research report on Friday, August 7th. Seven equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, FIGS has a consensus rating of “Moderate Buy” and an average price target of $18.71.

FIGS Trading Up 0.7%

The stock has a market capitalization of $3.32 billion, a P/E ratio of 60.61 and a beta of 1.06. The business has a 50-day moving average price of $14.77 and a two-hundred day moving average price of $13.15.

FIGS (NYSE:FIGS) last posted 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. FIGS had a return on equity of 12.53% and a net margin of 8.72%. The business had revenue of $196.62 million during the quarter, compared to the consensus estimate of $186.17 million. During the same quarter in the previous year, the firm earned $0.04 earnings per share. FIGS’s revenue for the quarter was up 28.8% compared to the same quarter last year. On average, sell-side analysts forecast that FIGS, Inc. will post 0.32 earnings per share for the current fiscal year.

Institutional Investors Weigh In On FIGS

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. State of Alaska Department of Revenue acquired a new position in shares of FIGS during the 3rd quarter worth $116,000. Sanders Morris Harris LLC bought a new stake in shares of FIGS during the 3rd quarter worth $403,000. Tidal Investments LLC lifted its position in shares of FIGS by 69.6% during the 2nd quarter. Tidal Investments LLC now owns 27,467 shares of the company’s stock worth $281,000 after buying an additional 11,270 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new stake in FIGS in the second quarter valued at about $41,000. Finally, IFP Advisors Inc boosted its stake in FIGS by 120.2% in the second quarter. IFP Advisors Inc now owns 4,389 shares of the company’s stock valued at $45,000 after buying an additional 2,396 shares in the last quarter. 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 and accessories for healthcare professionals. Its product portfolio includes scrubs, underscrubs, outerwear, footwear, bags and other accessories intended to combine functionality, comfort and contemporary design.

The company sells primarily through its digital platform and also operates retail locations and other distribution channels. FIGS serves healthcare professionals in the United States and select international markets, including Canada, the United Kingdom and Australia.

FIGS was founded in 2013 by Heather Hasson and Trina Spear.