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

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.

Several other research firms also recently commented on FIGS. BTIG Research lifted their price objective on FIGS from $12.00 to $15.00 and gave the stock a “buy” rating in a report on Wednesday. Telsey Advisory Group reaffirmed a “market perform” rating and set a $9.00 price target (up previously from $7.00) on shares of FIGS in a report on Monday, November 3rd. Wolfe Research upgraded shares of FIGS to a “buy” rating in a research note on Wednesday. Weiss Ratings reissued a “hold (c)” rating on shares of FIGS in a report on Monday, December 8th. Finally, Morgan Stanley raised their target price on shares of FIGS from $5.25 to $7.50 and gave the stock an “equal weight” rating in a report on Wednesday, November 19th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $9.20.

FIGS Trading Up 2.0%

FIGS stock opened at $11.91 on Friday. The stock’s 50 day simple moving average is $8.93 and its 200 day simple moving average is $7.20. FIGS has a 12-month low of $3.57 and a 12-month high of $12.20. The stock has a market capitalization of $1.96 billion, a PE ratio of 119.12 and a beta of 1.31.

FIGS (NYSE:FIGS) last posted its earnings results on Thursday, November 6th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.03. The business had revenue of $151.66 million during the quarter, compared to analyst estimates of $142.39 million. FIGS had a return on equity of 4.50% and a net margin of 3.03%.The company’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter last year, the company earned ($0.01) EPS. On average, research analysts predict that FIGS will post 0.01 earnings per share for the current year.

Insider Transactions at FIGS

In other news, CFO Sarah Oughtred sold 22,745 shares of the stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $7.39, for a total value of $168,085.55. Following the transaction, the chief financial officer owned 845,345 shares in the company, valued at $6,247,099.55. This represents a 2.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Catherine Eva Spear sold 62,213 shares of the firm’s stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $6.88, for a total transaction of $428,025.44. Following the completion of the transaction, the chief executive officer directly owned 1,907,033 shares in the company, valued at approximately $13,120,387.04. The trade was a 3.16% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 118,282 shares of company stock worth $842,076 in the last quarter. Company insiders own 29.44% of the company’s stock.

Institutional Investors Weigh In On FIGS

Hedge funds have recently modified their holdings of the business. Farther Finance Advisors LLC raised its holdings in FIGS by 12,795.0% in the 2nd quarter. Farther Finance Advisors LLC now owns 5,158 shares of the company’s stock worth $29,000 after purchasing an additional 5,118 shares during the period. Assetmark Inc. bought a new stake in FIGS during the third quarter valued at about $35,000. Quarry LP increased its position in FIGS by 1,876.3% in the third quarter. Quarry LP now owns 7,846 shares of the company’s stock worth $52,000 after buying an additional 7,449 shares in the last quarter. Capstone Financial Advisors Inc. purchased a new stake in FIGS in the second quarter worth about $56,000. Finally, Hudson Bay Capital Management LP bought a new position in shares of FIGS in the second quarter worth about $61,000. 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.