FIGS, Inc. (NYSE:FIGS) Stock Now Rated “Moderate Buy” by Sell-Side Brokerages

Shares of FIGS, Inc. (NYSE:FIGS) have earned a consensus recommendation of “Moderate Buy” from the eleven research firms that are covering the company, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $18.71.

A number of brokerages have issued reports on FIGS. Wall Street Zen raised shares of FIGS from a “buy” rating to a “strong-buy” rating in a report on Saturday. The Goldman Sachs Group reissued a “neutral” rating and issued a $16.00 target price on shares of FIGS in a research note on Friday, August 7th. Weiss Ratings raised FIGS from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, August 21st. BTIG Research increased their price objective on FIGS from $20.00 to $22.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Finally, KeyCorp boosted their target price on FIGS from $19.00 to $20.00 and gave the company an “overweight” rating in a research note on Friday, August 7th.

FIGS Stock Performance

Shares of FIGS stock opened at $17.75 on Thursday. The company has a market capitalization of $2.95 billion, a P/E ratio of 53.80 and a beta of 1.06. FIGS has a fifty-two week low of $6.96 and a fifty-two week high of $17.98. The stock has a 50 day moving average price of $14.00 and a two-hundred day moving average price of $12.98.

FIGS (NYSE:FIGS) last issued its earnings results on Thursday, August 6th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.08. FIGS had a net margin of 8.72% and a return on equity of 12.53%. The firm had revenue of $196.62 million for the quarter, compared to analysts’ expectations of $186.17 million. During the same quarter last year, the business earned $0.04 earnings per share. The business’s revenue was up 28.8% on a year-over-year basis. As a group, equities analysts predict that FIGS will post 0.32 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. IFP Advisors Inc raised its stake in 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 buying an additional 2,396 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new position in shares of FIGS during the 2nd quarter worth approximately $41,000. R Squared Ltd raised its position in shares of FIGS by 42.0% in the 1st quarter. R Squared Ltd now owns 15,009 shares of the company’s stock worth $222,000 after acquiring an additional 4,436 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of FIGS by 13.9% in the 1st quarter. The Manufacturers Life Insurance Company now owns 60,354 shares of the company’s stock valued at $891,000 after purchasing an additional 7,348 shares during the period. Finally, OP Asset Management Ltd bought a new stake in shares of FIGS during the first quarter valued at approximately $115,000. 92.21% of the stock is owned by hedge funds and other institutional investors.

FIGS Company Profile

FIGS, Inc (NYSE: FIGS) is a healthcare apparel and lifestyle company that designs and sells clothing, footwear, accessories and other products for healthcare professionals. Its product portfolio includes medical scrubs, lab coats, jackets, underscrubs, shoes, bags and related essentials designed for use in clinical and professional settings.

Founded in 2013 by Heather Hasson and Trina Spear, FIGS built its business around modern, performance-oriented alternatives to traditional medical uniforms.