FIGS (NYSE:FIGS) Reaches New 1-Year High – Should You Buy?

FIGS, Inc. (NYSE:FIGS)’s stock price hit a new 52-week high on Tuesday. The company traded as high as $20.88 and last traded at $20.1940, with a volume of 54,092 shares trading hands. The stock had previously closed at $20.83.

Analyst Ratings Changes

FIGS has been the subject of a number of analyst reports. Weiss Ratings raised FIGS from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, October 12th. Wall Street Zen raised shares of FIGS from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 10th. KeyCorp increased their target price on shares of FIGS from $19.00 to $20.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Roth Capital reiterated a “buy” rating on shares of FIGS in a research report on Friday, August 7th. Finally, BTIG Research lifted their price target on shares of FIGS from $20.00 to $22.00 and gave the company a “buy” rating in a report on Friday, August 7th. Seven investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, FIGS currently has a consensus rating of “Moderate Buy” and an average target price of $18.71.

FIGS Price Performance

The firm has a market capitalization of $3.37 billion, a P/E ratio of 61.45 and a beta of 1.06. The company’s 50 day moving average price is $15.23 and its 200 day moving average price is $13.24.

FIGS (NYSE:FIGS) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.15 earnings per share 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 during the quarter, compared to analysts’ expectations of $186.17 million. During the same quarter in the previous year, the company posted $0.04 EPS. FIGS’s revenue was up 28.8% on a year-over-year basis. On average, research analysts anticipate that FIGS, Inc. will post 0.32 EPS for the current fiscal year.

Institutional Investors Weigh In On FIGS

Hedge funds and other institutional investors have recently made changes to their positions in the company. Sterling Capital Management LLC raised its position in shares of FIGS by 848.2% during the third quarter. Sterling Capital Management LLC now owns 3,167 shares of the company’s stock worth $44,000 after acquiring an additional 2,833 shares during the last quarter. Integrated Wealth Concepts LLC bought a new position in FIGS in the second quarter valued at about $41,000. IFP Advisors Inc boosted its holdings 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 acquiring an additional 2,396 shares during the last quarter. OP Asset Management Ltd bought a new position in FIGS in the first quarter valued at about $115,000. Finally, State of Alaska Department of Revenue bought a new position in FIGS in the third quarter valued at about $116,000. 92.21% of the stock is owned by institutional investors and hedge funds.

FIGS Company Profile

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.