Telsey Advisory Group Reaffirms Market Perform Rating for FIGS (NYSE:FIGS)

FIGS (NYSE:FIGS)‘s stock had its “market perform” rating restated by investment analysts at Telsey Advisory Group in a research report issued to clients and investors on Monday,Benzinga reports. They currently have a $7.00 target price on the stock. Telsey Advisory Group’s target price points to a potential downside of 5.98% from the stock’s current price.

FIGS has been the subject of a number of other reports. BTIG Research began coverage on FIGS in a research note on Tuesday, October 14th. They issued a “buy” rating and a $9.00 target price for the company. The Goldman Sachs Group boosted their target price on FIGS from $3.75 to $4.50 and gave the company a “sell” rating in a research note on Tuesday, July 22nd. Morgan Stanley boosted their target price on FIGS from $4.25 to $5.00 and gave the company an “equal weight” rating in a research note on Monday, July 21st. Wall Street Zen raised FIGS from a “buy” rating to a “strong-buy” rating in a research note on Sunday, October 12th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of FIGS in a research note on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, FIGS presently has an average rating of “Hold” and a consensus price target of $6.10.

FIGS Stock Down 4.4%

FIGS stock opened at $7.45 on Monday. The company has a market cap of $1.22 billion, a P/E ratio of 186.17, a PEG ratio of 4.78 and a beta of 1.34. FIGS has a twelve month low of $3.57 and a twelve month high of $8.49. The business has a fifty day moving average of $7.22 and a 200-day moving average of $6.05.

FIGS (NYSE:FIGS) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.02. FIGS had a return on equity of 1.84% and a net margin of 1.26%.The business had revenue of $152.64 million during the quarter, compared to analysts’ expectations of $144.17 million. During the same period in the previous year, the firm earned $0.01 earnings per share. The firm’s quarterly revenue was up 5.8% compared to the same quarter last year. As a group, equities research analysts anticipate that FIGS will post 0.01 earnings per share for the current fiscal year.

Insider Transactions at FIGS

In related news, CFO Sarah Oughtred sold 9,968 shares of the company’s stock in a transaction dated Friday, October 3rd. The stock was sold at an average price of $7.36, for a total transaction of $73,364.48. Following the sale, the chief financial officer owned 868,090 shares in the company, valued at approximately $6,389,142.40. This represents a 1.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Catherine Eva Spear sold 62,213 shares of the company’s stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $6.88, for a total value of $428,025.44. Following the sale, the chief executive officer owned 1,907,033 shares in the company, valued at $13,120,387.04. The trade was a 3.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 138,047 shares of company stock worth $954,548. Corporate insiders own 29.44% of the company’s stock.

Institutional Trading of FIGS

Institutional investors and hedge funds have recently bought and sold shares of the business. Farther Finance Advisors LLC raised its stake in FIGS by 12,795.0% in the second quarter. Farther Finance Advisors LLC now owns 5,158 shares of the company’s stock valued at $29,000 after buying an additional 5,118 shares during the period. Capstone Financial Advisors Inc. acquired a new position in shares of FIGS in the second quarter valued at approximately $56,000. Hudson Bay Capital Management LP acquired a new position in shares of FIGS in the second quarter valued at approximately $61,000. Walleye Capital LLC acquired a new position in shares of FIGS in the second quarter valued at approximately $65,000. Finally, Teacher Retirement System of Texas acquired a new position in shares of FIGS in the first quarter valued at approximately $66,000. 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.