FIGS (NYSE:FIGS) Given “Market Perform” Rating at Telsey Advisory Group

Telsey Advisory Group reaffirmed their market perform rating on shares of FIGS (NYSE:FIGS) in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has a $6.00 price target on the stock. Telsey Advisory Group also issued estimates for FIGS’s Q1 2024 earnings at ($0.01) EPS, Q2 2024 earnings at $0.01 EPS, Q3 2024 earnings at $0.02 EPS, Q4 2024 earnings at $0.04 EPS and FY2024 earnings at $0.06 EPS.

A number of other equities research analysts have also commented on FIGS. Bank of America reissued an underperform rating and issued a $4.50 price target (down from $8.50) on shares of FIGS in a research report on Tuesday, April 2nd. The Goldman Sachs Group lowered their price target on FIGS from $4.85 to $4.25 and set a sell rating for the company in a research report on Tuesday, April 23rd. Oppenheimer lowered FIGS from an outperform rating to a market perform rating in a research report on Friday, March 8th. Finally, Barclays reduced their price objective on FIGS from $7.00 to $5.00 and set an equal weight rating for the company in a research note on Friday, March 1st. Two investment analysts have rated the stock with a sell rating and four have given a hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of Hold and an average price target of $4.94.

FIGS Stock Down 3.7 %

Shares of NYSE:FIGS opened at $4.86 on Friday. FIGS has a twelve month low of $4.37 and a twelve month high of $8.84. The stock’s 50 day moving average is $5.06 and its 200-day moving average is $5.97. The firm has a market capitalization of $824.92 million, a price-to-earnings ratio of 44.14, a PEG ratio of 19.95 and a beta of 1.41.

FIGS (NYSE:FIGS) last issued its earnings results on Wednesday, February 28th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.03. FIGS had a return on equity of 6.72% and a net margin of 4.15%. The company had revenue of $144.90 million for the quarter, compared to analyst estimates of $149.09 million. During the same period in the prior year, the firm earned $0.05 earnings per share. FIGS’s revenue for the quarter was up .0% on a year-over-year basis. Equities research analysts anticipate that FIGS will post 0.05 earnings per share for the current fiscal year.

Insider Transactions at FIGS

In other news, CFO Daniella Turenshine sold 15,762 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $5.54, for a total transaction of $87,321.48. Following the completion of the transaction, the chief financial officer now owns 409,858 shares in the company, valued at approximately $2,270,613.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last 90 days, insiders sold 21,787 shares of company stock worth $122,632. 21.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Wellington Management Group LLP bought a new position in shares of FIGS during the 3rd quarter worth $4,306,000. Barclays PLC boosted its stake in FIGS by 62.6% in the 3rd quarter. Barclays PLC now owns 85,715 shares of the company’s stock worth $507,000 after purchasing an additional 33,003 shares during the period. Bamco Inc. NY boosted its stake in FIGS by 6.2% in the 3rd quarter. Bamco Inc. NY now owns 25,032,830 shares of the company’s stock worth $147,694,000 after purchasing an additional 1,470,706 shares during the period. SG Americas Securities LLC boosted its stake in FIGS by 64.3% in the 4th quarter. SG Americas Securities LLC now owns 49,467 shares of the company’s stock worth $344,000 after purchasing an additional 19,353 shares during the period. Finally, Boston Partners bought a new position in FIGS in the 3rd quarter worth about $692,000. 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.