FIGS (NYSE:FIGS) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of FIGS (NYSE:FIGS) from a buy rating to a strong-buy rating in a report released on Saturday morning,Wall Street Zen reports.

FIGS has been the topic of a number of other research reports. BTIG Research upped their price target on shares of FIGS from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Barclays raised their price objective on shares of FIGS from $17.00 to $20.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Roth Capital restated a “buy” rating on shares of FIGS in a research report on Friday, August 7th. Weiss Ratings upgraded FIGS from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, August 21st. Finally, Telsey Advisory Group decreased their target price on FIGS from $17.00 to $16.00 and set a “market perform” rating on the stock in a research report on Friday, August 7th. Six analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $18.71.

FIGS Price Performance

Shares of FIGS opened at $17.75 on Friday. The firm has a market capitalization of $2.95 billion, a PE ratio of 53.80 and a beta of 1.06. The company’s 50-day moving average is $14.00 and its 200-day moving average is $12.98. FIGS has a fifty-two week low of $6.96 and a fifty-two week high of $17.98.

FIGS (NYSE:FIGS) last posted its earnings results on Thursday, August 6th. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.08. The company had revenue of $196.62 million during the quarter, compared to analysts’ expectations of $186.17 million. FIGS had a net margin of 8.72% and a return on equity of 12.53%. FIGS’s quarterly revenue was up 28.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.04 EPS. Analysts predict that FIGS will post 0.32 earnings per share for the current fiscal year.

Hedge Funds Weigh In On FIGS

Hedge funds have recently added to or reduced their stakes in the stock. Wellington Management Group LLP bought a new position in FIGS in the 2nd quarter valued at about $12,304,000. Jennison Associates LLC lifted its holdings in shares of FIGS by 178.4% during the 1st quarter. Jennison Associates LLC now owns 1,401,214 shares of the company’s stock worth $20,696,000 after acquiring an additional 897,935 shares during the period. LGT Fund Management Co Ltd. acquired a new stake in shares of FIGS during the 1st quarter worth approximately $3,961,000. KBC Group NV acquired a new stake in shares of FIGS during the 1st quarter worth approximately $3,782,000. Finally, Dimensional Fund Advisors LP boosted its position in shares of FIGS by 7.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,552,919 shares of the company’s stock worth $52,472,000 after acquiring an additional 257,644 shares in the last quarter. Institutional investors own 92.21% of the company’s stock.

About FIGS

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.