FIGS (NYSE:FIGS) Reaches New 1-Year High – What’s Next?

FIGS, Inc. (NYSE:FIGS)’s share price reached a new 52-week high on Tuesday. The stock traded as high as $22.51 and last traded at $22.3470, with a volume of 705,320 shares traded. The stock had previously closed at $21.58.

Wall Street Analysts Forecast Growth

FIGS has been the topic of several recent analyst reports. Roth Capital reiterated a “buy” rating on shares of FIGS in a report on Friday, August 7th. Oppenheimer raised their price objective on shares of FIGS from $22.00 to $25.00 and gave the company an “outperform” rating in a research report on Thursday, October 29th. The Goldman Sachs Group reissued a “neutral” rating and set a $16.00 price target on shares of FIGS in a research note on Friday, August 7th. KeyCorp boosted their price objective on shares of FIGS from $20.00 to $27.00 and gave the company an “overweight” rating in a report on Friday. Finally, Barclays boosted their price objective on FIGS from $20.00 to $24.00 and gave the company an “overweight” rating in a research report on Tuesday, November 3rd. Eight research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, FIGS currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.62.

FIGS Stock Up 3.3%

The firm has a 50 day moving average price of $16.46 and a two-hundred day moving average price of $13.69. The company has a market cap of $3.70 billion, a price-to-earnings ratio of 58.61 and a beta of 1.05.

FIGS (NYSE:FIGS) last posted its quarterly earnings results on Thursday, November 5th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.03. FIGS had a net margin of 8.72% and a return on equity of 12.53%. The business had revenue of $190.69 million during the quarter, compared to the consensus estimate of $182.82 million. During the same quarter last year, the firm posted $0.05 EPS. FIGS’s revenue was up 25.7% compared to the same quarter last year. On average, equities analysts expect that FIGS, Inc. will post 0.34 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Catherine Spear sold 4,044,284 shares of the firm’s stock in a transaction that occurred on Monday, November 9th. The shares were sold at an average price of $19.70, for a total value of $79,672,394.80. Following the transaction, the chief executive officer owned 1,671,854 shares in the company, valued at approximately $32,935,523.80. This trade represents a 70.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 27.06% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of FIGS. Wellington Management Group LLP purchased a new position in shares of FIGS in the second quarter valued at about $12,304,000. Jennison Associates LLC increased its position 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 valued at $20,696,000 after purchasing an additional 897,935 shares during the last quarter. KBC Group NV bought a new stake in shares of FIGS in the 1st quarter worth about $3,782,000. Dimensional Fund Advisors LP boosted its holdings in FIGS by 7.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,552,919 shares of the company’s stock valued at $52,472,000 after acquiring an additional 257,644 shares during the period. Finally, Bank of America Corp DE increased its stake in FIGS by 190.3% in the 1st quarter. Bank of America Corp DE now owns 790,013 shares of the company’s stock worth $11,668,000 after buying an additional 517,918 shares during the period. 92.21% of the stock is owned by institutional investors.

FIGS Company Profile

FIGS, Inc. designs and sells apparel and accessories for healthcare professionals. Its products include scrubs, underscrubs, lab coats, outerwear, footwear, compression socks and other work-related accessories, with an emphasis on functional design and performance fabrics. The company primarily sells through its e-commerce platform, serving healthcare workers in the United States and internationally. Its offerings are aimed at professionals across a range of medical roles and care settings. FIGS was founded in 2013 by Heather Hasson and Trina Spear.