Flexsteel Industries (NASDAQ:FLXS – Get Free Report) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.
Separately, TheStreet raised shares of Flexsteel Industries from a “c” rating to a “b-” rating in a research note on Monday, February 5th.
Flexsteel Industries Price Performance
FLXS stock traded up $0.81 during trading on Wednesday, hitting $37.43. 33,329 shares of the company’s stock traded hands, compared to its average volume of 31,565. Flexsteel Industries has a 52 week low of $15.67 and a 52 week high of $38.40. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.90 and a current ratio of 3.07. The business has a fifty day simple moving average of $32.74 and a 200 day simple moving average of $23.81. The stock has a market capitalization of $192.76 million, a price-to-earnings ratio of 12.91, a P/E/G ratio of 1.52 and a beta of 0.52.
Flexsteel Industries (NASDAQ:FLXS – Get Free Report) last announced its earnings results on Monday, February 5th. The company reported $0.57 earnings per share for the quarter, meeting the consensus estimate of $0.57. Flexsteel Industries had a net margin of 3.86% and a return on equity of 5.13%. The business had revenue of $100.11 million for the quarter, compared to the consensus estimate of $100.09 million. As a group, research analysts expect that Flexsteel Industries will post 1.95 EPS for the current fiscal year.
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in the stock. Bridgeway Capital Management LLC grew its holdings in Flexsteel Industries by 2.9% during the 4th quarter. Bridgeway Capital Management LLC now owns 54,895 shares of the company’s stock worth $1,035,000 after acquiring an additional 1,536 shares in the last quarter. Northern Trust Corp grew its holdings in Flexsteel Industries by 22.3% during the 4th quarter. Northern Trust Corp now owns 24,450 shares of the company’s stock worth $461,000 after acquiring an additional 4,457 shares in the last quarter. Victory Capital Management Inc. bought a new position in Flexsteel Industries during the 4th quarter worth about $92,000. Royal Bank of Canada grew its holdings in Flexsteel Industries by 11.4% during the 3rd quarter. Royal Bank of Canada now owns 13,400 shares of the company’s stock worth $278,000 after acquiring an additional 1,369 shares in the last quarter. Finally, FMR LLC grew its holdings in Flexsteel Industries by 6.3% during the 3rd quarter. FMR LLC now owns 31,275 shares of the company’s stock worth $649,000 after acquiring an additional 1,843 shares in the last quarter. Hedge funds and other institutional investors own 36.27% of the company’s stock.
About Flexsteel Industries
Flexsteel Industries, Inc, together with its subsidiaries, operates as a manufacturer, importer, and markets of upholstered furniture for residential and contract markets in the United States. It provides upholstered furniture, such as sofas, loveseats, chairs, reclining rocking chairs, swivel rockers, sofa beds, convertible bedding units, occasional tables, desks, dining tables and chairs, kitchen storage, bedroom furniture, and outdoor furniture.