Omega Flex (NASDAQ:OFLX) Lowered to “C+” at TheStreet

Omega Flex (NASDAQ:OFLX – Get Rating) was downgraded by research analysts at TheStreet from a “b” rating to a “c+” rating in a research note issued on Thursday, TheStreetRatingsTable reports.

Separately, StockNews.com initiated coverage on Omega Flex in a research note on Thursday, March 31st. They issued a “hold” rating for the company.

OFLX stock opened at $119.80 on Thursday. Omega Flex has a fifty-two week low of $109.00 and a fifty-two week high of $173.20. The business’s 50 day moving average price is $135.53 and its two-hundred day moving average price is $135.10. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.46 and a current ratio of 3.15. The company has a market capitalization of $1.21 billion, a price-to-earnings ratio of 46.25 and a beta of 0.31.

Omega Flex (NASDAQ:OFLX – Get Rating) last released its quarterly earnings data on Wednesday, February 16th. The industrial products company reported $0.75 earnings per share (EPS) for the quarter. The business had revenue of $35.46 million for the quarter. Omega Flex had a return on equity of 47.75% and a net margin of 20.15%.

In other news, Director Stewart B. Reed sold 40,517 shares of Omega Flex stock in a transaction that occurred on Wednesday, February 23rd. The shares were sold at an average price of $137.72, for a total transaction of $5,580,001.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 43.00% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Conestoga Capital Advisors LLC lifted its position in Omega Flex by 0.4% during the fourth quarter. Conestoga Capital Advisors LLC now owns 551,882 shares of the industrial products company’s stock valued at $70,061,000 after purchasing an additional 2,272 shares during the period. BlackRock Inc. grew its stake in Omega Flex by 8.2% during the 4th quarter. BlackRock Inc. now owns 230,827 shares of the industrial products company’s stock valued at $29,303,000 after acquiring an additional 17,560 shares in the last quarter. Neuberger Berman Group LLC grew its stake in shares of Omega Flex by 29.4% in the 3rd quarter. Neuberger Berman Group LLC now owns 229,547 shares of the industrial products company’s stock valued at $32,754,000 after buying an additional 52,147 shares during the period. Geode Capital Management LLC grew its stake in shares of Omega Flex by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 61,079 shares of the industrial products company’s stock valued at $7,753,000 after buying an additional 714 shares during the period. Finally, State Street Corp lifted its holdings in shares of Omega Flex by 3.1% in the 4th quarter. State Street Corp now owns 60,827 shares of the industrial products company’s stock worth $7,722,000 after acquiring an additional 1,818 shares during the last quarter. 34.02% of the stock is currently owned by hedge funds and other institutional investors.

Omega Flex Company Profile (Get Rating)

Omega Flex, Inc, together with its subsidiaries, manufactures and sells flexible metal hoses and accessories in North America and internationally. It offers flexible gas piping for use in residential and commercial buildings, as well as its fittings; and corrugated medical tubing for use in hospitals, ambulatory care centers, dental, physician and veterinary clinics, laboratories, and other facilities.

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