Flexsteel Industries (NASDAQ:FLXS) Upgraded to “Buy” at StockNews.com

StockNews.com upgraded shares of Flexsteel Industries (NASDAQ:FLXSGet Rating) from a hold rating to a buy rating in a research report released on Monday morning.

Flexsteel Industries Stock Performance

Shares of FLXS stock opened at $18.83 on Monday. The stock’s 50-day moving average is $15.77 and its two-hundred day moving average is $16.26. Flexsteel Industries has a fifty-two week low of $13.46 and a fifty-two week high of $26.32. The firm has a market cap of $99.29 million, a P/E ratio of -60.74, a PEG ratio of 1.24 and a beta of 0.56. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.04 and a quick ratio of 0.91.

Flexsteel Industries (NASDAQ:FLXSGet Rating) last released its earnings results on Monday, October 24th. The company reported $0.09 EPS for the quarter, beating the consensus estimate of ($0.25) by $0.34. The company had revenue of $95.68 million during the quarter, compared to analysts’ expectations of $82.34 million. Flexsteel Industries had a positive return on equity of 0.75% and a negative net margin of 0.44%. Analysts predict that Flexsteel Industries will post 1.24 earnings per share for the current fiscal year.

Flexsteel Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, January 9th. Investors of record on Wednesday, December 28th were given a $0.15 dividend. The ex-dividend date of this dividend was Tuesday, December 27th. This represents a $0.60 annualized dividend and a yield of 3.19%. Flexsteel Industries’s payout ratio is -193.54%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of FLXS. UBS Group AG increased its position in shares of Flexsteel Industries by 90.7% in the third quarter. UBS Group AG now owns 2,090 shares of the company’s stock valued at $33,000 after acquiring an additional 994 shares during the period. BNP Paribas Arbitrage SA increased its holdings in Flexsteel Industries by 109.6% during the second quarter. BNP Paribas Arbitrage SA now owns 2,257 shares of the company’s stock valued at $41,000 after buying an additional 1,180 shares during the last quarter. Bank of America Corp DE increased its stake in shares of Flexsteel Industries by 49.4% in the first quarter. Bank of America Corp DE now owns 5,659 shares of the company’s stock worth $109,000 after purchasing an additional 1,871 shares in the last quarter. Delphia USA Inc. bought a new position in shares of Flexsteel Industries during the second quarter worth $182,000. Finally, Price T Rowe Associates Inc. MD bought a new position in Flexsteel Industries during the second quarter valued at $202,000. 60.24% of the stock is owned by institutional investors.

Flexsteel Industries Company Profile

(Get Rating)

Flexsteel Industries, Inc engages in the manufacture, import, and marketing of residential and commercial upholstered, and wood furniture products. Its products include sofas, loveseats, chairs, reclining and rocker-reclining chairs, swivel rockers, sofa beds, convertible bedding units, occasional tables, desks, dining tables and chairs, and bedroom furniture.

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