Flexsteel Industries (NASDAQ:FLXS) Receives New Coverage from Analysts at StockNews.com

Equities researchers at StockNews.com began coverage on shares of Flexsteel Industries (NASDAQ:FLXS – Get Rating) in a report released on Saturday. The firm set a “buy” rating on the stock.

Separately, TheStreet raised shares of Flexsteel Industries from a “d+” rating to a “c” rating in a research note on Monday, February 6th.

Flexsteel Industries Price Performance

Shares of NASDAQ FLXS opened at $21.22 on Friday. The stock has a market capitalization of $109.92 million, a price-to-earnings ratio of 15.72, a PEG ratio of 1.63 and a beta of 0.62. Flexsteel Industries has a 12 month low of $13.46 and a 12 month high of $23.81. The firm’s 50 day simple moving average is $19.46 and its 200-day simple moving average is $16.80. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.34 and a quick ratio of 0.92.

Flexsteel Industries (NASDAQ:FLXS – Get Rating) last issued its quarterly earnings data on Monday, February 6th. The company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.07. The business had revenue of $93.14 million for the quarter, compared to analysts’ expectations of $90.10 million. Flexsteel Industries had a net margin of 1.80% and a return on equity of 6.34%. Analysts expect that Flexsteel Industries will post 1 EPS for the current year.

Insider Activity at Flexsteel Industries

In related news, VP Timothy Patrick Newlin sold 2,000 shares of Flexsteel Industries stock in a transaction on Thursday, February 9th. The shares were sold at an average price of $20.00, for a total value of $40,000.00. Following the sale, the vice president now owns 27,154 shares of the company’s stock, valued at approximately $543,080. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 12.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Flexsteel Industries

A number of institutional investors have recently added to or reduced their stakes in the stock. UBS Group AG lifted its holdings in Flexsteel Industries by 90.7% in the 3rd quarter. UBS Group AG now owns 2,090 shares of the company’s stock valued at $33,000 after purchasing an additional 994 shares in the last quarter. BNP Paribas Arbitrage SA lifted its holdings in Flexsteel Industries by 109.6% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 2,257 shares of the company’s stock valued at $41,000 after purchasing an additional 1,180 shares in the last quarter. Bank of America Corp DE lifted its holdings in Flexsteel Industries by 49.4% in the 1st quarter. Bank of America Corp DE now owns 5,659 shares of the company’s stock valued at $109,000 after purchasing an additional 1,871 shares in the last quarter. Delphia USA Inc. purchased a new position in Flexsteel Industries in the 2nd quarter valued at $182,000. Finally, Price T Rowe Associates Inc. MD purchased a new position in Flexsteel Industries in the 2nd quarter valued at $202,000. Institutional investors and hedge funds own 60.24% of the company’s stock.

About Flexsteel Industries

(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.