Flexsteel Industries (NASDAQ:FLXS) Downgraded by StockNews.com to Hold

Flexsteel Industries (NASDAQ:FLXS) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Wednesday.

Separately, TheStreet raised Flexsteel Industries from a “c” rating to a “b-” rating in a report on Monday, February 5th.

Flexsteel Industries Stock Up 0.2 %

FLXS stock opened at $38.55 on Wednesday. Flexsteel Industries has a twelve month low of $15.67 and a twelve month high of $41.64. The company has a market cap of $198.53 million, a price-to-earnings ratio of 13.29, a P/E/G ratio of 1.62 and a beta of 0.53. The business has a 50 day moving average price of $35.70 and a two-hundred day moving average price of $25.73. The company has a quick ratio of 0.90, a current ratio of 3.07 and a debt-to-equity ratio of 0.12.

Flexsteel Industries (NASDAQ:FLXS) last released its quarterly earnings data on Monday, February 5th. The company reported $0.57 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.57. Flexsteel Industries had a return on equity of 5.13% and a net margin of 3.86%. The company had revenue of $100.11 million during the quarter, compared to analysts’ expectations of $100.09 million. Analysts anticipate that Flexsteel Industries will post 1.95 EPS for the current fiscal year.

Hedge Funds Weigh In On Flexsteel Industries

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. UBS Group AG increased its stake in shares of 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 during the last quarter. Barclays PLC bought a new position in shares of Flexsteel Industries in the 3rd quarter valued at $40,000. BNP Paribas Arbitrage SA increased its stake in shares of 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 during the last quarter. Victory Capital Management Inc. bought a new position in shares of Flexsteel Industries in the 4th quarter valued at $92,000. Finally, Bank of America Corp DE increased its stake in shares of 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 during the last quarter. 36.27% of the stock is owned by institutional investors and hedge funds.

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.