StockNews.com Downgrades Omega Flex (NASDAQ:OFLX) to Hold

Omega Flex (NASDAQ:OFLX) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.

Omega Flex Stock Performance

Shares of OFLX opened at $34.96 on Thursday. The stock has a market cap of $352.89 million, a PE ratio of 19.32 and a beta of 0.36. Omega Flex has a fifty-two week low of $28.12 and a fifty-two week high of $67.56. The firm’s 50-day simple moving average is $33.42 and its two-hundred day simple moving average is $39.95.

Omega Flex (NASDAQ:OFLX) last announced its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $0.35 earnings per share for the quarter. The business had revenue of $23.33 million for the quarter. Omega Flex had a net margin of 17.71% and a return on equity of 22.68%.

Institutional Investors Weigh In On Omega Flex

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. American Century Companies Inc. grew its holdings in shares of Omega Flex by 4.6% during the first quarter. American Century Companies Inc. now owns 7,667 shares of the industrial products company’s stock valued at $267,000 after buying an additional 340 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of Omega Flex by 0.8% during the fourth quarter. Renaissance Technologies LLC now owns 52,680 shares of the industrial products company’s stock valued at $2,211,000 after buying an additional 400 shares during the last quarter. Two Sigma Advisers LP grew its holdings in shares of Omega Flex by 5.5% during the fourth quarter. Two Sigma Advisers LP now owns 7,700 shares of the industrial products company’s stock valued at $323,000 after buying an additional 400 shares during the last quarter. PDT Partners LLC grew its holdings in shares of Omega Flex by 7.3% during the first quarter. PDT Partners LLC now owns 6,791 shares of the industrial products company’s stock valued at $236,000 after buying an additional 462 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Omega Flex by 1.4% during the fourth quarter. Northern Trust Corp now owns 36,525 shares of the industrial products company’s stock valued at $1,533,000 after buying an additional 499 shares during the last quarter. Hedge funds and other institutional investors own 36.06% of the company’s stock.

Omega Flex Company Profile

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; fittings; containment pining; and corrugated medical tubing for use in hospitals, ambulatory care centers, dental, physician and veterinary clinics, laboratories, and other facilities.