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

StockNews.com cut shares of Flexsteel Industries (NASDAQ:FLXS) from a buy rating to a hold rating in a report issued on Wednesday morning.

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

Flexsteel Industries Stock Up 0.2 %

FLXS stock opened at $37.49 on Wednesday. The firm has a market capitalization of $193.07 million, a PE ratio of 12.93, a P/E/G ratio of 1.60 and a beta of 0.53. 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 has a twelve month low of $15.67 and a twelve month high of $41.64. The stock’s 50 day moving average is $35.98 and its 200-day moving average is $26.01.

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

Flexsteel Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 4th. Shareholders of record on Tuesday, March 26th were paid a $0.15 dividend. The ex-dividend date of this dividend was Monday, March 25th. This represents a $0.60 dividend on an annualized basis and a yield of 1.60%. Flexsteel Industries’s dividend payout ratio (DPR) is presently 20.69%.

Institutional Trading of Flexsteel Industries

A number of large investors have recently added to or reduced their stakes in the stock. Barclays PLC bought a new position in shares of Flexsteel Industries during the 3rd quarter valued at approximately $40,000. UBS Group AG grew its holdings in Flexsteel Industries by 90.7% during the third 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 period. BNP Paribas Arbitrage SA increased its position in Flexsteel Industries by 109.6% in the second quarter. BNP Paribas Arbitrage SA now owns 2,257 shares of the company’s stock worth $41,000 after buying an additional 1,180 shares during the last quarter. Denali Advisors LLC bought a new stake in shares of Flexsteel Industries in the first quarter valued at $127,000. Finally, Victory Capital Management Inc. purchased a new position in shares of Flexsteel Industries during the 4th quarter valued at $92,000. Hedge funds and other institutional investors own 36.27% of the company’s stock.

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.