Flex (NASDAQ:FLEX) Stock Rating Upgraded by StockNews.com

Flex (NASDAQ:FLEX) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Friday.

A number of other equities research analysts have also weighed in on FLEX. Stifel Nicolaus boosted their price target on Flex from $40.00 to $48.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. KeyCorp assumed coverage on Flex in a research report on Tuesday, October 22nd. They set an “overweight” rating and a $41.00 price target on the stock. The Goldman Sachs Group set a $39.00 price objective on Flex in a report on Thursday, October 17th. Craig Hallum lifted their price target on Flex from $39.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Finally, Barclays upped their price objective on Flex from $39.00 to $43.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Flex currently has an average rating of “Buy” and an average price target of $42.67.

Flex Stock Up 1.0 %

Shares of NASDAQ FLEX traded up $0.42 during trading hours on Friday, hitting $44.27. 2,486,100 shares of the stock were exchanged, compared to its average volume of 2,963,727. Flex has a 12 month low of $22.57 and a 12 month high of $45.10. The firm has a fifty day moving average price of $39.79 and a 200-day moving average price of $35.04. The company has a quick ratio of 0.85, a current ratio of 1.43 and a debt-to-equity ratio of 0.64. The company has a market cap of $17.17 billion, a PE ratio of 19.59, a PEG ratio of 2.81 and a beta of 1.10.

Insider Transactions at Flex

In other Flex news, Director Charles K. Stevens III sold 13,157 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $38.69, for a total transaction of $509,044.33. Following the completion of the sale, the director now directly owns 55,713 shares in the company, valued at approximately $2,155,535.97. The trade was a 19.10 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Kwang Hooi Tan sold 8,028 shares of the stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $35.39, for a total value of $284,110.92. Following the transaction, the insider now directly owns 240,018 shares of the company’s stock, valued at $8,494,237.02. The trade was a 3.24 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.82% of the company’s stock.

Institutional Trading of Flex

Several large investors have recently made changes to their positions in FLEX. Harbor Capital Advisors Inc. acquired a new stake in shares of Flex in the 3rd quarter worth $29,000. Huntington National Bank raised its stake in Flex by 87.9% during the third quarter. Huntington National Bank now owns 1,024 shares of the technology company’s stock worth $34,000 after purchasing an additional 479 shares during the period. R Squared Ltd acquired a new position in Flex in the 4th quarter valued at about $35,000. Kathleen S. Wright Associates Inc. purchased a new stake in shares of Flex in the 3rd quarter valued at approximately $39,000. Finally, Quarry LP purchased a new stake in Flex during the second quarter worth about $43,000. 94.30% of the stock is currently owned by hedge funds and other institutional investors.

Flex Company Profile

Flex Ltd. provides technology, supply chain, and manufacturing solutions in Asia, the Americas, and Europe. It operates through three segments: Flex Agility Solutions (FAS), Flex Reliability Solutions (FRS), and Nextracker. The FAS segment offers flexible supply and manufacturing system comprising communications, enterprise and cloud solution, which includes data, edge, and communications infrastructure; lifestyle solution including appliances, consumer packaging, floorcare, micro mobility, and audio; and consumer devices, such as mobile and high velocity consumer devices.