Flexsteel Industries (NASDAQ:FLXS) Lowered to “Hold” at StockNews.com

StockNews.com downgraded shares of Flexsteel Industries (NASDAQ:FLXS) from a buy rating to a hold rating in a research report report published on Wednesday.

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

Flexsteel Industries Stock Performance

Shares of Flexsteel Industries stock opened at $37.48 on Wednesday. The stock has a market cap of $193.02 million, a PE ratio of 12.92, a price-to-earnings-growth ratio of 1.64 and a beta of 0.53. The business has a fifty day simple moving average of $35.82 and a 200-day simple moving average of $25.81. 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 12 month low of $15.67 and a 12 month high of $41.64.

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. The firm had revenue of $100.11 million during the quarter, compared to analysts’ expectations of $100.09 million. Flexsteel Industries had a return on equity of 5.13% and a net margin of 3.86%. On average, sell-side analysts anticipate that Flexsteel Industries will post 1.95 EPS for the current fiscal year.

Flexsteel Industries Dividend Announcement

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

Institutional Investors Weigh In On Flexsteel Industries

Large investors have recently added to or reduced their stakes in the stock. UBS Group AG boosted its position in Flexsteel Industries by 90.7% during the third quarter. UBS Group AG now owns 2,090 shares of the company’s stock worth $33,000 after purchasing an additional 994 shares during the period. Barclays PLC bought a new stake in Flexsteel Industries during the third quarter worth approximately $40,000. BNP Paribas Arbitrage SA boosted its position in Flexsteel Industries by 109.6% during the second quarter. BNP Paribas Arbitrage SA now owns 2,257 shares of the company’s stock worth $41,000 after purchasing an additional 1,180 shares during the period. Victory Capital Management Inc. bought a new stake in Flexsteel Industries during the fourth quarter worth approximately $92,000. Finally, Bank of America Corp DE boosted its position in Flexsteel Industries by 49.4% during the first quarter. Bank of America Corp DE now owns 5,659 shares of the company’s stock worth $109,000 after purchasing an additional 1,871 shares during the period. Institutional investors own 36.27% of the company’s stock.

Flexsteel Industries Company Profile

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.