Flexsteel Industries (NASDAQ:FLXS – Get Free Report) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.
Separately, TheStreet raised Flexsteel Industries from a “c” rating to a “b-” rating in a research note on Monday, February 5th.
View Our Latest Research Report on Flexsteel Industries
Flexsteel Industries Trading Down 5.4 %
Flexsteel Industries (NASDAQ:FLXS – Get Free Report) last released its quarterly earnings data on Monday, February 5th. The company reported $0.57 EPS for the quarter, meeting analysts’ consensus estimates of $0.57. The company had revenue of $100.11 million during the quarter, compared to the consensus estimate of $100.09 million. Flexsteel Industries had a net margin of 3.87% and a return on equity of 6.54%. Research analysts forecast that Flexsteel Industries will post 2.09 earnings per share for the current fiscal year.
Institutional Trading of Flexsteel Industries
Hedge funds and other institutional investors have recently made changes to their positions in the company. Empowered Funds LLC grew its position in Flexsteel Industries by 7.7% in the first quarter. Empowered Funds LLC now owns 19,536 shares of the company’s stock worth $729,000 after acquiring an additional 1,400 shares during the period. Barclays PLC acquired a new position in shares of Flexsteel Industries in the 3rd quarter valued at $40,000. Marion Wealth Management grew its holdings in shares of Flexsteel Industries by 7.1% during the 1st quarter. Marion Wealth Management now owns 29,837 shares of the company’s stock worth $1,113,000 after purchasing an additional 1,979 shares during the period. Denali Advisors LLC acquired a new stake in shares of Flexsteel Industries during the 1st quarter worth about $127,000. Finally, Victory Capital Management Inc. purchased a new stake in Flexsteel Industries in the 4th quarter valued at about $92,000. Institutional investors and hedge funds 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.
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