Flexsteel Industries (NASDAQ:FLXS) Lowered to Buy Rating by Wall Street Zen

Flexsteel Industries (NASDAQ:FLXS) was downgraded by equities researchers at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a report released on Sunday.

Flexsteel Industries Trading Up 0.4%

FLXS stock opened at $34.41 on Friday. Flexsteel Industries has a 52 week low of $29.38 and a 52 week high of $65.87. The company has a market capitalization of $181.34 million, a price-to-earnings ratio of 13.55, a price-to-earnings-growth ratio of 0.76 and a beta of 0.32. The firm’s 50-day moving average is $35.48 and its two-hundred day moving average is $37.89.

Hedge Funds Weigh In On Flexsteel Industries

Hedge funds have recently made changes to their positions in the business. Deutsche Bank AG acquired a new position in shares of Flexsteel Industries in the 4th quarter worth approximately $181,000. Nuveen Asset Management LLC grew its stake in shares of Flexsteel Industries by 274.7% in the 4th quarter. Nuveen Asset Management LLC now owns 23,202 shares of the company’s stock worth $1,261,000 after purchasing an additional 17,010 shares during the last quarter. Public Employees Retirement System of Ohio grew its stake in shares of Flexsteel Industries by 223.3% in the 4th quarter. Public Employees Retirement System of Ohio now owns 3,686 shares of the company’s stock worth $200,000 after purchasing an additional 2,546 shares during the last quarter. Bank of America Corp DE grew its stake in shares of Flexsteel Industries by 40.3% in the 4th quarter. Bank of America Corp DE now owns 4,843 shares of the company’s stock worth $263,000 after purchasing an additional 1,392 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of Flexsteel Industries by 4,864.0% in the 1st quarter. GAMMA Investing LLC now owns 1,241 shares of the company’s stock worth $45,000 after purchasing an additional 1,216 shares during the last quarter. 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.