Flexsteel Industries (NASDAQ:FLXS) Stock Price Crosses Below 200 Day Moving Average of $17.41

Flexsteel Industries, Inc. (NASDAQ:FLXSGet Rating)’s stock price passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $17.41 and traded as low as $15.33. Flexsteel Industries shares last traded at $15.49, with a volume of 5,642 shares trading hands.

Analyst Upgrades and Downgrades

Several research firms have issued reports on FLXS. TheStreet lowered Flexsteel Industries from a “c” rating to a “d+” rating in a research note on Monday, August 29th. StockNews.com began coverage on Flexsteel Industries in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock.

Flexsteel Industries Stock Up 1.6 %

The firm has a 50-day moving average price of $15.07 and a 200 day moving average price of $17.41. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.04 and a quick ratio of 0.91. The company has a market cap of $81.68 million, a price-to-earnings ratio of -49.97, a P/E/G ratio of 1.04 and a beta of 0.62.

Flexsteel Industries (NASDAQ:FLXSGet Rating) last posted its earnings results on Monday, August 22nd. The company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.02). The firm had revenue of $124.52 million during the quarter, compared to analyst estimates of $119.42 million. Flexsteel Industries had a negative net margin of 0.44% and a positive return on equity of 0.75%. During the same period in the previous year, the company posted $0.61 EPS. Sell-side analysts predict that Flexsteel Industries, Inc. will post 1.24 EPS for the current year.

Flexsteel Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, October 10th. Investors of record on Wednesday, September 28th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 3.87%. The ex-dividend date was Tuesday, September 27th. Flexsteel Industries’s dividend payout ratio is currently -193.54%.

Institutional Investors Weigh In On Flexsteel Industries

A number of large investors have recently added to or reduced their stakes in FLXS. Millennium Management LLC acquired a new stake in shares of Flexsteel Industries in the 2nd quarter valued at $1,380,000. BlackRock Inc. boosted its holdings in shares of Flexsteel Industries by 38.3% in the 3rd quarter. BlackRock Inc. now owns 146,344 shares of the company’s stock valued at $2,297,000 after purchasing an additional 40,540 shares in the last quarter. Marion Wealth Management acquired a new stake in shares of Flexsteel Industries in the 2nd quarter valued at $379,000. Citadel Advisors LLC bought a new position in shares of Flexsteel Industries in the 2nd quarter valued at $268,000. Finally, Trexquant Investment LP bought a new position in shares of Flexsteel Industries in the 3rd quarter valued at $183,000. Institutional investors and hedge funds own 41.78% of the company’s stock.

Flexsteel Industries Company Profile

(Get Rating)

Flexsteel Industries, Inc, together with its subsidiaries, operates as a manufacturer, importer, and online marketer of upholstered furniture for residential and contract markets in the United States. It provides upholstered furniture, such as sofas, loveseats, chairs, reclining and rocker-reclining chairs, swivel rockers, sofa beds, convertible bedding units, occasional tables, desks, dining tables and chairs, kitchen storage, bedroom furniture, and outdoor furniture.

Recommended Stories

Receive News & Ratings for Flexsteel Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Flexsteel Industries and related companies with MarketBeat.com's FREE daily email newsletter.