Flexsteel Industries (NASDAQ:FLXS) Downgraded by StockNews.com

StockNews.com lowered shares of Flexsteel Industries (NASDAQ:FLXSFree Report) from a buy rating to a hold rating in a report issued on Wednesday.

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

Get Our Latest Research Report on Flexsteel Industries

Flexsteel Industries Stock Performance

NASDAQ FLXS opened at $37.30 on Wednesday. The company has a market cap of $192.10 million, a PE ratio of 12.86, a price-to-earnings-growth ratio of 1.60 and a beta of 0.52. The stock’s 50 day simple moving average is $33.11 and its 200-day simple moving average is $24.03. Flexsteel Industries has a 1-year low of $15.67 and a 1-year high of $38.40. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.07 and a quick ratio of 0.90.

Flexsteel Industries (NASDAQ:FLXSGet Free Report) last posted its quarterly earnings results on Monday, February 5th. The company reported $0.57 EPS for the quarter, meeting the consensus estimate of $0.57. Flexsteel Industries had a return on equity of 5.13% and a net margin of 3.86%. The firm had revenue of $100.11 million during the quarter, compared to analysts’ expectations of $100.09 million. As a group, equities research analysts anticipate that Flexsteel Industries will post 1.95 EPS for the current fiscal year.

Flexsteel Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 4th. Shareholders of record on Tuesday, March 26th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date of this dividend is Monday, March 25th. Flexsteel Industries’s dividend payout ratio (DPR) is 20.69%.

Institutional Trading of Flexsteel Industries

A number of institutional investors have recently bought and sold shares of FLXS. Ancora Advisors LLC lifted its holdings in shares of Flexsteel Industries by 2.5% in the 1st quarter. Ancora Advisors LLC now owns 24,249 shares of the company’s stock valued at $845,000 after purchasing an additional 593 shares during the last quarter. State Street Corp increased its position in Flexsteel Industries by 2.6% in the 1st quarter. State Street Corp now owns 106,455 shares of the company’s stock valued at $2,070,000 after acquiring an additional 2,688 shares during the period. Bank of America Corp DE increased its position in Flexsteel Industries by 49.4% in the 1st quarter. Bank of America Corp DE now owns 5,659 shares of the company’s stock valued at $109,000 after acquiring an additional 1,871 shares during the period. BNP Paribas Arbitrage SA increased its position in Flexsteel Industries by 109.6% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 2,257 shares of the company’s stock valued at $41,000 after acquiring an additional 1,180 shares during the period. Finally, Millennium Management LLC acquired a new position in Flexsteel Industries in the 2nd quarter valued at about $1,380,000. 36.27% of the stock is owned by hedge funds and other institutional investors.

Flexsteel Industries Company Profile

(Get Free Report)

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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