Flexsteel Industries (NASDAQ:FLXS – Get Free Report) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Wednesday.
Separately, TheStreet upgraded Flexsteel Industries from a “c” rating to a “b-” rating in a research report on Monday, February 5th.
Check Out Our Latest Research Report on FLXS
Flexsteel Industries Trading Up 0.2 %
Flexsteel Industries (NASDAQ:FLXS – Get Free Report) last announced its earnings results on Monday, February 5th. The company reported $0.57 earnings per share 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 business had revenue of $100.11 million during the quarter, compared to analysts’ expectations of $100.09 million. On average, sell-side analysts expect that Flexsteel Industries will post 1.95 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Flexsteel Industries
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in Flexsteel Industries by 2.2% during the 3rd quarter. Vanguard Group Inc. now owns 243,811 shares of the company’s stock valued at $3,828,000 after acquiring an additional 5,362 shares in the last quarter. Punch & Associates Investment Management Inc. grew its stake in Flexsteel Industries by 0.6% during the 1st quarter. Punch & Associates Investment Management Inc. now owns 196,499 shares of the company’s stock valued at $3,785,000 after acquiring an additional 1,199 shares in the last quarter. BlackRock Inc. grew its stake in Flexsteel Industries by 38.3% during the 3rd quarter. BlackRock Inc. now owns 146,344 shares of the company’s stock valued at $2,297,000 after acquiring an additional 40,540 shares in the last quarter. State Street Corp grew its stake in Flexsteel Industries by 2.6% during 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 in the last quarter. Finally, Millennium Management LLC purchased a new position in Flexsteel Industries during the 2nd quarter valued at about $1,380,000. Institutional investors and hedge funds own 36.27% of the company’s stock.
About Flexsteel Industries
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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