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

Flexsteel Industries (NASDAQ:FLXS) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Wednesday.

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

Flexsteel Industries Price Performance

NASDAQ FLXS opened at $35.10 on Wednesday. The firm’s fifty day simple moving average is $36.85 and its two-hundred day simple moving average is $27.66. The firm has a market capitalization of $180.98 million, a P/E ratio of 11.90, a P/E/G ratio of 1.50 and a beta of 0.58. The company has a current ratio of 2.79, a quick ratio of 0.99 and a debt-to-equity ratio of 0.10. Flexsteel Industries has a 12-month low of $15.67 and a 12-month high of $41.64.

Flexsteel Industries (NASDAQ:FLXS) last announced its earnings results on Monday, February 5th. The company reported $0.57 earnings per share for the quarter, hitting the consensus estimate of $0.57. Flexsteel Industries had a return on equity of 6.54% and a net margin of 3.87%. The firm had revenue of $100.11 million for the quarter, compared to the consensus estimate of $100.09 million. Analysts forecast that Flexsteel Industries will post 2.09 EPS for the current fiscal year.

Institutional Investors Weigh In On Flexsteel Industries

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Empowered Funds LLC increased its position in shares of Flexsteel Industries by 7.7% in the 1st quarter. Empowered Funds LLC now owns 19,536 shares of the company’s stock valued at $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 third quarter valued at about $40,000. Marion Wealth Management raised its stake in shares of Flexsteel Industries by 7.1% in the first 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 last quarter. Denali Advisors LLC acquired a new stake in shares of Flexsteel Industries during the first quarter worth about $127,000. Finally, Victory Capital Management Inc. acquired a new stake in shares of Flexsteel Industries during the fourth quarter worth about $92,000. 36.27% of the stock is currently owned by institutional investors and hedge funds.

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.