Flexsteel Industries (NASDAQ:FLXS) Upgraded to “Buy” at StockNews.com

Flexsteel Industries (NASDAQ:FLXS) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Tuesday.

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

Flexsteel Industries Stock Down 15.6 %

FLXS traded down $6.07 on Tuesday, hitting $32.96. 36,121 shares of the company were exchanged, compared to its average volume of 29,250. The company has a market cap of $169.74 million, a price-to-earnings ratio of 11.37, a price-to-earnings-growth ratio of 1.61 and a beta of 0.53. The company has a current ratio of 3.07, a quick ratio of 0.90 and a debt-to-equity ratio of 0.12. The firm has a 50-day moving average price of $36.53 and a two-hundred day moving average price of $26.97. Flexsteel Industries has a twelve month low of $15.67 and a twelve month high of $41.64.

Flexsteel Industries (NASDAQ:FLXS) last announced its quarterly earnings results on Monday, February 5th. The company reported $0.57 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.57. The company had revenue of $100.11 million during the quarter, compared to the consensus estimate of $100.09 million. Flexsteel Industries had a return on equity of 5.13% and a net margin of 3.86%. On average, equities analysts predict that Flexsteel Industries will post 1.95 earnings per share for the current year.

Institutional Trading of Flexsteel Industries

Several institutional investors and hedge funds have recently made changes to their positions in FLXS. Barclays PLC purchased a new stake in shares of Flexsteel Industries in the 3rd quarter valued at about $40,000. Victory Capital Management Inc. acquired a new position in Flexsteel Industries in the 4th quarter valued at about $92,000. Denali Advisors LLC acquired a new position in Flexsteel Industries in the 1st quarter valued at about $127,000. Weitzel Financial Services Inc. acquired a new position in Flexsteel Industries in the 1st quarter valued at about $264,000. Finally, Marion Wealth Management increased its position in Flexsteel Industries by 7.1% in the 1st quarter. Marion Wealth Management now owns 29,837 shares of the company’s stock valued at $1,113,000 after acquiring an additional 1,979 shares during the period. 36.27% of the stock is owned by hedge funds and other institutional investors.

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.