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

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

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

Flexsteel Industries Stock Down 15.6 %

NASDAQ FLXS traded down $6.07 during trading hours on Tuesday, hitting $32.96. The company had a trading volume of 36,121 shares, compared to its average volume of 29,250. Flexsteel Industries has a fifty-two week low of $15.67 and a fifty-two week high of $41.64. The company has a market capitalization of $169.74 million, a price-to-earnings ratio of 11.37, a P/E/G ratio of 1.61 and a beta of 0.53. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.07 and a quick ratio of 0.90. The firm’s 50 day moving average is $36.53 and its 200 day moving average is $26.97.

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, 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 the consensus estimate of $100.09 million. Sell-side analysts anticipate that Flexsteel Industries will post 1.95 earnings per share for the current fiscal year.

Institutional Trading of Flexsteel Industries

Large investors have recently modified their holdings of the business. Barclays PLC acquired a new stake in shares of Flexsteel Industries during the third quarter valued at about $40,000. Victory Capital Management Inc. bought a new position in shares of Flexsteel Industries during the fourth quarter worth about $92,000. Denali Advisors LLC bought a new position in shares of Flexsteel Industries during the first quarter worth about $127,000. Weitzel Financial Services Inc. bought a new position in shares of Flexsteel Industries during the first quarter worth about $264,000. Finally, Marion Wealth Management lifted its position in shares of Flexsteel Industries by 7.1% during 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. 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.