Flexsteel Industries, Inc. (FLXS) Posts Earnings Results
Flexsteel Industries, Inc. (NASDAQ:FLXS) announced its earnings results on Tuesday. The company reported $0.76 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.87 by $0.11, Morningstar.com reports. Flexsteel Industries had a net margin of 5.05% and a return on equity of 11.03%. The business had revenue of $117.43 million during the quarter.
Shares of Flexsteel Industries (NASDAQ:FLXS) traded down 3.84% during trading on Wednesday, hitting $52.05. The company’s stock had a trading volume of 11,616 shares. The firm’s 50 day moving average is $55.45 and its 200-day moving average is $52.42. Flexsteel Industries has a 1-year low of $39.98 and a 1-year high of $62.99. The company has a market capitalization of $406.77 million, a P/E ratio of 17.07 and a beta of 1.97.
A number of hedge funds have recently made changes to their positions in the stock. GSA Capital Partners LLP acquired a new stake in shares of Flexsteel Industries during the second quarter valued at $414,000. Nationwide Fund Advisors increased its stake in shares of Flexsteel Industries by 1.2% in the second quarter. Nationwide Fund Advisors now owns 41,308 shares of the company’s stock valued at $2,235,000 after buying an additional 502 shares during the last quarter. TIAA CREF Investment Management LLC increased its stake in shares of Flexsteel Industries by 26.1% in the second quarter. TIAA CREF Investment Management LLC now owns 20,673 shares of the company’s stock valued at $1,119,000 after buying an additional 4,281 shares during the last quarter. Teachers Advisors LLC increased its stake in shares of Flexsteel Industries by 14.5% in the second quarter. Teachers Advisors LLC now owns 14,589 shares of the company’s stock valued at $789,000 after buying an additional 1,846 shares during the last quarter. Finally, WBI Investments Inc. acquired a new stake in shares of Flexsteel Industries during the second quarter valued at $333,000. Hedge funds and other institutional investors own 65.53% of the company’s stock.
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Separately, BidaskClub lowered Flexsteel Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, July 19th.
About Flexsteel Industries
Flexsteel Industries, Inc is a manufacturer, importer, marketer and distributor of residential and commercial upholstered and wood furniture products in the United States. The Company offers its products for contract under categories, such as hospitality, healthcare, senior living, government and commercial office.
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