Flexsteel Industries (FLXS) Downgraded by BidaskClub
BidaskClub lowered shares of Flexsteel Industries (NASDAQ:FLXS) from a sell rating to a strong sell rating in a research note issued to investors on Saturday.
NASDAQ FLXS opened at $32.31 on Friday. Flexsteel Industries has a twelve month low of $32.10 and a twelve month high of $53.00. The stock has a market cap of $259.78 million, a P/E ratio of 14.60 and a beta of 1.80.
Flexsteel Industries (NASDAQ:FLXS) last released its earnings results on Thursday, August 23rd. The company reported $0.28 earnings per share for the quarter. Flexsteel Industries had a return on equity of 7.48% and a net margin of 4.15%. The firm had revenue of $113.09 million for the quarter.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp lifted its position in Flexsteel Industries by 2.4% during the second quarter. Bank of New York Mellon Corp now owns 65,457 shares of the company’s stock worth $2,612,000 after buying an additional 1,552 shares during the period. California Public Employees Retirement System raised its holdings in shares of Flexsteel Industries by 9.5% in the 2nd quarter. California Public Employees Retirement System now owns 17,198 shares of the company’s stock worth $686,000 after purchasing an additional 1,498 shares during the period. Renaissance Technologies LLC raised its holdings in shares of Flexsteel Industries by 3.7% in the 2nd quarter. Renaissance Technologies LLC now owns 91,400 shares of the company’s stock worth $3,647,000 after purchasing an additional 3,300 shares during the period. BlackRock Inc. raised its holdings in shares of Flexsteel Industries by 3.1% in the 2nd quarter. BlackRock Inc. now owns 492,768 shares of the company’s stock worth $19,661,000 after purchasing an additional 14,703 shares during the period. Finally, North Star Investment Management Corp. raised its holdings in shares of Flexsteel Industries by 3.6% in the 2nd quarter. North Star Investment Management Corp. now owns 85,971 shares of the company’s stock worth $3,430,000 after purchasing an additional 3,000 shares during the period. Hedge funds and other institutional investors own 63.72% of the company’s stock.
Flexsteel Industries Company Profile
Flexsteel Industries, Inc, together with its subsidiaries, manufactures, imports, and markets residential and contract upholstered and wood furniture products in the United States. It offers sofas, loveseats, chairs, reclining and rocker-reclining chairs, swivel rockers, sofa beds, convertible bedding units, occasional tables, desks, dining tables and chairs, and bedroom furniture for use in home, office, hotel, healthcare, and other commercial applications.
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