Flexsteel Industries (NASDAQ:FLXS – Get Free Report) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Wednesday.
Separately, TheStreet upgraded shares of Flexsteel Industries from a “c” rating to a “b-” rating in a research note on Monday, February 5th.
Get Our Latest Research Report on Flexsteel Industries
Flexsteel Industries Price Performance
Flexsteel Industries (NASDAQ:FLXS – Get Free Report) last issued its quarterly earnings data on Monday, February 5th. The company reported $0.57 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.57. Flexsteel Industries had a net margin of 3.86% and a return on equity of 5.13%. The business had revenue of $100.11 million during the quarter, compared to analysts’ expectations of $100.09 million. As a group, equities analysts predict that Flexsteel Industries will post 1.95 earnings per share for the current fiscal year.
Institutional Trading of Flexsteel Industries
Hedge funds and other institutional investors have recently made changes to their positions in the business. Barclays PLC bought a new stake in shares of Flexsteel Industries in the third quarter valued at about $40,000. UBS Group AG increased its stake in shares of Flexsteel Industries by 90.7% in the 3rd quarter. UBS Group AG now owns 2,090 shares of the company’s stock valued at $33,000 after acquiring an additional 994 shares in the last quarter. BNP Paribas Arbitrage SA increased its stake in Flexsteel Industries by 109.6% in the second quarter. BNP Paribas Arbitrage SA now owns 2,257 shares of the company’s stock valued at $41,000 after purchasing an additional 1,180 shares in the last quarter. Victory Capital Management Inc. acquired a new position in shares of Flexsteel Industries during the fourth quarter valued at about $92,000. Finally, Bank of America Corp DE grew its holdings in shares of Flexsteel Industries by 49.4% during the first quarter. Bank of America Corp DE now owns 5,659 shares of the company’s stock valued at $109,000 after buying an additional 1,871 shares during the last quarter. 36.27% of the stock is currently owned by institutional investors and hedge funds.
Flexsteel Industries Company Profile
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.
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