Flexsteel Industries (NASDAQ:FLXS) Stock Price Crosses Above 200-Day Moving Average – What’s Next?

Flexsteel Industries, Inc. (NASDAQ:FLXS)’s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $43.12 and traded as high as $54.95. Flexsteel Industries shares last traded at $52.78, with a volume of 72,931 shares trading hands.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on FLXS shares. Weiss Ratings reiterated a “hold (c+)” rating on shares of Flexsteel Industries in a research report on Monday, December 29th. Zacks Research raised Flexsteel Industries from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 5th. Finally, Wall Street Zen upgraded Flexsteel Industries from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 7th. One analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy”.

Flexsteel Industries Stock Down 2.1%

The stock’s 50 day moving average price is $46.24 and its two-hundred day moving average price is $43.22. The firm has a market capitalization of $251.50 million, a price-to-earnings ratio of 9.57, a P/E/G ratio of 0.98 and a beta of 0.47.

Flexsteel Industries (NASDAQ:FLXS) last issued its earnings results on Monday, February 2nd. The company reported $1.18 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.39. Flexsteel Industries had a return on equity of 16.67% and a net margin of 4.58%.The firm had revenue of $118.25 million for the quarter, compared to the consensus estimate of $107.51 million. On average, equities analysts expect that Flexsteel Industries, Inc. will post 3.53 EPS for the current fiscal year.

Flexsteel Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 8th. Investors of record on Monday, December 29th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend was Monday, December 29th. Flexsteel Industries’s dividend payout ratio (DPR) is presently 21.80%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. LSV Asset Management raised its holdings in Flexsteel Industries by 102.1% during the third quarter. LSV Asset Management now owns 37,800 shares of the company’s stock valued at $1,752,000 after buying an additional 19,100 shares in the last quarter. Acadian Asset Management LLC increased its holdings in shares of Flexsteel Industries by 16.2% during the 2nd quarter. Acadian Asset Management LLC now owns 59,971 shares of the company’s stock valued at $2,159,000 after acquiring an additional 8,366 shares during the last quarter. Los Angeles Capital Management LLC increased its holdings in shares of Flexsteel Industries by 12.7% during the 2nd quarter. Los Angeles Capital Management LLC now owns 42,939 shares of the company’s stock valued at $1,547,000 after acquiring an additional 4,840 shares during the last quarter. SummerHaven Investment Management LLC bought a new position in shares of Flexsteel Industries in the 3rd quarter valued at approximately $991,000. Finally, Inspire Investing LLC acquired a new stake in Flexsteel Industries in the 3rd quarter worth approximately $955,000. Institutional investors and hedge funds own 36.27% of the company’s stock.

Flexsteel Industries Company Profile

Flexsteel Industries, Inc (NASDAQ: FLXS) is a U.S.-based furniture manufacturer specializing in the design, production, and marketing of residential upholstered furniture and wood casegoods. The company operates through two primary segments: Upholstery, which encompasses seating products such as sofas, loveseats, chairs, recliners, and sectionals; and Casegoods, which includes accent and occasional tables, cabinets, bookcases, and other wood-based furnishings. Flexsteel sells its products through a network of independent retailers, furniture stores, and distributors across North America.

Flexsteel’s upholstery segment is distinguished by its patented Blue Steel Spring® technology, which offers enhanced longevity and comfort by replacing conventional webbing and springs with a welded steel seat suspension.