Flexsteel Industries (NASDAQ:FLXS) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Flexsteel Industries (NASDAQ:FLXS) from a buy rating to a strong-buy rating in a research note issued to investors on Saturday morning.

FLXS has been the topic of several other reports. Zacks Research raised shares of Flexsteel Industries from a “strong sell” rating to a “hold” rating in a research report on Monday, December 15th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Flexsteel Industries in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy”.

Flexsteel Industries Stock Down 1.0%

NASDAQ:FLXS opened at $57.00 on Friday. The company has a market capitalization of $304.95 million, a PE ratio of 15.53, a P/E/G ratio of 1.17 and a beta of 0.51. Flexsteel Industries has a 52-week low of $29.38 and a 52-week high of $59.95. The stock’s 50 day moving average price is $41.62 and its 200 day moving average price is $40.88.

Flexsteel Industries (NASDAQ:FLXS) last issued its quarterly earnings data on Monday, February 2nd. The company reported $1.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.39. The company had revenue of $118.25 million during the quarter, compared to analysts’ expectations of $107.51 million. Flexsteel Industries had a return on equity of 16.67% and a net margin of 4.58%. As a group, sell-side analysts anticipate that Flexsteel Industries will post 3.53 EPS for the current fiscal year.

Flexsteel Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 8th. Shareholders of record on Monday, December 29th were given a dividend of $0.20 per share. The ex-dividend date was Monday, December 29th. This represents a $0.80 dividend on an annualized basis and a yield of 1.4%. Flexsteel Industries’s dividend payout ratio is presently 21.80%.

Institutional Trading of Flexsteel Industries

Hedge funds and other institutional investors have recently made changes to their positions in the company. IFP Advisors Inc raised its holdings in Flexsteel Industries by 2,200.0% during the third quarter. IFP Advisors Inc now owns 621 shares of the company’s stock worth $29,000 after purchasing an additional 594 shares in the last quarter. State of Alaska Department of Revenue acquired a new position in Flexsteel Industries during the 4th quarter worth approximately $38,000. BNP Paribas Financial Markets increased its position in Flexsteel Industries by 149.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 971 shares of the company’s stock worth $45,000 after purchasing an additional 582 shares during the period. Farther Finance Advisors LLC purchased a new position in shares of Flexsteel Industries during the 4th quarter worth approximately $49,000. Finally, Copeland Capital Management LLC acquired a new stake in shares of Flexsteel Industries in the 4th quarter valued at approximately $59,000. Hedge funds and other institutional investors 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.