Flex (NASDAQ:FLEX) Stock Rating Upgraded by BidaskClub

BidaskClub upgraded shares of Flex (NASDAQ:FLEX) from a strong sell rating to a sell rating in a report published on Thursday morning, BidAskClub reports.

Separately, Citigroup upped their price target on Flex from $13.00 to $15.00 and gave the company a buy rating in a research report on Friday, July 31st. One analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. Flex has a consensus rating of Hold and a consensus target price of $11.75.

Shares of NASDAQ FLEX opened at $11.18 on Thursday. The company has a quick ratio of 0.89, a current ratio of 1.41 and a debt-to-equity ratio of 1.35. The business’s 50 day moving average is $11.01 and its two-hundred day moving average is $9.91. The company has a market cap of $5.36 billion, a P/E ratio of 58.84, a P/E/G ratio of 1.84 and a beta of 1.76. Flex has a 12 month low of $5.36 and a 12 month high of $14.00.

Flex (NASDAQ:FLEX) last issued its quarterly earnings results on Thursday, July 30th. The technology company reported $0.23 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.17 by $0.06. The company had revenue of $5.15 billion for the quarter, compared to the consensus estimate of $5.01 billion. Flex had a return on equity of 3.29% and a net margin of 0.41%. Sell-side analysts expect that Flex will post 0.63 earnings per share for the current fiscal year.

In other Flex news, EVP David Scott Offer sold 6,659 shares of Flex stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $10.20, for a total transaction of $67,921.80. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Christopher Collier sold 12,085 shares of Flex stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $10.20, for a total value of $123,267.00. The disclosure for this sale can be found here. Insiders sold 30,937 shares of company stock worth $315,538 over the last three months. 0.56% of the stock is owned by insiders.

A number of institutional investors have recently bought and sold shares of the business. Evoke Wealth LLC acquired a new position in shares of Flex in the 2nd quarter valued at $28,000. Flagship Harbor Advisors LLC acquired a new position in Flex during the second quarter worth $41,000. Creative Financial Designs Inc. ADV acquired a new position in Flex during the second quarter worth $53,000. Engineers Gate Manager LP acquired a new position in Flex during the first quarter worth $90,000. Finally, Harvest Fund Management Co. Ltd acquired a new position in Flex during the first quarter worth $91,000. 95.47% of the stock is currently owned by institutional investors and hedge funds.

Flex Company Profile

Flex Ltd. provides design, engineering, manufacturing, and supply chain services and solutions to original equipment manufacturers worldwide. It operates through Communications & Enterprise Compute, Consumer Technologies Group, Industrial and Emerging Industries, and High Reliability Solutions segments.

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Analyst Recommendations for Flex (NASDAQ:FLEX)

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