Flexsteel Industries (NASDAQ:FLXS) Downgraded to “Hold” at StockNews.com

StockNews.com cut shares of Flexsteel Industries (NASDAQ:FLXS) from a buy rating to a hold rating in a research note published on Wednesday.

Separately, TheStreet raised shares of Flexsteel Industries from a c rating to a b- rating in a research report on Monday, February 5th.

Flexsteel Industries Stock Up 0.2 %

Shares of NASDAQ:FLXS opened at $37.49 on Wednesday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.90 and a current ratio of 3.07. Flexsteel Industries has a 52-week low of $15.67 and a 52-week high of $41.64. The firm has a market capitalization of $193.07 million, a P/E ratio of 12.93, a P/E/G ratio of 1.60 and a beta of 0.53. The stock has a 50 day moving average price of $35.98 and a 200-day moving average price of $26.01.

Flexsteel Industries (NASDAQ:FLXS) last posted its quarterly earnings data on Monday, February 5th. The company reported $0.57 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.57. Flexsteel Industries had a return on equity of 5.13% and a net margin of 3.86%. The business had revenue of $100.11 million during the quarter, compared to the consensus estimate of $100.09 million. As a group, equities research analysts anticipate that Flexsteel Industries will post 1.95 EPS for the current fiscal year.

Flexsteel Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 4th. Shareholders of record on Tuesday, March 26th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date was Monday, March 25th. Flexsteel Industries’s payout ratio is 20.69%.

Institutional Investors Weigh In On Flexsteel Industries

Institutional investors have recently modified their holdings of the stock. Denali Advisors LLC purchased a new position in shares of Flexsteel Industries in the 1st quarter worth about $127,000. Weitzel Financial Services Inc. bought a new stake in Flexsteel Industries during the 1st quarter valued at about $264,000. Marion Wealth Management raised its holdings in Flexsteel Industries by 7.1% in the first quarter. Marion Wealth Management now owns 29,837 shares of the company’s stock worth $1,113,000 after buying an additional 1,979 shares during the last quarter. Bridgeway Capital Management LLC raised its holdings in Flexsteel Industries by 2.9% in the fourth quarter. Bridgeway Capital Management LLC now owns 54,895 shares of the company’s stock worth $1,035,000 after buying an additional 1,536 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in shares of Flexsteel Industries by 22.3% in the fourth quarter. Northern Trust Corp now owns 24,450 shares of the company’s stock worth $461,000 after buying an additional 4,457 shares in the last quarter. 36.27% of the stock is owned by hedge funds and other institutional investors.

About Flexsteel Industries

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.