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 report released on Wednesday morning.

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

Flexsteel Industries Price Performance

NASDAQ:FLXS opened at $36.41 on Wednesday. Flexsteel Industries has a 52-week low of $15.67 and a 52-week high of $41.64. The company has a market cap of $187.73 million, a P/E ratio of 12.34, a P/E/G ratio of 1.50 and a beta of 0.58. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.99 and a current ratio of 2.79. The stock’s 50-day simple moving average is $36.84 and its 200 day simple moving average is $27.61.

Flexsteel Industries (NASDAQ:FLXS) last posted its quarterly earnings results on Monday, February 5th. The company reported $0.57 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.57. Flexsteel Industries had a return on equity of 6.54% and a net margin of 3.87%. The firm had revenue of $100.11 million during the quarter, compared to the consensus estimate of $100.09 million. As a group, sell-side analysts forecast that Flexsteel Industries will post 2.09 EPS for the current fiscal year.

Flexsteel Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, April 4th. Investors of record on Tuesday, March 26th were paid a $0.15 dividend. The ex-dividend date was Monday, March 25th. This represents a $0.60 annualized dividend and a yield of 1.65%. Flexsteel Industries’s dividend payout ratio (DPR) is currently 20.34%.

Hedge Funds Weigh In On Flexsteel Industries

Institutional investors have recently bought and sold shares of the business. Barclays PLC bought a new position in shares of Flexsteel Industries during the 3rd quarter worth approximately $40,000. Victory Capital Management Inc. bought a new position in Flexsteel Industries during the fourth quarter worth $92,000. Denali Advisors LLC acquired a new position in shares of Flexsteel Industries in the first quarter valued at $127,000. Weitzel Financial Services Inc. acquired a new position in shares of Flexsteel Industries in the first quarter valued at $264,000. Finally, Empowered Funds LLC raised its position in shares of Flexsteel Industries by 7.7% in the first quarter. Empowered Funds LLC now owns 19,536 shares of the company’s stock valued at $729,000 after purchasing an additional 1,400 shares during the period. Institutional investors and hedge funds own 36.27% of the company’s stock.

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.