BidaskClub downgraded shares of Flexsteel Industries (NASDAQ:FLXS) from a sell rating to a strong sell rating in a report issued on Saturday morning.
Shares of FLXS opened at $33.00 on Friday. Flexsteel Industries has a fifty-two week low of $32.64 and a fifty-two week high of $53.00. The company has a market capitalization of $258.21 million, a PE ratio of 14.51 and a beta of 1.79.
Flexsteel Industries (NASDAQ:FLXS) last announced its quarterly earnings results on Thursday, August 23rd. The company reported $0.28 earnings per share for the quarter. Flexsteel Industries had a net margin of 4.15% and a return on equity of 7.48%. The firm had revenue of $113.09 million during the quarter.
Several institutional investors and hedge funds have recently made changes to their positions in FLXS. Ladenburg Thalmann Financial Services Inc. lifted its position in shares of Flexsteel Industries by 28.0% in the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 6,397 shares of the company’s stock worth $253,000 after purchasing an additional 1,400 shares during the period. Quad Cities Investment Group LLC purchased a new stake in shares of Flexsteel Industries in the 1st quarter worth approximately $288,000. Victory Capital Management Inc. purchased a new stake in shares of Flexsteel Industries in the 1st quarter worth approximately $667,000. California Public Employees Retirement System lifted its position in shares of Flexsteel Industries by 9.5% in the 2nd quarter. California Public Employees Retirement System now owns 17,198 shares of the company’s stock worth $686,000 after purchasing an additional 1,498 shares during the period. Finally, First Republic Investment Management Inc. purchased a new stake in shares of Flexsteel Industries in the 1st quarter worth approximately $784,000. 63.88% of the stock is owned by hedge funds and other institutional investors.
About Flexsteel Industries
Flexsteel Industries, Inc, together with its subsidiaries, manufactures, imports, and markets residential and contract upholstered and wood furniture products in the United States. It offers sofas, loveseats, chairs, reclining and rocker-reclining chairs, swivel rockers, sofa beds, convertible bedding units, occasional tables, desks, dining tables and chairs, and bedroom furniture for use in home, office, hotel, healthcare, and other commercial applications.
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