Flex Ltd (NASDAQ:FLEX) Receives Consensus Rating of “Hold” from Brokerages

Shares of Flex Ltd (NASDAQ:FLEX) have earned a consensus recommendation of “Hold” from the nine ratings firms that are covering the stock, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $10.67.

FLEX has been the subject of several recent research reports. Goldman Sachs Group raised Exelon from a “neutral” rating to a “buy” rating and increased their price target for the stock from $48.00 to $52.00 in a report on Thursday, June 6th. ValuEngine cut Zumiez from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Zacks Investment Research cut GENEL ENERGY PL/ADR from a “buy” rating to a “hold” rating in a research report on Tuesday, May 7th. JPMorgan Chase & Co. cut Sampo Oyj from an “overweight” rating to a “neutral” rating in a research report on Wednesday, May 29th. Finally, BidaskClub cut Walgreens Boots Alliance from a “sell” rating to a “strong sell” rating in a research report on Monday, June 24th.

In other Flex news, President Douglas Britt sold 10,313 shares of the stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $9.61, for a total value of $99,107.93. Following the completion of the transaction, the president now owns 681,494 shares in the company, valued at $6,549,157.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Christopher Collier sold 12,890 shares of the stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $9.61, for a total value of $123,872.90. Following the completion of the transaction, the chief financial officer now owns 1,118,171 shares of the company’s stock, valued at approximately $10,745,623.31. The disclosure for this sale can be found here. Insiders sold 157,902 shares of company stock valued at $1,487,783 in the last quarter. 0.42% of the stock is currently owned by company insiders.

Hedge funds have recently made changes to their positions in the company. Front Row Advisors LLC increased its position in shares of Flex by 646.9% in the first quarter. Front Row Advisors LLC now owns 2,547 shares of the technology company’s stock valued at $25,000 after buying an additional 2,206 shares in the last quarter. Willingdon Wealth Management purchased a new position in shares of Flex in the first quarter valued at $27,000. New Jersey Better Educational Savings Trust purchased a new position in shares of Flex in the first quarter valued at $100,000. Cornerstone Advisory LLC purchased a new position in shares of Flex in the first quarter valued at $103,000. Finally, Hsbc Holdings PLC purchased a new position in shares of Flex in the fourth quarter valued at $133,000. Institutional investors and hedge funds own 94.48% of the company’s stock.

Shares of NASDAQ FLEX traded down $0.07 during mid-day trading on Tuesday, hitting $9.78. 3,093,469 shares of the company were exchanged, compared to its average volume of 4,516,975. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.71 and a current ratio of 1.20. The business’s 50 day moving average is $9.51. Flex has a 1-year low of $6.74 and a 1-year high of $15.38. The company has a market capitalization of $5.03 billion, a price-to-earnings ratio of 54.33, a price-to-earnings-growth ratio of 0.61 and a beta of 1.80.

Flex (NASDAQ:FLEX) last issued its quarterly earnings results on Tuesday, April 30th. The technology company reported $0.27 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.27. Flex had a return on equity of 3.03% and a net margin of 0.36%. The firm had revenue of $6.20 billion during the quarter, compared to the consensus estimate of $6.41 billion. During the same period last year, the company earned $0.28 earnings per share. The company’s revenue for the quarter was down 3.3% on a year-over-year basis. On average, equities analysts anticipate that Flex will post 0.98 EPS for the current year.

About Flex

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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