Flexsteel Industries (NASDAQ:FLXS) Upgraded to “Buy” by StockNews.com

StockNews.com upgraded shares of Flexsteel Industries (NASDAQ:FLXS) from a hold rating to a buy rating in a research note released on Tuesday.

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

Shares of NASDAQ:FLXS opened at $37.53 on Tuesday. The company has a market cap of $193.28 million, a P/E ratio of 12.72, a P/E/G ratio of 1.43 and a beta of 0.58. The company has a quick ratio of 0.90, a current ratio of 3.07 and a debt-to-equity ratio of 0.12. Flexsteel Industries has a 52 week low of $15.67 and a 52 week high of $41.64. The business has a fifty day simple moving average of $36.72 and a 200-day simple moving average of $27.22.

Flexsteel Industries (NASDAQ:FLXS) last announced 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. The company had revenue of $100.11 million for the quarter, compared to analyst estimates of $100.09 million. Flexsteel Industries had a net margin of 3.87% and a return on equity of 6.57%. Equities research analysts forecast that Flexsteel Industries will post 2.09 EPS for the current year.

Flexsteel Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 4th. Shareholders of record on Tuesday, March 26th were issued a $0.15 dividend. The ex-dividend date was Monday, March 25th. This represents a $0.60 dividend on an annualized basis and a yield of 1.60%. Flexsteel Industries’s dividend payout ratio is currently 20.34%.

Hedge Funds Weigh In On Flexsteel Industries

A number of institutional investors have recently added to or reduced their stakes in FLXS. Barclays PLC acquired a new position in Flexsteel Industries in the 3rd quarter worth $40,000. Victory Capital Management Inc. bought a new stake in shares of Flexsteel Industries in the 4th quarter worth about $92,000. Marion Wealth Management increased its position in shares of Flexsteel Industries by 7.1% in the 1st quarter. Marion Wealth Management now owns 29,837 shares of the company’s stock worth $1,113,000 after purchasing an additional 1,979 shares during the last quarter. Weitzel Financial Services Inc. bought a new stake in shares of Flexsteel Industries in the 1st quarter worth about $264,000. Finally, Denali Advisors LLC bought a new stake in shares of Flexsteel Industries in the 1st quarter worth about $127,000. 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.