Flexsteel Industries (NASDAQ:FLXS) Share Price Crosses Below 200-Day Moving Average – What’s Next?

Shares of Flexsteel Industries, Inc. (NASDAQ:FLXS) crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $40.35 and traded as low as $40.15. Flexsteel Industries shares last traded at $42.15, with a volume of 18,574 shares traded.

Analyst Ratings Changes

A number of brokerages have commented on FLXS. Zacks Research upgraded Flexsteel Industries from a “strong sell” rating to a “hold” rating in a research report on Monday, December 15th. Wall Street Zen lowered Flexsteel Industries from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 18th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Flexsteel Industries in a research report on Monday, December 29th. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has a consensus rating of “Hold”.

Flexsteel Industries Trading Up 5.7%

The company has a market capitalization of $225.08 million, a P/E ratio of 10.26, a PEG ratio of 0.94 and a beta of 0.51. The business has a 50 day moving average price of $39.92 and a 200 day moving average price of $40.35.

Flexsteel Industries (NASDAQ:FLXS) last released its quarterly earnings data on Monday, October 20th. The company reported $1.31 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.53. The business had revenue of $110.44 million for the quarter, compared to analyst estimates of $105.38 million. Flexsteel Industries had a net margin of 5.22% and a return on equity of 16.28%. During the same quarter last year, the firm earned $0.74 EPS. On average, analysts forecast that Flexsteel Industries, Inc. will post 3.53 EPS for the current fiscal year.

Flexsteel Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 8th. Stockholders of record on Monday, December 29th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend was Monday, December 29th. Flexsteel Industries’s dividend payout ratio (DPR) is currently 19.46%.

Institutional Investors Weigh In On Flexsteel Industries

Several large investors have recently modified their holdings of FLXS. AQR Capital Management LLC acquired a new stake in shares of Flexsteel Industries during the first quarter worth about $221,000. Jones Financial Companies Lllp increased its stake in Flexsteel Industries by 5,214.0% during the 1st quarter. Jones Financial Companies Lllp now owns 2,657 shares of the company’s stock worth $97,000 after purchasing an additional 2,607 shares in the last quarter. Empowered Funds LLC lifted its stake in Flexsteel Industries by 7.0% in the first quarter. Empowered Funds LLC now owns 24,749 shares of the company’s stock valued at $904,000 after buying an additional 1,622 shares in the last quarter. Strs Ohio acquired a new position in shares of Flexsteel Industries in the first quarter valued at approximately $340,000. Finally, Rhumbline Advisers increased its position in shares of Flexsteel Industries by 7.8% during the first quarter. Rhumbline Advisers now owns 7,788 shares of the company’s stock worth $284,000 after acquiring an additional 565 shares in the last quarter. 36.27% of the stock is currently owned by institutional investors.

Flexsteel Industries Company Profile

Flexsteel Industries, Inc (NASDAQ: FLXS) is a U.S.-based furniture manufacturer specializing in the design, production, and marketing of residential upholstered furniture and wood casegoods. The company operates through two primary segments: Upholstery, which encompasses seating products such as sofas, loveseats, chairs, recliners, and sectionals; and Casegoods, which includes accent and occasional tables, cabinets, bookcases, and other wood-based furnishings. Flexsteel sells its products through a network of independent retailers, furniture stores, and distributors across North America.

Flexsteel’s upholstery segment is distinguished by its patented Blue Steel Spring® technology, which offers enhanced longevity and comfort by replacing conventional webbing and springs with a welded steel seat suspension.