Flexsteel Industries (NASDAQ:FLXS) Downgraded by StockNews.com to “Hold”

Flexsteel Industries (NASDAQ:FLXS) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.

Separately, TheStreet raised Flexsteel Industries from a “c” rating to a “b-” rating in a research note on Monday, February 5th.

Flexsteel Industries Trading Down 0.2 %

NASDAQ:FLXS opened at $37.42 on Wednesday. Flexsteel Industries has a 12-month low of $15.67 and a 12-month high of $41.64. The firm has a market capitalization of $192.71 million, a P/E ratio of 12.90, a P/E/G ratio of 1.65 and a beta of 0.53. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.07 and a quick ratio of 0.90. The business has a 50 day simple moving average of $35.92 and a 200 day simple moving average of $25.89.

Flexsteel Industries (NASDAQ:FLXS) last announced its earnings results on Monday, February 5th. The company reported $0.57 earnings per share for the quarter, meeting the consensus estimate of $0.57. The firm had revenue of $100.11 million for the quarter, compared to the consensus estimate of $100.09 million. Flexsteel Industries had a return on equity of 5.13% and a net margin of 3.86%. Equities research analysts predict that Flexsteel Industries will post 1.95 EPS for the current year.

Institutional Trading of Flexsteel Industries

A number of hedge funds and other institutional investors have recently modified their holdings of FLXS. Ancora Advisors LLC raised its position in shares of Flexsteel Industries by 2.5% during the first quarter. Ancora Advisors LLC now owns 24,249 shares of the company’s stock worth $845,000 after purchasing an additional 593 shares during the period. Bank of New York Mellon Corp raised its position in shares of Flexsteel Industries by 2.8% during the third quarter. Bank of New York Mellon Corp now owns 25,620 shares of the company’s stock worth $403,000 after purchasing an additional 693 shares during the period. UBS Group AG raised its position in shares of Flexsteel Industries by 90.7% during the third quarter. UBS Group AG now owns 2,090 shares of the company’s stock worth $33,000 after purchasing an additional 994 shares during the period. BNP Paribas Arbitrage SA raised its position in shares of Flexsteel Industries by 109.6% during the second quarter. BNP Paribas Arbitrage SA now owns 2,257 shares of the company’s stock worth $41,000 after purchasing an additional 1,180 shares during the period. Finally, Marion Wealth Management grew its holdings in shares of Flexsteel Industries by 4.4% during the third quarter. Marion Wealth Management now owns 27,858 shares of the company’s stock valued at $578,000 after buying an additional 1,184 shares in the last quarter. Institutional investors own 36.27% of the company’s stock.

About Flexsteel Industries

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.