Flex (NASDAQ:FLEX) Downgraded to “Strong Sell” at BidaskClub

Flex (NASDAQ:FLEX) was downgraded by research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research report issued to clients and investors on Friday, February 2nd.

A number of other equities research analysts have also recently commented on FLEX. ValuEngine upgraded Flex from a “hold” rating to a “buy” rating in a research note on Tuesday, January 30th. Stifel Nicolaus boosted their price objective on Flex from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Friday, January 26th. Bank of America upped their price target on Flex from $20.00 to $22.00 and gave the company a “buy” rating in a research report on Friday, January 26th. Needham & Company LLC upped their price target on Flex from $19.00 to $21.00 and gave the company a “buy” rating in a research report on Friday, January 26th. Finally, UBS Group reissued a “buy” rating and set a $21.50 price objective on shares of Flex in a report on Tuesday, December 19th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $20.56.

Flex (NASDAQ:FLEX) opened at $16.73 on Friday. The company has a quick ratio of 0.72, a current ratio of 1.22 and a debt-to-equity ratio of 0.97. Flex has a fifty-two week low of $14.70 and a fifty-two week high of $19.71. The stock has a market cap of $8,827.83, a P/E ratio of 16.90, a P/E/G ratio of 0.92 and a beta of 0.80.

Flex (NASDAQ:FLEX) last announced its quarterly earnings data on Thursday, January 25th. The technology company reported $0.31 EPS for the quarter, hitting the consensus estimate of $0.31. The company had revenue of $6.75 billion during the quarter, compared to the consensus estimate of $6.50 billion. Flex had a net margin of 2.15% and a return on equity of 20.44%. The company’s quarterly revenue was up 10.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.34 EPS. equities analysts expect that Flex will post 1.08 earnings per share for the current year.

In other Flex news, Director William D. Watkins sold 9,000 shares of the firm’s stock in a transaction dated Thursday, December 7th. The stock was sold at an average price of $17.73, for a total value of $159,570.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP David Scott Offer sold 45,000 shares of the firm’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $17.71, for a total value of $796,950.00. The disclosure for this sale can be found here. Insiders have sold 67,597 shares of company stock worth $1,200,042 over the last ninety days. 0.83% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. First Personal Financial Services raised its stake in Flex by 227.4% during the 4th quarter. First Personal Financial Services now owns 8,974 shares of the technology company’s stock valued at $161,000 after purchasing an additional 6,233 shares during the period. CIBC World Markets Inc. bought a new stake in Flex during the 4th quarter valued at approximately $196,000. Quantitative Systematic Strategies LLC bought a new stake in Flex in the 4th quarter worth approximately $236,000. Capital Fund Management S.A. bought a new stake in Flex in the 4th quarter worth approximately $240,000. Finally, Woodmont Investment Counsel LLC bought a new stake in Flex in the 3rd quarter worth approximately $244,000. 95.07% of the stock is currently owned by institutional investors.

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Flex Company Profile

Flex Ltd, formerly Flextronics International Ltd. provides design, engineering, manufacturing, and supply chain services and solutions. The Company designs, builds, ships and services packaged consumer electronics and industrial products for original equipment manufacturers (OEMs). Its segments include High Reliability Solutions (HRS), Consumer Technologies Group (CTG), Industrial and Emerging Industries (IEI) and Communications & Enterprise Compute (CEC).

Analyst Recommendations for Flex (NASDAQ:FLEX)

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