Flexsteel Industries (FLXS) Rating Lowered to Strong Sell at BidaskClub

Flexsteel Industries (NASDAQ:FLXS) was downgraded by BidaskClub from a “sell” rating to a “strong sell” rating in a research report issued on Wednesday, January 31st.

Shares of Flexsteel Industries (NASDAQ:FLXS) opened at $39.76 on Wednesday. Flexsteel Industries has a one year low of $37.53 and a one year high of $57.79. The firm has a market cap of $312.21, a PE ratio of 12.12 and a beta of 1.86.

Flexsteel Industries (NASDAQ:FLXS) last issued its quarterly earnings data on Thursday, January 25th. The company reported $0.62 earnings per share for the quarter. Flexsteel Industries had a net margin of 5.34% and a return on equity of 10.17%. The business had revenue of $129.39 million for the quarter.

In related news, Director Jeffrey T. Bertsch sold 1,510 shares of Flexsteel Industries stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $50.00, for a total transaction of $75,500.00. Following the sale, the director now directly owns 195,659 shares in the company, valued at $9,782,950. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 6.00% of the stock is owned by insiders.

Large investors have recently added to or reduced their stakes in the stock. Brandywine Global Investment Management LLC acquired a new position in Flexsteel Industries during the fourth quarter worth about $141,000. MetLife Investment Advisors LLC acquired a new position in Flexsteel Industries during the fourth quarter worth about $141,000. Advisor Group Inc. grew its holdings in Flexsteel Industries by 1,119.1% during the third quarter. Advisor Group Inc. now owns 4,023 shares of the company’s stock worth $204,000 after acquiring an additional 3,693 shares during the period. Jefferies Group LLC acquired a new position in Flexsteel Industries during the fourth quarter worth about $211,000. Finally, The Manufacturers Life Insurance Company grew its holdings in Flexsteel Industries by 22.6% during the second quarter. The Manufacturers Life Insurance Company now owns 6,519 shares of the company’s stock worth $352,000 after acquiring an additional 1,201 shares during the period. 65.26% of the stock is currently owned by hedge funds and other institutional investors.

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Flexsteel Industries Company Profile

Flexsteel Industries, Inc is a manufacturer, importer, marketer and distributor of residential and commercial upholstered and wood furniture products in the United States. The Company offers its products for contract under categories, such as hospitality, healthcare, senior living, government and commercial office.

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