Omega Flex (NASDAQ:OFLX) Raised to “Strong-Buy” at BidaskClub

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Omega Flex (NASDAQ:OFLX) was upgraded by stock analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a research report issued on Wednesday, BidAskClub reports.

Shares of OFLX opened at $95.83 on Wednesday. The business’s 50-day moving average is $93.41 and its two-hundred day moving average is $86.55. The company has a market capitalization of $967.14 million, a P/E ratio of 54.75 and a beta of 0.75. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.37 and a current ratio of 3.90. Omega Flex has a fifty-two week low of $52.00 and a fifty-two week high of $102.65.

Omega Flex (NASDAQ:OFLX) last issued its quarterly earnings data on Thursday, October 17th. The industrial products company reported $0.33 earnings per share (EPS) for the quarter. Omega Flex had a return on equity of 25.66% and a net margin of 16.07%. The business had revenue of $28.03 million during the quarter.

A number of hedge funds have recently made changes to their positions in the stock. BlackRock Inc. lifted its holdings in Omega Flex by 12.2% in the second quarter. BlackRock Inc. now owns 188,131 shares of the industrial products company’s stock valued at $14,449,000 after acquiring an additional 20,506 shares during the period. Conestoga Capital Advisors LLC boosted its position in Omega Flex by 2,507.2% in the 3rd quarter. Conestoga Capital Advisors LLC now owns 109,371 shares of the industrial products company’s stock worth $11,183,000 after purchasing an additional 105,176 shares in the last quarter. State Street Corp grew its stake in shares of Omega Flex by 0.7% during the 3rd quarter. State Street Corp now owns 59,044 shares of the industrial products company’s stock worth $6,053,000 after purchasing an additional 388 shares during the period. Northern Trust Corp grew its stake in shares of Omega Flex by 1.6% during the 2nd quarter. Northern Trust Corp now owns 45,913 shares of the industrial products company’s stock worth $3,527,000 after purchasing an additional 745 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in shares of Omega Flex by 8.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 41,049 shares of the industrial products company’s stock valued at $3,154,000 after purchasing an additional 3,277 shares in the last quarter. Institutional investors own 32.21% of the company’s stock.

Omega Flex Company Profile

Omega Flex, Inc, together with its subsidiaries, manufactures and sells flexible metal hoses and accessories in the United States and internationally. It offers flexible gas piping for use in residential and commercial buildings, as well as its fittings; and corrugated medical tubing for use in hospitals, ambulatory care centers, dental, physician and veterinary clinics, laboratories, and other facilities.

Further Reading: Dow Jones Industrial Average (DJIA)

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