Flexsteel Industries (NASDAQ:FLXS) Upgraded at StockNews.com

StockNews.com upgraded shares of Flexsteel Industries (NASDAQ:FLXS) from a hold rating to a buy rating in a report released on Tuesday morning.

Separately, TheStreet raised shares of Flexsteel Industries from a c rating to a b- rating in a research report on Monday, February 5th.

Flexsteel Industries Price Performance

FLXS stock opened at $37.53 on Tuesday. The firm has a market cap of $193.28 million, a P/E ratio of 12.72, a P/E/G ratio of 1.43 and a beta of 0.58. The company has a quick ratio of 0.90, a current ratio of 3.07 and a debt-to-equity ratio of 0.12. The company’s 50-day moving average price is $36.72 and its two-hundred day moving average price is $27.22. Flexsteel Industries has a 12 month low of $15.67 and a 12 month high of $41.64.

Flexsteel Industries (NASDAQ:FLXS) last posted its earnings results on Monday, February 5th. The company reported $0.57 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.57. Flexsteel Industries had a net margin of 3.87% and a return on equity of 6.57%. The firm had revenue of $100.11 million for the quarter, compared to analyst estimates of $100.09 million. On average, analysts anticipate that Flexsteel Industries will post 2.09 earnings per share for the current fiscal year.

Flexsteel Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 4th. Stockholders of record on Tuesday, March 26th were paid a $0.15 dividend. The ex-dividend date of this dividend was Monday, March 25th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.60%. Flexsteel Industries’s payout ratio is presently 20.34%.

Hedge Funds Weigh In On Flexsteel Industries

Several institutional investors have recently bought and sold shares of the company. Denali Advisors LLC bought a new position in shares of Flexsteel Industries in the first quarter worth $127,000. Weitzel Financial Services Inc. purchased a new stake in shares of Flexsteel Industries during the first quarter worth about $264,000. Marion Wealth Management lifted its holdings in Flexsteel Industries by 7.1% in the first quarter. Marion Wealth Management now owns 29,837 shares of the company’s stock worth $1,113,000 after buying an additional 1,979 shares during the period. Victory Capital Management Inc. purchased a new stake in Flexsteel Industries in the fourth quarter worth about $92,000. Finally, Barclays PLC bought a new position in shares of Flexsteel Industries during the third quarter valued at approximately $40,000. Hedge funds and other 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.