Flex (FLEX) Projected to Post Earnings on Wednesday

Flex (NASDAQ:FLEX) is anticipated to issue its quarterly earnings data before the market opens on Wednesday, January 29th. Analysts expect the company to announce earnings of $0.63 per share and revenue of $6,204,635.76 billion for the quarter. Investors that are interested in registering for the company’s conference call can do so using this link.

Flex Trading Down 12.2 %

NASDAQ:FLEX opened at $38.85 on Tuesday. The stock has a fifty day moving average price of $39.79 and a 200 day moving average price of $35.12. The company has a current ratio of 1.43, a quick ratio of 0.85 and a debt-to-equity ratio of 0.64. Flex has a 12-month low of $22.57 and a 12-month high of $45.10. The firm has a market cap of $15.07 billion, a PE ratio of 17.19, a price-to-earnings-growth ratio of 2.81 and a beta of 1.10.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Barclays upped their target price on shares of Flex from $39.00 to $43.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. The Goldman Sachs Group set a $39.00 price objective on shares of Flex in a research report on Thursday, October 17th. Craig Hallum lifted their price objective on shares of Flex from $39.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. KeyCorp began coverage on Flex in a research note on Tuesday, October 22nd. They issued an “overweight” rating and a $41.00 price target on the stock. Finally, StockNews.com upgraded shares of Flex from a “hold” rating to a “buy” rating in a report on Friday. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $42.67.

Insider Buying and Selling

In other Flex news, Director Charles K. Stevens III sold 13,157 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $38.69, for a total transaction of $509,044.33. Following the transaction, the director now directly owns 55,713 shares in the company, valued at approximately $2,155,535.97. This represents a 19.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.82% of the stock is currently owned by corporate insiders.

Flex Company Profile

Flex Ltd. provides technology, supply chain, and manufacturing solutions in Asia, the Americas, and Europe. It operates through three segments: Flex Agility Solutions (FAS), Flex Reliability Solutions (FRS), and Nextracker. The FAS segment offers flexible supply and manufacturing system comprising communications, enterprise and cloud solution, which includes data, edge, and communications infrastructure; lifestyle solution including appliances, consumer packaging, floorcare, micro mobility, and audio; and consumer devices, such as mobile and high velocity consumer devices.