BidaskClub Lowers Flexsteel Industries (FLXS) to Sell

BidaskClub cut shares of Flexsteel Industries (NASDAQ:FLXS) from a hold rating to a sell rating in a research report released on Friday morning.

Separately, ValuEngine lowered shares of Flexsteel Industries from a hold rating to a sell rating in a research report on Friday, April 27th.

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Flexsteel Industries opened at $37.39 on Friday, Marketbeat Ratings reports. Flexsteel Industries has a 52-week low of $34.74 and a 52-week high of $57.79. The firm has a market capitalization of $293.70 million, a PE ratio of 13.65 and a beta of 1.86.

Flexsteel Industries (NASDAQ:FLXS) last released its quarterly earnings data on Thursday, April 26th. The company reported $0.72 earnings per share (EPS) for the quarter. Flexsteel Industries had a net margin of 4.89% and a return on equity of 9.19%. The company had revenue of $126.86 million during the quarter.

Institutional investors have recently added to or reduced their stakes in the company. MetLife Investment Advisors LLC acquired a new stake in shares of Flexsteel Industries in the fourth quarter worth $141,000. Brandywine Global Investment Management LLC acquired a new stake in Flexsteel Industries during the 4th quarter valued at $141,000. Jefferies Group LLC acquired a new stake in Flexsteel Industries during the 4th quarter valued at $211,000. Stone Ridge Asset Management LLC acquired a new stake in Flexsteel Industries during the 4th quarter valued at $529,000. Finally, Two Sigma Investments LP grew its holdings in Flexsteel Industries by 27.4% during the 4th quarter. Two Sigma Investments LP now owns 12,388 shares of the company’s stock valued at $580,000 after purchasing an additional 2,663 shares in the last quarter. 65.17% of the stock is owned by institutional investors.

About Flexsteel Industries

Flexsteel Industries, Inc, together with its subsidiaries, manufactures, imports, and markets residential and contract upholstered and wood furniture products in the United States. It offers sofas, loveseats, chairs, reclining and rocker-reclining chairs, swivel rockers, sofa beds, convertible bedding units, occasional tables, desks, dining tables and chairs, and bedroom furniture for use in home, office, hotel, healthcare, and other commercial applications.