Flex Ltd (FLEX) Given Average Recommendation of “Buy” by Analysts
Shares of Flex Ltd (NASDAQ:FLEX) have earned an average recommendation of “Buy” from the thirteen analysts that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and nine have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $19.75.
Several equities analysts have recently commented on FLEX shares. BidaskClub lowered shares of Flex from a “buy” rating to a “hold” rating in a research report on Saturday, December 2nd. Citigroup increased their target price on shares of Flex from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Friday, October 27th. UBS Group increased their target price on shares of Flex from $18.00 to $19.75 and gave the company a “buy” rating in a research report on Friday, October 27th. Argus increased their target price on shares of Flex from $20.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, November 1st. Finally, Stifel Nicolaus increased their target price on shares of Flex from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Friday, October 27th.
In related news, EVP David Scott Offer sold 45,000 shares of the stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $17.71, for a total value of $796,950.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director William D. Watkins sold 9,000 shares of the stock in a transaction dated Thursday, December 7th. The shares were sold at an average price of $17.73, for a total transaction of $159,570.00. The disclosure for this sale can be found here. Corporate insiders own 0.83% of the company’s stock.
Flex (FLEX) traded up $0.12 during trading on Friday, hitting $18.76. 3,262,300 shares of the stock traded hands, compared to its average volume of 3,473,637. The company has a market capitalization of $10,120.00, a price-to-earnings ratio of 18.57, a P/E/G ratio of 1.02 and a beta of 0.81. The company has a quick ratio of 0.70, a current ratio of 1.23 and a debt-to-equity ratio of 1.01. Flex has a fifty-two week low of $14.22 and a fifty-two week high of $19.11.
Flex (NASDAQ:FLEX) last released its quarterly earnings results on Thursday, October 26th. The technology company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.26 by $0.01. The business had revenue of $6.27 billion during the quarter, compared to analyst estimates of $6.09 billion. Flex had a net margin of 2.25% and a return on equity of 22.71%. The company’s quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.28 earnings per share. research analysts expect that Flex will post 1.09 earnings per share for the current year.
Flex Ltd, formerly Flextronics International Ltd. provides design, engineering, manufacturing, and supply chain services and solutions. The Company designs, builds, ships and services packaged consumer electronics and industrial products for original equipment manufacturers (OEMs). Its segments include High Reliability Solutions (HRS), Consumer Technologies Group (CTG), Industrial and Emerging Industries (IEI) and Communications & Enterprise Compute (CEC).
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