Flex (FLEX) Stock Rating Upgraded by BidaskClub

Flex (NASDAQ:FLEX) was upgraded by BidaskClub from a “sell” rating to a “hold” rating in a research report issued on Saturday.

Several other research analysts have also issued reports on the stock. UBS Group restated a “buy” rating and set a $21.50 price target on shares of Flex in a report on Tuesday, December 19th. Argus raised their price target on shares of Flex from $20.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, November 1st. Citigroup raised their price target on shares of Flex from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Friday, October 27th. Stifel Nicolaus raised their price target on shares of Flex from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Friday, October 27th. Finally, Royal Bank of Canada restated a “buy” rating and set a $19.00 price target on shares of Flex in a report on Friday, October 13th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $19.75.

Flex (NASDAQ:FLEX) remained flat at $$19.61 during trading on Friday. The company had a trading volume of 2,947,132 shares, compared to its average volume of 2,700,000. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.70 and a current ratio of 1.23. Flex has a 1 year low of $14.40 and a 1 year high of $19.71. The stock has a market cap of $10,360.00, a P/E ratio of 19.42, a price-to-earnings-growth ratio of 1.07 and a beta of 0.81.

Flex (NASDAQ:FLEX) last released its quarterly earnings results on Thursday, October 26th. The technology company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.01. Flex had a net margin of 2.25% and a return on equity of 22.71%. The firm had revenue of $6.27 billion during the quarter, compared to analyst estimates of $6.09 billion. During the same quarter last year, the business earned $0.28 EPS. The company’s revenue was up 4.3% compared to the same quarter last year. analysts predict that Flex will post 1.09 earnings per share for the current fiscal year.

In other news, Director William D. Watkins sold 9,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 7th. The shares were sold at an average price of $17.73, for a total transaction of $159,570.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP David Scott Offer sold 45,000 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $17.71, for a total transaction of $796,950.00. The disclosure for this sale can be found here. Company insiders own 0.83% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of FLEX. South Street Advisors LLC acquired a new stake in Flex in the 2nd quarter valued at $3,277,000. Cornerstone Capital Management Holdings LLC. grew its position in Flex by 9.8% in the 2nd quarter. Cornerstone Capital Management Holdings LLC. now owns 144,563 shares of the technology company’s stock valued at $2,357,000 after purchasing an additional 12,900 shares during the period. Oak Associates Ltd. OH grew its position in Flex by 8.5% in the 2nd quarter. Oak Associates Ltd. OH now owns 556,305 shares of the technology company’s stock valued at $9,073,000 after purchasing an additional 43,680 shares during the period. PGGM Investments grew its position in Flex by 0.3% in the 3rd quarter. PGGM Investments now owns 2,184,514 shares of the technology company’s stock valued at $36,197,000 after purchasing an additional 7,337 shares during the period. Finally, Korea Investment CORP grew its position in Flex by 145.7% in the 3rd quarter. Korea Investment CORP now owns 257,300 shares of the technology company’s stock valued at $4,263,000 after purchasing an additional 152,600 shares during the period. 95.28% of the stock is owned by institutional investors and hedge funds.

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About Flex

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).

Analyst Recommendations for Flex (NASDAQ:FLEX)

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