BidaskClub Downgrades Omega Flex (OFLX) to Strong Sell

Omega Flex (NASDAQ:OFLX) was downgraded by equities research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research report issued to clients and investors on Friday.

Shares of Omega Flex (NASDAQ OFLX) traded up $1.30 during trading on Friday, reaching $64.63. 21,233 shares of the company’s stock traded hands, compared to its average volume of 11,301. The company has a market capitalization of $652.25, a PE ratio of 42.52 and a beta of 1.30. Omega Flex has a 1 year low of $41.87 and a 1 year high of $76.63.

Omega Flex (NASDAQ:OFLX) last issued its quarterly earnings data on Thursday, October 19th. The industrial products company reported $0.40 earnings per share for the quarter. The firm had revenue of $24.92 million for the quarter. Omega Flex had a net margin of 15.32% and a return on equity of 30.39%.

A number of institutional investors have recently modified their holdings of the business. Kayne Anderson Rudnick Investment Management LLC grew its stake in Omega Flex by 33.5% during the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 815,945 shares of the industrial products company’s stock worth $58,618,000 after buying an additional 204,802 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Omega Flex by 1.3% during the third quarter. Dimensional Fund Advisors LP now owns 251,875 shares of the industrial products company’s stock valued at $18,095,000 after purchasing an additional 3,258 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Omega Flex by 5.7% during the second quarter. Vanguard Group Inc. now owns 134,937 shares of the industrial products company’s stock valued at $8,690,000 after purchasing an additional 7,257 shares during the last quarter. Northern Trust Corp grew its stake in shares of Omega Flex by 2.7% during the second quarter. Northern Trust Corp now owns 49,215 shares of the industrial products company’s stock valued at $3,169,000 after purchasing an additional 1,303 shares during the last quarter. Finally, State Street Corp grew its stake in shares of Omega Flex by 12.4% during the second quarter. State Street Corp now owns 47,542 shares of the industrial products company’s stock valued at $3,058,000 after purchasing an additional 5,229 shares during the last quarter. 24.19% of the stock is currently owned by hedge funds and other institutional investors.

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About Omega Flex

Omega Flex, Inc is a manufacturer of flexible metal hose. The Company is engaged in a range of different markets, including construction, manufacturing, transportation, petrochemical, pharmaceutical and other industries. It operates through manufacture and sale of flexible metal hose and accessories segment.

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