Flexsteel Industries (FLXS) Downgraded by BidaskClub

Flexsteel Industries (NASDAQ:FLXS) was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating in a report issued on Friday.

Flexsteel Industries (NASDAQ FLXS) traded up $0.01 during trading on Friday, reaching $47.77. The company’s stock had a trading volume of 24,340 shares, compared to its average volume of 16,969. Flexsteel Industries has a 1-year low of $43.25 and a 1-year high of $57.79. The stock has a market cap of $374.77, a price-to-earnings ratio of 15.71 and a beta of 2.04.

Flexsteel Industries (NASDAQ:FLXS) last released its quarterly earnings data on Thursday, October 19th. The company reported $0.64 EPS for the quarter. Flexsteel Industries had a return on equity of 10.60% and a net margin of 5.29%.

In other Flexsteel Industries news, Director Jeffrey T. Bertsch sold 1,510 shares of the company’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $50.00, for a total value of $75,500.00. Following the sale, the director now owns 195,659 shares in the company, valued at approximately $9,782,950. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 6.00% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Advisor Group Inc. raised its stake in shares of Flexsteel Industries by 1,119.1% during the 3rd quarter. Advisor Group Inc. now owns 4,023 shares of the company’s stock worth $204,000 after buying an additional 3,693 shares during the period. The Manufacturers Life Insurance Company raised its stake in shares of Flexsteel Industries by 22.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,519 shares of the company’s stock worth $352,000 after buying an additional 1,201 shares during the period. GSA Capital Partners LLP acquired a new position in shares of Flexsteel Industries during the 2nd quarter worth approximately $414,000. SG Americas Securities LLC acquired a new position in shares of Flexsteel Industries during the 3rd quarter worth approximately $459,000. Finally, Rhumbline Advisers raised its stake in shares of Flexsteel Industries by 11.6% during the 2nd quarter. Rhumbline Advisers now owns 8,659 shares of the company’s stock worth $469,000 after buying an additional 900 shares during the period. 65.82% of the stock is owned by institutional investors and hedge funds.

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Flexsteel Industries Company Profile

Flexsteel Industries, Inc is a manufacturer, importer, marketer and distributor of residential and commercial upholstered and wood furniture products in the United States. The Company offers its products for contract under categories, such as hospitality, healthcare, senior living, government and commercial office.

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