Flexsteel Industries (NASDAQ:FLXS) Stock Price Passes Above Fifty Day Moving Average – Should You Sell?

Flexsteel Industries, Inc. (NASDAQ:FLXS) passed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $38.44 and traded as high as $41.43. Flexsteel Industries shares last traded at $40.46, with a volume of 17,151 shares.

Wall Street Analyst Weigh In

Several research firms have issued reports on FLXS. Wall Street Zen cut shares of Flexsteel Industries from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 18th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Flexsteel Industries in a report on Monday, December 29th. Finally, Zacks Research raised Flexsteel Industries from a “strong sell” rating to a “hold” rating in a research note on Monday, December 15th. Two analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock has an average rating of “Hold”.

Flexsteel Industries Trading Up 1.4%

The firm has a market cap of $216.06 million, a PE ratio of 9.84, a P/E/G ratio of 0.94 and a beta of 0.51. The business’s 50-day simple moving average is $38.44 and its 200 day simple moving average is $40.05.

Flexsteel Industries (NASDAQ:FLXS) last released its quarterly earnings data on Monday, October 20th. The company reported $1.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.53. The firm had revenue of $110.44 million for the quarter, compared to the consensus estimate of $105.38 million. Flexsteel Industries had a net margin of 5.22% and a return on equity of 16.28%. During the same period last year, the firm earned $0.74 earnings per share. Analysts expect that Flexsteel Industries, Inc. will post 3.53 earnings per share for the current year.

Flexsteel Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 8th. Shareholders of record on Monday, December 29th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Monday, December 29th. Flexsteel Industries’s dividend payout ratio (DPR) is 19.46%.

Institutional Investors Weigh In On Flexsteel Industries

Hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. boosted its position in Flexsteel Industries by 16.4% during the third quarter. JPMorgan Chase & Co. now owns 20,384 shares of the company’s stock valued at $945,000 after purchasing an additional 2,875 shares in the last quarter. Severin Investments LLC bought a new stake in shares of Flexsteel Industries in the 3rd quarter valued at about $386,000. IFP Advisors Inc grew its position in shares of Flexsteel Industries by 2,200.0% in the 3rd quarter. IFP Advisors Inc now owns 621 shares of the company’s stock worth $29,000 after buying an additional 594 shares during the last quarter. Qube Research & Technologies Ltd raised its stake in shares of Flexsteel Industries by 10.8% during the 3rd quarter. Qube Research & Technologies Ltd now owns 32,003 shares of the company’s stock worth $1,483,000 after acquiring an additional 3,115 shares in the last quarter. Finally, Punch & Associates Investment Management Inc. raised its stake in shares of Flexsteel Industries by 22.5% during the 3rd quarter. Punch & Associates Investment Management Inc. now owns 73,502 shares of the company’s stock worth $3,407,000 after acquiring an additional 13,502 shares in the last quarter. 36.27% of the stock is currently owned by hedge funds and other institutional investors.

About Flexsteel Industries

Flexsteel Industries, Inc (NASDAQ: FLXS) is a U.S.-based furniture manufacturer specializing in the design, production, and marketing of residential upholstered furniture and wood casegoods. The company operates through two primary segments: Upholstery, which encompasses seating products such as sofas, loveseats, chairs, recliners, and sectionals; and Casegoods, which includes accent and occasional tables, cabinets, bookcases, and other wood-based furnishings. Flexsteel sells its products through a network of independent retailers, furniture stores, and distributors across North America.

Flexsteel’s upholstery segment is distinguished by its patented Blue Steel Spring® technology, which offers enhanced longevity and comfort by replacing conventional webbing and springs with a welded steel seat suspension.