Flexsteel Industries (NASDAQ:FLXS) Shares Cross Above 200-Day Moving Average of $25.40

Flexsteel Industries, Inc. (NASDAQ:FLXS) shares passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $25.40 and traded as high as $38.37. Flexsteel Industries shares last traded at $37.99, with a volume of 17,128 shares.

Analysts Set New Price Targets

Several research firms have recently commented on FLXS. StockNews.com lowered shares of Flexsteel Industries from a “buy” rating to a “hold” rating in a research report on Friday, April 5th. TheStreet upgraded shares of Flexsteel Industries from a “c” rating to a “b-” rating in a research note on Monday, February 5th.

Flexsteel Industries Trading Down 0.6 %

The stock has a market capitalization of $195.65 million, a PE ratio of 13.10, a PEG ratio of 1.65 and a beta of 0.53. The company has a quick ratio of 0.90, a current ratio of 3.07 and a debt-to-equity ratio of 0.12. The business’s 50-day moving average is $35.32 and its two-hundred day moving average is $25.40.

Flexsteel Industries (NASDAQ:FLXS) last announced its earnings results on Monday, February 5th. The company reported $0.57 EPS for the quarter, meeting analysts’ consensus estimates of $0.57. Flexsteel Industries had a net margin of 3.86% and a return on equity of 5.13%. The business had revenue of $100.11 million during the quarter, compared to analysts’ expectations of $100.09 million. On average, analysts anticipate that Flexsteel Industries, Inc. will post 1.95 earnings per share for the current fiscal year.

Flexsteel Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, April 4th. Stockholders of record on Tuesday, March 26th were paid a dividend of $0.15 per share. The ex-dividend date was Monday, March 25th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.58%. Flexsteel Industries’s dividend payout ratio (DPR) is 20.69%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Ancora Advisors LLC increased its stake in shares of Flexsteel Industries by 2.5% during the 1st quarter. Ancora Advisors LLC now owns 24,249 shares of the company’s stock worth $845,000 after purchasing an additional 593 shares in the last quarter. State Street Corp increased its stake in Flexsteel Industries by 2.6% during the 1st quarter. State Street Corp now owns 106,455 shares of the company’s stock worth $2,070,000 after buying an additional 2,688 shares during the period. Bank of America Corp DE increased its position in shares of Flexsteel Industries by 49.4% in the 1st quarter. Bank of America Corp DE now owns 5,659 shares of the company’s stock worth $109,000 after purchasing an additional 1,871 shares during the last quarter. BNP Paribas Arbitrage SA increased its position in shares of Flexsteel Industries by 109.6% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 2,257 shares of the company’s stock worth $41,000 after purchasing an additional 1,180 shares during the last quarter. Finally, Millennium Management LLC bought a new stake in shares of Flexsteel Industries during the 2nd quarter valued at about $1,380,000. 36.27% of the stock is currently owned by institutional investors and hedge funds.

Flexsteel Industries Company Profile

Flexsteel Industries, Inc, together with its subsidiaries, operates as a manufacturer, importer, and markets of upholstered furniture for residential and contract markets in the United States. It provides upholstered furniture, such as sofas, loveseats, chairs, reclining rocking chairs, swivel rockers, sofa beds, convertible bedding units, occasional tables, desks, dining tables and chairs, kitchen storage, bedroom furniture, and outdoor furniture.