Flex (NASDAQ:FLEX) had its price target upped by Bank of America from $20.00 to $22.00 in a research note issued to investors on Friday, The Fly reports. The brokerage presently has a “buy” rating on the technology company’s stock. Bank of America’s price target indicates a potential upside of 14.94% from the company’s previous close.
Other equities research analysts have also issued research reports about the company. BidaskClub upgraded Flex from a “sell” rating to a “hold” rating in a research report on Saturday, January 20th. Needham & Company LLC boosted their price objective on Flex from $19.00 to $21.00 and gave the stock a “buy” rating in a research report on Friday. UBS Group boosted their price objective on Flex from $18.00 to $19.75 and gave the stock a “buy” rating in a research report on Friday, October 27th. Argus boosted their price objective on Flex from $20.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, November 1st. Finally, Royal Bank of Canada restated a “buy” rating and set a $19.00 price objective on shares of Flex in a research report on Friday, October 13th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Flex has a consensus rating of “Buy” and a consensus price target of $20.31.
Shares of Flex (NASDAQ:FLEX) traded up $0.33 on Friday, hitting $19.14. The stock had a trading volume of 3,303,744 shares, compared to its average volume of 3,748,169. Flex has a one year low of $14.70 and a one year high of $19.71. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.70 and a current ratio of 1.23. The company has a market cap of $10,014.54, a price-to-earnings ratio of 18.95, a price-to-earnings-growth ratio of 1.04 and a beta of 0.81.
In other Flex news, Director William D. Watkins sold 9,000 shares of Flex stock in a transaction dated Thursday, December 7th. The stock was 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 SEC, which is available through this hyperlink. Also, EVP David Scott Offer sold 45,000 shares of the business’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $17.71, for a total value of $796,950.00. The disclosure for this sale can be found here. 0.83% of the stock is currently owned by insiders.
Several large investors have recently made changes to their positions in the company. IFP Advisors Inc increased its holdings in Flex by 11.0% during the 4th quarter. IFP Advisors Inc now owns 31,047 shares of the technology company’s stock worth $559,000 after purchasing an additional 3,069 shares in the last quarter. Regentatlantic Capital LLC raised its position in shares of Flex by 13.4% in the fourth quarter. Regentatlantic Capital LLC now owns 39,543 shares of the technology company’s stock worth $711,000 after buying an additional 4,660 shares in the last quarter. First Personal Financial Services raised its position in shares of Flex by 227.4% in the fourth quarter. First Personal Financial Services now owns 8,974 shares of the technology company’s stock worth $161,000 after buying an additional 6,233 shares in the last quarter. PGGM Investments raised its position in shares of Flex by 0.3% in the third quarter. PGGM Investments now owns 2,184,514 shares of the technology company’s stock worth $36,197,000 after buying an additional 7,337 shares in the last quarter. Finally, Cornerstone Capital Management Holdings LLC. raised its position in shares of Flex by 5.6% in the third quarter. Cornerstone Capital Management Holdings LLC. now owns 152,663 shares of the technology company’s stock worth $2,529,000 after buying an additional 8,100 shares in the last quarter. 95.08% of the stock is currently owned by institutional investors.
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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).
