Flex (NASDAQ:FLEX) Upgraded by Wall Street Zen to Strong-Buy Rating

Key Points

• Flex has been upgraded from a "buy" rating to a "strong-buy" rating by Wall Street Zen, indicating increased analyst confidence in the company's future performance.
• Recent target price adjustments by various institutions have raised Flex's target price to between $60.00 and $53.71, reflecting a positive outlook among analysts.
• Flex reported a quarterly EPS of $0.72, surpassing expectations and showing a 4.1% increase in revenue compared to the previous year.

Flex (NASDAQ:FLEX - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a note issued to investors on Friday.

FLEX has been the topic of a number of other research reports. JPMorgan Chase & Co. boosted their target price on shares of Flex from $44.00 to $60.00 and gave the company an "overweight" rating in a research report on Thursday, July 17th. Barclays boosted their target price on shares of Flex from $50.00 to $60.00 and gave the company an "overweight" rating in a research report on Friday, July 25th. KGI Securities lowered shares of Flex from a "strong-buy" rating to a "hold" rating in a research note on Friday, July 25th. KeyCorp boosted their price target on shares of Flex from $50.00 to $60.00 and gave the company an "overweight" rating in a research note on Wednesday, July 2nd. Finally, The Goldman Sachs Group restated a "buy" rating on shares of Flex in a research note on Friday, July 11th. Seven analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, Flex has a consensus rating of "Moderate Buy" and a consensus target price of $53.71.

Flex Stock Up 0.6%

Shares of Flex stock traded up $0.35 during trading on Friday, reaching $56.85. 2,647,816 shares of the company traded hands, compared to its average volume of 3,539,592. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.36 and a quick ratio of 0.83. Flex has a 1-year low of $25.11 and a 1-year high of $59.76. The company has a 50 day moving average price of $53.34 and a 200-day moving average price of $44.66. The firm has a market capitalization of $21.34 billion, a PE ratio of 24.93, a P/E/G ratio of 1.92 and a beta of 1.13.

Flex (NASDAQ:FLEX - Get Free Report) last released its earnings results on Thursday, July 24th. The technology company reported $0.72 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.63 by $0.09. Flex had a net margin of 3.42% and a return on equity of 20.25%. The company had revenue of $6.58 billion for the quarter, compared to the consensus estimate of $6.27 billion. During the same quarter in the previous year, the company earned $0.51 EPS. Flex's quarterly revenue was up 4.1% compared to the same quarter last year. Flex has set its FY 2026 guidance at 2.860-3.060 EPS. Q2 2026 guidance at 0.700-0.780 EPS. As a group, equities research analysts expect that Flex will post 2.33 earnings per share for the current fiscal year.

Insider Transactions at Flex

In other news, insider Michael P. Hartung sold 45,000 shares of the company's stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $57.14, for a total value of $2,571,300.00. Following the completion of the sale, the insider owned 256,198 shares in the company, valued at $14,639,153.72. This represents a 14.94% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director William D. Watkins sold 10,000 shares of the company's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $51.79, for a total transaction of $517,900.00. Following the completion of the sale, the director owned 111,355 shares of the company's stock, valued at approximately $5,767,075.45. The trade was a 8.24% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 90,020 shares of company stock worth $4,923,667. 0.57% of the stock is owned by insiders.

Institutional Trading of Flex

Several institutional investors have recently made changes to their positions in FLEX. Rise Advisors LLC purchased a new position in shares of Flex in the 1st quarter worth about $25,000. Olde Wealth Management LLC purchased a new position in shares of Flex in the 1st quarter worth about $26,000. Cullen Frost Bankers Inc. purchased a new position in shares of Flex in the 1st quarter worth about $26,000. MTM Investment Management LLC purchased a new stake in Flex during the second quarter valued at about $26,000. Finally, Concord Wealth Partners purchased a new stake in Flex during the second quarter valued at about $28,000. Institutional investors own 94.30% of the company's stock.

About Flex

Flex Ltd. provides technology, supply chain, and manufacturing solutions in Asia, the Americas, and Europe. It operates through three segments: Flex Agility Solutions (FAS), Flex Reliability Solutions (FRS), and Nextracker. The FAS segment offers flexible supply and manufacturing system comprising communications, enterprise and cloud solution, which includes data, edge, and communications infrastructure; lifestyle solution including appliances, consumer packaging, floorcare, micro mobility, and audio; and consumer devices, such as mobile and high velocity consumer devices.

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