Flexsteel Industries (NASDAQ:FLXS) Rating Lowered to "Strong Sell" at Zacks Research

Key Points

• Flexsteel Industries has been downgraded by Zacks Research from a "strong-buy" to a "strong sell" rating, indicating a significant shift in analyst sentiment towards the company.
• Despite this downgrade, Weiss Ratings has reissued a "buy" rating, highlighting mixed analyst views, with an overall average rating of "Hold" for the stock.
• Flexsteel's stock currently stands at $38.47, down 5.2%, with a market capitalization of approximately $202.74 million and a P/E ratio of 10.87.

Flexsteel Industries (NASDAQ:FLXS - Get Free Report) was downgraded by equities researchers at Zacks Research from a "strong-buy" rating to a "strong sell" rating in a report issued on Thursday,Zacks.com reports.

Several other research firms have also recently issued reports on FLXS. Weiss Ratings reissued a "buy (b-)" rating on shares of Flexsteel Industries in a research report on Wednesday, October 8th. Wall Street Zen cut shares of Flexsteel Industries from a "strong-buy" rating to a "buy" rating in a research report on Saturday. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, Flexsteel Industries currently has an average rating of "Hold".

Flexsteel Industries Stock Down 5.2%

Shares of NASDAQ:FLXS opened at $38.47 on Thursday. Flexsteel Industries has a 52 week low of $29.38 and a 52 week high of $65.87. The stock has a market capitalization of $202.74 million, a P/E ratio of 10.87, a PEG ratio of 1.13 and a beta of 0.51. The firm has a fifty day simple moving average of $44.44 and a two-hundred day simple moving average of $37.74.

Flexsteel Industries (NASDAQ:FLXS - Get Free Report) last issued its quarterly earnings data on Monday, August 18th. The company reported $1.40 EPS for the quarter, topping analysts' consensus estimates of $0.84 by $0.56. Flexsteel Industries had a net margin of 4.57% and a return on equity of 14.74%. The business had revenue of $114.61 million during the quarter, compared to analysts' expectations of $111.93 million. During the same period last year, the company posted $0.75 EPS. Flexsteel Industries has set its Q1 2026 guidance at EPS. On average, analysts expect that Flexsteel Industries will post 3.53 earnings per share for the current year.

Insider Activity at Flexsteel Industries

In related news, insider Michael Joseph Mcclaflin sold 2,600 shares of the business's stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $46.75, for a total transaction of $121,550.00. Following the completion of the transaction, the insider owned 33,576 shares in the company, valued at $1,569,678. The trade was a 7.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 15.60% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. American Century Companies Inc. raised its stake in shares of Flexsteel Industries by 1.5% during the 2nd quarter. American Century Companies Inc. now owns 118,084 shares of the company's stock worth $4,255,000 after acquiring an additional 1,716 shares in the last quarter. Bridgeway Capital Management LLC increased its stake in Flexsteel Industries by 3.8% during the 2nd quarter. Bridgeway Capital Management LLC now owns 63,106 shares of the company's stock valued at $2,274,000 after purchasing an additional 2,298 shares in the last quarter. Acadian Asset Management LLC increased its stake in Flexsteel Industries by 16.2% during the 2nd quarter. Acadian Asset Management LLC now owns 59,971 shares of the company's stock valued at $2,159,000 after purchasing an additional 8,366 shares in the last quarter. Los Angeles Capital Management LLC increased its stake in Flexsteel Industries by 12.7% during the 2nd quarter. Los Angeles Capital Management LLC now owns 42,939 shares of the company's stock valued at $1,547,000 after purchasing an additional 4,840 shares in the last quarter. Finally, Marion Wealth Management increased its stake in Flexsteel Industries by 4.0% during the 3rd quarter. Marion Wealth Management now owns 33,936 shares of the company's stock valued at $1,573,000 after purchasing an additional 1,295 shares in the last quarter. Institutional investors own 36.27% of the company's stock.

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.

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