Flexsteel Industries (NASDAQ:FLXS) Shares Cross Above 200 Day Moving Average - Time to Sell?

Shares of Flexsteel Industries, Inc. (NASDAQ:FLXS - Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $43.55 and traded as high as $56.47. Flexsteel Industries shares last traded at $54.44, with a volume of 62,101 shares trading hands.

Wall Street Analyst Weigh In

FLXS has been the subject of several analyst reports. Wall Street Zen cut shares of Flexsteel Industries from a "strong-buy" rating to a "buy" rating in a research note on Saturday, April 25th. Zacks Research cut shares of Flexsteel Industries from a "strong-buy" rating to a "hold" rating in a report on Monday, April 6th. Finally, Weiss Ratings upgraded shares of Flexsteel Industries from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, April 20th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy".

Flexsteel Industries Stock Performance

The company has a market cap of $291.58 million, a P/E ratio of 9.86, a P/E/G ratio of 1.01 and a beta of 0.57. The stock's fifty day moving average price is $48.25 and its two-hundred day moving average price is $43.55.

Flexsteel Industries (NASDAQ:FLXS - Get Free Report) last announced its quarterly earnings data on Monday, April 20th. The company reported $1.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.75 by $0.39. Flexsteel Industries had a net margin of 6.79% and a return on equity of 16.10%. The business had revenue of $115.13 million for the quarter, compared to analysts' expectations of $118.32 million. On average, equities research analysts forecast that Flexsteel Industries, Inc. will post 4.65 EPS for the current year.

Flexsteel Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 9th. Stockholders of record on Monday, March 30th were paid a $0.20 dividend. The ex-dividend date was Monday, March 30th. This represents a $0.80 annualized dividend and a dividend yield of 1.5%. Flexsteel Industries's dividend payout ratio (DPR) is presently 14.49%.

Institutional Trading of Flexsteel Industries

Several institutional investors and hedge funds have recently modified their holdings of the business. IFP Advisors Inc grew its position in Flexsteel Industries by 2,200.0% in the third quarter. IFP Advisors Inc now owns 621 shares of the company's stock valued at $29,000 after acquiring an additional 594 shares during the last quarter. State of Alaska Department of Revenue acquired a new position in Flexsteel Industries during the fourth quarter worth about $38,000. BNP Paribas Financial Markets lifted its holdings in shares of Flexsteel Industries by 149.6% in the third quarter. BNP Paribas Financial Markets now owns 971 shares of the company's stock worth $45,000 after acquiring an additional 582 shares during the last quarter. Farther Finance Advisors LLC acquired a new stake in shares of Flexsteel Industries in the 4th quarter valued at approximately $49,000. Finally, Copeland Capital Management LLC acquired a new stake in shares of Flexsteel Industries in the 4th quarter valued at approximately $59,000. 36.27% of the stock is currently owned by 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.