Flexsteel Industries (NASDAQ:FLXS) Share Price Crosses Below 200 Day Moving Average - What's Next?

Key Points

• Flexsteel Industries stock price fell below its 200-day moving average of $37.40, trading as low as $35.66, indicating potential concerns among investors.
• Analysts downgraded Flexsteel's rating from a "strong-buy" to a "buy," reflecting a shift in market sentiment regarding the company's prospects.
• Flexsteel Industries recently increased its quarterly dividend from $0.17 to $0.20 per share, resulting in an annualized yield of 2.2%, showing commitment to returning value to shareholders.

Flexsteel Industries, Inc. (NASDAQ:FLXS - Get Free Report) shares passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $37.40 and traded as low as $35.66. Flexsteel Industries shares last traded at $36.55, with a volume of 57,487 shares.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen cut shares of Flexsteel Industries from a "strong-buy" rating to a "buy" rating in a report on Sunday, August 10th.

Flexsteel Industries Price Performance

The firm has a market capitalization of $231.72 million, a PE ratio of 12.42, a P/E/G ratio of 0.95 and a beta of 0.32. The company has a 50-day moving average price of $36.91 and a 200-day moving average price of $36.98.

Flexsteel Industries (NASDAQ:FLXS - Get Free Report) last posted 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. The firm had revenue of $114.61 million during the quarter, compared to analysts' expectations of $111.93 million. Flexsteel Industries had a return on equity of 14.96% and a net margin of 4.57%.During the same quarter last year, the business posted $0.75 EPS. Flexsteel Industries has set its Q1 2026 guidance at EPS. On average, research analysts predict that Flexsteel Industries, Inc. will post 3.53 earnings per share for the current fiscal year.

Flexsteel Industries Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 7th. Shareholders of record on Wednesday, June 25th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Wednesday, June 25th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.8%. This is a boost from Flexsteel Industries's previous quarterly dividend of $0.17. Flexsteel Industries's dividend payout ratio is currently 22.60%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Lazard Asset Management LLC boosted its position in shares of Flexsteel Industries by 20.6% in the second quarter. Lazard Asset Management LLC now owns 9,932 shares of the company's stock worth $357,000 after buying an additional 1,697 shares during the period. Bridgeway Capital Management LLC grew its position in Flexsteel Industries by 3.8% in the second quarter. Bridgeway Capital Management LLC now owns 63,106 shares of the company's stock valued at $2,274,000 after acquiring an additional 2,298 shares in the last quarter. Ameriprise Financial Inc. raised its stake in shares of Flexsteel Industries by 8.9% during the second quarter. Ameriprise Financial Inc. now owns 7,972 shares of the company's stock valued at $287,000 after purchasing an additional 653 shares during the period. Qube Research & Technologies Ltd raised its stake in shares of Flexsteel Industries by 7.0% during the second quarter. Qube Research & Technologies Ltd now owns 28,888 shares of the company's stock valued at $1,041,000 after purchasing an additional 1,881 shares during the period. Finally, First Trust Advisors LP lifted its position in shares of Flexsteel Industries by 4.1% during the second quarter. First Trust Advisors LP now owns 11,745 shares of the company's stock worth $423,000 after purchasing an additional 467 shares in the last quarter. 36.27% of the stock is owned by hedge funds and other institutional investors.

About Flexsteel Industries

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.