Flexsteel Industries (NASDAQ:FLXS) Stock Price Crosses Above Two Hundred Day Moving Average - Here's Why

Key Points

• Technical breakout: Shares crossed above its 200‑day moving average
• Strong quarter and analyst upgrades: Flexsteel reported EPS of $1.18 vs. $0.79 expected and revenue of $118.25M vs. $107.51M, and recent upgrades from Wall Street Zen and Zacks helped push the consensus rating to "Buy".
• Solid fundamentals and shareholder returns: market cap ~$282.4M, P/E 14.38 and PEG 1.02, a $0.80 annualized dividend (1.5% yield, 21.8% payout ratio), and ~36.3% institutional ownership.

Shares of Flexsteel Industries, Inc. (NASDAQ:FLXS - Get Free Report) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $43.12 and traded as high as $54.95. Flexsteel Industries shares last traded at $52.78, with a volume of 72,931 shares.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Wall Street Zen upgraded Flexsteel Industries from a "buy" rating to a "strong-buy" rating in a research report on Saturday, February 7th. Zacks Research raised shares of Flexsteel Industries from a "hold" rating to a "strong-buy" rating in a research note on Thursday, February 5th. Finally, Weiss Ratings restated a "hold (c+)" rating on shares of Flexsteel Industries in a report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy".

Flexsteel Industries Price Performance

The stock has a 50 day moving average price of $45.98 and a 200-day moving average price of $43.12. The stock has a market capitalization of $282.37 million, a P/E ratio of 14.38, a PEG ratio of 1.02 and a beta of 0.47.

Flexsteel Industries (NASDAQ:FLXS - Get Free Report) last posted its earnings results on Monday, February 2nd. The company reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.39. The company had revenue of $118.25 million for the quarter, compared to analysts' expectations of $107.51 million. Flexsteel Industries had a return on equity of 16.67% and a net margin of 4.58%. Research analysts predict that Flexsteel Industries, Inc. will post 3.53 earnings per share for the current fiscal year.

Flexsteel Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 8th. Stockholders of record on Monday, December 29th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend was Monday, December 29th. Flexsteel Industries's payout ratio is currently 21.80%.

Institutional Trading of Flexsteel Industries

Several institutional investors have recently added to or reduced their stakes in the business. Mariner LLC purchased a new position in Flexsteel Industries during the fourth quarter valued at $46,099,000. Focus Partners Wealth bought a new position in shares of Flexsteel Industries during the 3rd quarter valued at approximately $1,105,000. SummerHaven Investment Management LLC purchased a new stake in Flexsteel Industries in the 3rd quarter worth approximately $991,000. Inspire Investing LLC bought a new stake in Flexsteel Industries during the 3rd quarter worth approximately $955,000. Finally, LSV Asset Management raised its stake in Flexsteel Industries by 102.1% during the 3rd quarter. LSV Asset Management now owns 37,800 shares of the company's stock worth $1,752,000 after acquiring an additional 19,100 shares during the period. 36.27% of the stock is currently owned by hedge funds and other 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.

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