Flexsteel Industries (NASDAQ:FLXS) Upgraded to Strong-Buy at Wall Street Zen

Key Points

• Flexsteel Industries has been upgraded by Wall Street Zen from a "buy" rating to a "strong-buy" rating, signaling strong confidence from analysts.
• The company's stock opened at $33.44, with a market cap of $176.23 million and a P/E ratio of 13.17.
• Institutional investors hold 36.27% of Flexsteel Industries' stock, with several hedge funds increasing their stakes recently.

Flexsteel Industries (NASDAQ:FLXS - Get Free Report) was upgraded by analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a research note issued to investors on Saturday.

Flexsteel Industries Stock Performance

Shares of FLXS stock opened at $33.44 on Friday. The company has a market cap of $176.23 million, a P/E ratio of 13.17, a PEG ratio of 0.76 and a beta of 0.32. The stock has a 50 day simple moving average of $35.09 and a two-hundred day simple moving average of $38.78. Flexsteel Industries has a fifty-two week low of $29.38 and a fifty-two week high of $65.87.

Institutional Investors Weigh In On Flexsteel Industries

A number of hedge funds have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD grew its stake in Flexsteel Industries by 2.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 10,219 shares of the company's stock valued at $556,000 after acquiring an additional 226 shares during the period. Geode Capital Management LLC grew its stake in Flexsteel Industries by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 95,508 shares of the company's stock valued at $5,191,000 after acquiring an additional 253 shares during the period. Marion Wealth Management grew its stake in Flexsteel Industries by 1.2% in the first quarter. Marion Wealth Management now owns 32,048 shares of the company's stock valued at $1,170,000 after acquiring an additional 388 shares during the period. Rhumbline Advisers grew its stake in Flexsteel Industries by 7.8% in the first quarter. Rhumbline Advisers now owns 7,788 shares of the company's stock valued at $284,000 after acquiring an additional 565 shares during the period. Finally, Wells Fargo & Company MN grew its stake in Flexsteel Industries by 29.3% in the fourth quarter. Wells Fargo & Company MN now owns 2,739 shares of the company's stock valued at $149,000 after acquiring an additional 620 shares during the period. 36.27% of the stock is currently owned by 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.

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