Flexsteel Industries (NASDAQ:FLXS) Cut to "Hold" at StockNews.com

Flexsteel Industries (NASDAQ:FLXS - Get Free Report) was downgraded by StockNews.com from a "buy" rating to a "hold" rating in a research report issued on Wednesday.

Separately, TheStreet raised shares of Flexsteel Industries from a "c" rating to a "b-" rating in a report on Monday, February 5th.

Flexsteel Industries Stock Performance

Shares of NASDAQ:FLXS traded down $1.07 during trading on Wednesday, hitting $37.48. 12,940 shares of the stock were exchanged, compared to its average volume of 30,528. The company has a market capitalization of $193.02 million, a price-to-earnings ratio of 13.29, a price-to-earnings-growth ratio of 1.64 and a beta of 0.53. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.90 and a current ratio of 3.07. Flexsteel Industries has a 1-year low of $15.67 and a 1-year high of $41.64. The company's fifty day simple moving average is $35.70 and its 200-day simple moving average is $25.73.

Flexsteel Industries (NASDAQ:FLXS - Get Free Report) last issued its earnings results on Monday, February 5th. The company reported $0.57 EPS for the quarter, hitting the consensus estimate of $0.57. Flexsteel Industries had a return on equity of 5.13% and a net margin of 3.86%. The firm had revenue of $100.11 million during the quarter, compared to analysts' expectations of $100.09 million. Sell-side analysts expect that Flexsteel Industries will post 1.95 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Weitzel Financial Services Inc. bought a new position in Flexsteel Industries in the 1st quarter valued at $264,000. Marion Wealth Management lifted its holdings in shares of Flexsteel Industries by 7.1% in the first quarter. Marion Wealth Management now owns 29,837 shares of the company's stock valued at $1,113,000 after purchasing an additional 1,979 shares in the last quarter. Bridgeway Capital Management LLC lifted its position in shares of Flexsteel Industries by 2.9% in the fourth quarter. Bridgeway Capital Management LLC now owns 54,895 shares of the company's stock worth $1,035,000 after purchasing an additional 1,536 shares in the last quarter. Northern Trust Corp raised its holdings in Flexsteel Industries by 22.3% during the fourth quarter. Northern Trust Corp now owns 24,450 shares of the company's stock worth $461,000 after acquiring an additional 4,457 shares in the last quarter. Finally, Victory Capital Management Inc. acquired a new position in Flexsteel Industries during the fourth quarter worth $92,000. 36.27% of the stock is owned by institutional investors.

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.