Flexsteel Industries, Inc. (NASDAQ:FLXS - Get Free Report) VP Stacy Kammes sold 2,750 shares of Flexsteel Industries stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $82.66, for a total value of $227,315.00. Following the completion of the sale, the vice president directly owned 33,306 shares in the company, valued at $2,753,073.96. This trade represents a 7.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Stacy Marie Kammes also recently made the following trade(s):
- On Friday, August 21st, Stacy Kammes sold 2,250 shares of Flexsteel Industries stock. The shares were sold at an average price of $81.00, for a total value of $182,250.00.
Flexsteel Industries Price Performance
NASDAQ FLXS opened at $84.20 on Wednesday. Flexsteel Industries, Inc. has a 1-year low of $34.00 and a 1-year high of $88.49. The business has a 50 day simple moving average of $76.22 and a two-hundred day simple moving average of $61.49. The stock has a market capitalization of $451.31 million, a PE ratio of 13.56, a P/E/G ratio of 1.29 and a beta of 0.57.
Flexsteel Industries (NASDAQ:FLXS - Get Free Report) last issued its quarterly earnings data on Monday, August 17th. The company reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.09 by $0.24. The business had revenue of $115.37 million for the quarter, compared to analysts' expectations of $109.51 million. Flexsteel Industries had a return on equity of 16.11% and a net margin of 7.21%. On average, analysts anticipate that Flexsteel Industries, Inc. will post 5.29 EPS for the current fiscal year.
Hedge Funds Weigh In On Flexsteel Industries
Several hedge funds have recently bought and sold shares of the business. Janney Montgomery Scott LLC increased its stake in Flexsteel Industries by 97.5% in the first quarter. Janney Montgomery Scott LLC now owns 29,207 shares of the company's stock worth $1,313,000 after purchasing an additional 14,417 shares during the period. BlackRock Inc. purchased a new stake in shares of Flexsteel Industries during the second quarter valued at $20,589,000. Walleye Capital LLC bought a new position in shares of Flexsteel Industries in the first quarter worth about $1,359,000. Illumine Investment Management LLC purchased a new position in Flexsteel Industries in the 1st quarter worth about $774,000. Finally, Bank of America Corp DE increased its stake in Flexsteel Industries by 462.3% in the 1st quarter. Bank of America Corp DE now owns 27,536 shares of the company's stock worth $1,237,000 after buying an additional 22,639 shares during the period. Institutional investors own 36.27% of the company's stock.
Analyst Ratings Changes
A number of brokerages have issued reports on FLXS. Zacks Research downgraded Flexsteel Industries from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, July 21st. Weiss Ratings restated a "buy (b-)" rating on shares of Flexsteel Industries in a report on Friday, July 17th. Freedom Broker lowered shares of Flexsteel Industries from a "buy" rating to a "hold" rating and lifted their price objective for the stock from $72.00 to $80.00 in a research note on Tuesday, August 18th. Finally, Freedom Capital lowered shares of Flexsteel Industries from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 18th. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $80.00.
Check Out Our Latest Analysis on Flexsteel Industries
About Flexsteel Industries
(
Get Free Report)
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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