Key Points
- Insider David Crimmins sold 6,100 Flexsteel shares at an average $72.67, totaling $443,287. After the sale, he owned 32,078 shares; the transaction reduced his holdings by 15.98%.
- Flexsteel’s latest quarterly results slightly beat expectations: EPS was $1.24 versus a $1.23 consensus, and revenue was $113.97 million versus estimates of $112.70 million.
- Analysts’ average rating was “Moderate Buy,” with an average price target of $86. The shares opened at $75.13.
Flexsteel Industries, Inc. (NASDAQ:FLXS - Get Free Report) insider David Crimmins sold 3,850 shares of the firm's stock in a transaction that occurred on Tuesday, November 10th. The shares were sold at an average price of $72.61, for a total transaction of $279,548.50. Following the completion of the transaction, the insider directly owned 28,228 shares of the company's stock, valued at approximately $2,049,635.08. The trade was a 12.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.
David Edward Crimmins also recently made the following trade(s):
- On Monday, November 9th, David Crimmins sold 6,100 shares of Flexsteel Industries stock. The shares were sold at an average price of $72.67, for a total transaction of $443,287.00.
- On Friday, August 21st, David Crimmins sold 4,494 shares of Flexsteel Industries stock. The stock was sold at an average price of $80.91, for a total transaction of $363,609.54.
- On Thursday, August 20th, David Crimmins sold 1,262 shares of Flexsteel Industries stock. The stock was sold at an average price of $79.02, for a total transaction of $99,723.24.
Flexsteel Industries Stock Up 0.3%
Flexsteel Industries stock opened at $75.13 on Friday. The firm has a market cap of $312.69 million, a PE ratio of 12.24, a price-to-earnings-growth ratio of 1.16 and a beta of 0.61. Flexsteel Industries, Inc. has a 52-week low of $34.59 and a 52-week high of $90.64. The company's 50 day moving average is $81.64 and its two-hundred day moving average is $65.14.
Flexsteel Industries (NASDAQ:FLXS - Get Free Report) last issued its quarterly earnings results on Monday, October 26th. The company reported $1.24 EPS for the quarter, beating the consensus estimate of $1.23 by $0.01. The company had revenue of $113.97 million during the quarter, compared to analysts' expectations of $112.70 million. Flexsteel Industries had a net margin of 6.75% and a return on equity of 15.92%. On average, equities research analysts anticipate that Flexsteel Industries, Inc. will post 5.40 earnings per share for the current fiscal year.
Flexsteel Industries Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 12th. Stockholders of record on Wednesday, September 30th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.3%. The ex-dividend date was Wednesday, September 30th. Flexsteel Industries's dividend payout ratio (DPR) is presently 16.29%.
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in the company. Signaturefd LLC purchased a new position in Flexsteel Industries in the third quarter worth approximately $25,000. Legal & General Group Plc purchased a new stake in shares of Flexsteel Industries in the 2nd quarter valued at approximately $25,000. C M Bidwell & Associates Ltd. purchased a new stake in shares of Flexsteel Industries in the 2nd quarter valued at approximately $67,000. State of Wyoming purchased a new stake in shares of Flexsteel Industries in the 3rd quarter valued at approximately $162,000. Finally, IFP Advisors Inc increased its position in shares of Flexsteel Industries by 52.5% in the 2nd quarter. IFP Advisors Inc now owns 3,052 shares of the company's stock valued at $227,000 after purchasing an additional 1,051 shares during the last quarter. Hedge funds and other institutional investors own 36.27% of the company's stock.
Analysts Set New Price Targets
A number of research firms recently issued reports on FLXS. Weiss Ratings lowered Flexsteel Industries from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday, November 3rd. Freedom Capital downgraded Flexsteel Industries from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 18th. Zacks Research upgraded Flexsteel Industries from a "hold" rating to a "strong-buy" rating in a report on Thursday, October 1st. Finally, Freedom Broker increased their price target on Flexsteel Industries from $80.00 to $86.00 and gave the company a "hold" rating in a research report on Tuesday, October 27th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $86.00.
Read Our Latest Stock Analysis on Flexsteel Industries
About Flexsteel Industries
(
Get Free Report)
Flexsteel Industries designs, manufactures, imports and markets furniture for residential and commercial customers. Its products include sofas, recliners, sectionals and other upholstered seating, along with dining, bedroom and occasional furniture. The company sells products under the Flexsteel name and other brands through a network of furniture retailers and other distribution channels. Its offerings serve homes as well as commercial settings. Founded in 1893, Flexsteel is headquartered in Dubuque, Iowa, and serves customers primarily in the United States.
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