Flex (NASDAQ:FLEX – Get Rating) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Friday.
A number of other equities analysts have also recently issued reports on the stock. Zacks Investment Research upgraded shares of Flex from a “hold” rating to a “strong-buy” rating and set a $21.00 price target on the stock in a research note on Friday, April 1st. Craig Hallum reduced their price objective on shares of Flex from $31.00 to $25.00 in a research note on Thursday, January 27th.
Shares of FLEX stock traded down $0.27 during trading hours on Friday, reaching $16.95. The company’s stock had a trading volume of 6,033,542 shares, compared to its average volume of 4,531,563. The stock has a market capitalization of $7.87 billion, a P/E ratio of 8.74, a P/E/G ratio of 0.63 and a beta of 1.50. Flex has a one year low of $14.88 and a one year high of $19.50. The firm’s fifty day simple moving average is $16.87 and its 200 day simple moving average is $17.30. The company has a current ratio of 1.37, a quick ratio of 0.75 and a debt-to-equity ratio of 1.04.
Flex (NASDAQ:FLEX – Get Rating) last released its quarterly earnings results on Wednesday, May 4th. The technology company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.16. Flex had a return on equity of 28.60% and a net margin of 3.96%. The company had revenue of $6.85 billion for the quarter, compared to analyst estimates of $6.45 billion. During the same period in the previous year, the company posted $0.47 earnings per share. The firm’s revenue was up 9.3% on a year-over-year basis. As a group, equities research analysts forecast that Flex will post 1.83 earnings per share for the current fiscal year.
In other news, CEO Revathi Advaithi sold 32,367 shares of Flex stock in a transaction that occurred on Monday, February 14th. The shares were sold at an average price of $17.08, for a total value of $552,828.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.43% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Captrust Financial Advisors boosted its holdings in shares of Flex by 7.8% in the third quarter. Captrust Financial Advisors now owns 8,035 shares of the technology company’s stock worth $142,000 after buying an additional 584 shares during the last quarter. Investors Research Corp boosted its holdings in shares of Flex by 1.8% in the first quarter. Investors Research Corp now owns 37,752 shares of the technology company’s stock worth $700,000 after buying an additional 650 shares during the last quarter. Peapack Gladstone Financial Corp boosted its holdings in shares of Flex by 2.2% in the third quarter. Peapack Gladstone Financial Corp now owns 31,582 shares of the technology company’s stock worth $558,000 after buying an additional 673 shares during the last quarter. Public Employees Retirement System of Ohio lifted its holdings in Flex by 4.7% during the fourth quarter. Public Employees Retirement System of Ohio now owns 18,458 shares of the technology company’s stock valued at $338,000 after purchasing an additional 830 shares in the last quarter. Finally, Comerica Bank lifted its holdings in Flex by 5.3% during the first quarter. Comerica Bank now owns 18,698 shares of the technology company’s stock valued at $329,000 after purchasing an additional 947 shares in the last quarter. 95.95% of the stock is currently owned by institutional investors.
Flex Company Profile (Get Rating)
Flex Ltd. provides design, engineering, manufacturing, and supply chain services and solutions to original equipment manufacturers in Asia, the Americas, and Europe. It operates through two segments, Flex Agility Solutions (FAS) and Flex Reliability Solutions (FRS). The company provides a portfolio of technologies in electrical/electronics, electromechanical, and software; and cross-industry technologies, including human machine interface, audio and video, system in package, miniaturization, IoT platforms, and power management.