Flex (NASDAQ:FLEX) has been assigned a consensus rating of “Buy” from the thirteen analysts that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and nine have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $20.56.
Several brokerages recently commented on FLEX. BidaskClub lowered shares of Flex from a “hold” rating to a “sell” rating in a research note on Wednesday, December 27th. Needham & Company LLC lifted their price target on shares of Flex from $19.00 to $21.00 and gave the stock a “buy” rating in a research note on Friday, January 26th. Bank of America lifted their price target on shares of Flex from $20.00 to $22.00 and gave the stock a “buy” rating in a research note on Friday, January 26th. Stifel Nicolaus lifted their price target on shares of Flex from $20.00 to $22.00 and gave the stock a “buy” rating in a research note on Friday, January 26th. Finally, ValuEngine upgraded shares of Flex from a “hold” rating to a “buy” rating in a research note on Tuesday, January 30th.
Shares of FLEX traded up $0.05 during midday trading on Friday, reaching $17.22. The stock had a trading volume of 4,280,062 shares, compared to its average volume of 3,481,217. Flex has a 1-year low of $14.70 and a 1-year high of $19.71. The firm has a market capitalization of $9,086.39, a price-to-earnings ratio of 16.88, a PEG ratio of 0.88 and a beta of 0.85. The company has a current ratio of 1.22, a quick ratio of 0.72 and a debt-to-equity ratio of 0.97.
Flex (NASDAQ:FLEX) last announced its quarterly earnings data on Thursday, January 25th. The technology company reported $0.31 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.31. Flex had a net margin of 2.15% and a return on equity of 20.44%. The business had revenue of $6.75 billion for the quarter, compared to analyst estimates of $6.50 billion. During the same period last year, the business earned $0.34 EPS. The company’s revenue was up 10.4% on a year-over-year basis. analysts predict that Flex will post 1.08 earnings per share for the current fiscal year.
In related news, Director Willy C. Shih sold 13,597 shares of Flex stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $17.91, for a total transaction of $243,522.27. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.83% of the stock is owned by company insiders.
A number of institutional investors have recently modified their holdings of FLEX. First Personal Financial Services grew its position in Flex by 227.4% during the 4th quarter. First Personal Financial Services now owns 8,974 shares of the technology company’s stock worth $161,000 after purchasing an additional 6,233 shares during the last quarter. CIBC World Markets Inc. purchased a new stake in shares of Flex in the fourth quarter valued at about $196,000. Sciencast Management LP purchased a new stake in shares of Flex in the fourth quarter valued at about $226,000. Quantitative Systematic Strategies LLC purchased a new stake in shares of Flex in the fourth quarter valued at about $236,000. Finally, Capital Fund Management S.A. purchased a new stake in shares of Flex in the fourth quarter valued at about $240,000. 97.75% of the stock is currently owned by institutional investors.
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Flex Company Profile
Flex Ltd. provides design, engineering, manufacturing, and supply chain services and solutions to original equipment manufacturers worldwide. It offers innovation services, such as innovations labs for supporting customer design and product development services from early concept stages; collective innovation platform, an ecosystem of technology solutions; Lab IX, a startup accelerator program; centers of excellence solutions in critical areas; interconnect technology center for printed circuits; and CloudLabs that enables customers to accelerate a spectrum of cloud, converged infrastructure, and datacenter strategies.
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