Omega Flex (OFLX) Stock Rating Lowered by BidaskClub

Omega Flex (NASDAQ:OFLX) was downgraded by stock analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued on Thursday.

OFLX traded down $0.90 during trading on Thursday, reaching $59.24. 14,941 shares of the stock were exchanged, compared to its average volume of 17,912. Omega Flex has a 1 year low of $53.50 and a 1 year high of $95.00. The company has a market cap of $610.45 million, a price-to-earnings ratio of 33.06 and a beta of 1.10.

Omega Flex (NASDAQ:OFLX) last issued its quarterly earnings data on Thursday, October 18th. The industrial products company reported $0.51 earnings per share (EPS) for the quarter. Omega Flex had a return on equity of 31.05% and a net margin of 17.39%. The business had revenue of $27.20 million for the quarter.

Large investors have recently modified their holdings of the company. O Shaughnessy Asset Management LLC purchased a new stake in shares of Omega Flex in the third quarter valued at $288,000. Wells Fargo & Company MN increased its stake in Omega Flex by 26.9% in the third quarter. Wells Fargo & Company MN now owns 11,757 shares of the industrial products company’s stock valued at $836,000 after purchasing an additional 2,494 shares during the last quarter. California Public Employees Retirement System increased its stake in Omega Flex by 5.0% in the second quarter. California Public Employees Retirement System now owns 18,067 shares of the industrial products company’s stock valued at $1,429,000 after purchasing an additional 867 shares during the last quarter. Schwab Charles Investment Management Inc. increased its stake in Omega Flex by 21.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 25,130 shares of the industrial products company’s stock valued at $1,989,000 after purchasing an additional 4,374 shares during the last quarter. Finally, Renaissance Technologies LLC increased its stake in Omega Flex by 27.7% in the second quarter. Renaissance Technologies LLC now owns 30,000 shares of the industrial products company’s stock valued at $2,373,000 after purchasing an additional 6,500 shares during the last quarter. Institutional investors and hedge funds own 25.83% of the company’s stock.

About Omega Flex

Omega Flex, Inc, together with its subsidiaries, manufactures and sells flexible metal hoses and accessories in the United States and internationally. It offers flexible gas piping for use in residential and commercial buildings, as well as its fittings; and corrugated medical tubing for use in hospitals, ambulatory care centers, dental, physician and veterinary clinics, laboratories, and other facilities.

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