BidaskClub upgraded shares of Flex (NASDAQ:FLEX) from a sell rating to a hold rating in a report issued on Thursday morning, BidAskClub reports.
FLEX has been the topic of several other research reports. Goldman Sachs Group raised shares of Flex from a neutral rating to a buy rating and set a $11.00 price target on the stock in a report on Thursday, June 6th. JPMorgan Chase & Co. raised shares of Flex from a neutral rating to an overweight rating and set a $12.00 price target on the stock in a report on Wednesday, May 29th. ValuEngine raised shares of Flex from a buy rating to a strong-buy rating in a report on Thursday, August 1st. Finally, Zacks Investment Research raised shares of Flex from a strong sell rating to a hold rating and set a $9.50 price objective for the company in a research report on Wednesday, July 31st. Six research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Flex presently has an average rating of Hold and an average price target of $10.38.
Shares of NASDAQ FLEX traded down $0.06 on Thursday, hitting $10.86. The company’s stock had a trading volume of 2,124,056 shares, compared to its average volume of 6,165,757. Flex has a 12-month low of $6.74 and a 12-month high of $13.54. The company has a market capitalization of $5.66 billion, a price-to-earnings ratio of 60.33, a price-to-earnings-growth ratio of 1.42 and a beta of 1.83. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.26 and a quick ratio of 0.76. The stock has a 50 day moving average of $10.24 and a 200-day moving average of $10.17.
Flex (NASDAQ:FLEX) last announced its quarterly earnings results on Thursday, July 25th. The technology company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.11). Flex had a net margin of 0.09% and a return on equity of 0.73%. The business had revenue of $6.18 billion during the quarter, compared to analysts’ expectations of $6.25 billion. During the same period last year, the company earned $0.24 EPS. The firm’s revenue for the quarter was down 3.5% on a year-over-year basis. Sell-side analysts expect that Flex will post 0.49 EPS for the current fiscal year.
In other news, insider Francois Barbier sold 23,454 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $9.00, for a total value of $211,086.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Douglas Britt sold 9,762 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $8.97, for a total transaction of $87,565.14. The disclosure for this sale can be found here. In the last three months, insiders sold 131,874 shares of company stock valued at $1,237,682. Company insiders own 0.42% of the company’s stock.
Several large investors have recently bought and sold shares of the company. Front Row Advisors LLC increased its position in Flex by 646.9% during the first quarter. Front Row Advisors LLC now owns 2,547 shares of the technology company’s stock worth $25,000 after purchasing an additional 2,206 shares during the last quarter. Steward Partners Investment Advisory LLC acquired a new position in Flex during the second quarter worth approximately $25,000. Willingdon Wealth Management acquired a new position in Flex during the first quarter worth approximately $27,000. Shine Investment Advisory Services Inc. increased its position in Flex by 33.6% during the second quarter. Shine Investment Advisory Services Inc. now owns 4,071 shares of the technology company’s stock worth $39,000 after purchasing an additional 1,024 shares during the last quarter. Finally, Rockefeller Capital Management L.P. acquired a new position in Flex during the second quarter worth approximately $40,000. 93.70% of the stock is owned by institutional investors and hedge funds.
Flex Ltd. provides design, engineering, manufacturing, and supply chain services and solutions to original equipment manufacturers worldwide. It operates through Communications & Enterprise Compute, Consumer Technologies Group, Industrial and Emerging Industries, and High Reliability Solutions segments.
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