Flex (NASDAQ:FLEX) was downgraded by stock analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Friday, BidAskClub reports.

Several other brokerages also recently commented on FLEX. Zacks Investment Research downgraded Flex from a “buy” rating to a “hold” rating in a research note on Tuesday, May 7th. ValuEngine raised Flex from a “sell” rating to a “hold” rating in a research note on Monday, April 1st. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $12.33.

NASDAQ:FLEX traded down $0.20 on Friday, hitting $9.27. The stock had a trading volume of 7,537,915 shares, compared to its average volume of 6,818,110. The firm has a market cap of $4.97 billion, a P/E ratio of 51.50, a PEG ratio of 0.62 and a beta of 1.80. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.75 and a current ratio of 1.26. Flex has a 52 week low of $6.74 and a 52 week high of $15.38.

Flex (NASDAQ:FLEX) last announced its quarterly earnings results on Tuesday, April 30th. The technology company reported $0.27 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.27. The business had revenue of $6.20 billion for the quarter, compared to analyst estimates of $6.41 billion. Flex had a return on equity of 2.99% and a net margin of 0.36%. The company’s quarterly revenue was down 3.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.28 earnings per share. On average, equities analysts forecast that Flex will post 0.98 earnings per share for the current fiscal year.

Several institutional investors have recently modified their holdings of FLEX. Front Row Advisors LLC raised its stake in shares of Flex by 646.9% in 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. Willingdon Wealth Management purchased a new stake in shares of Flex in the first quarter worth approximately $27,000. Whittier Trust Co. of Nevada Inc. raised its stake in shares of Flex by 119.7% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 3,825 shares of the technology company’s stock worth $29,000 after purchasing an additional 2,084 shares during the last quarter. Fiera Capital Corp purchased a new stake in shares of Flex in the fourth quarter worth approximately $80,000. Finally, FUKOKU MUTUAL LIFE INSURANCE Co raised its stake in shares of Flex by 83.3% in the fourth quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 11,000 shares of the technology company’s stock worth $84,000 after purchasing an additional 5,000 shares during the last quarter. 96.07% of the stock is owned by hedge funds and other institutional investors.

About Flex

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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Analyst Recommendations for Flex (NASDAQ:FLEX)

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