BidaskClub Downgrades Flex (FLEX) to Sell
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.
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.
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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