Flex (NASDAQ:FLEX) Upgraded to Hold at BidaskClub
Several other brokerages have also recently commented on FLEX. ValuEngine raised shares of Flex from a buy rating to a strong-buy rating in a research report on Thursday, August 1st. Goldman Sachs Group raised shares of Flex from a neutral rating to a buy rating and set a $11.00 price target for the company in a research 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 for the company in a research report on Wednesday, May 29th. Finally, Zacks Investment Research raised shares of Flex from a strong sell rating to a hold rating and set a $9.50 price target for the company in a research report on Wednesday, July 31st. Six research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average target price of $10.38.
Shares of NASDAQ:FLEX traded down $0.06 during mid-day trading on Thursday, reaching $10.86. 2,124,056 shares of the company were exchanged, compared to its average volume of 6,165,757. 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 firm has a market cap of $5.66 billion, a price-to-earnings ratio of 60.33, a P/E/G ratio of 1.42 and a beta of 1.83. The firm’s 50-day simple moving average is $10.24 and its 200 day simple moving average is $10.17. Flex has a 1 year low of $6.74 and a 1 year high of $13.54.
In other news, EVP David Scott Offer sold 6,369 shares of the firm’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $9.56, for a total value of $60,887.64. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Francois Barbier sold 23,454 shares of the firm’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $9.00, for a total transaction of $211,086.00. The disclosure for this sale can be found here. Insiders sold a total of 131,874 shares of company stock worth $1,237,682 over the last 90 days. Company insiders own 0.42% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Front Row Advisors LLC raised its stake in Flex by 646.9% during the 1st quarter. Front Row Advisors LLC now owns 2,547 shares of the technology company’s stock worth $25,000 after acquiring an additional 2,206 shares in the last quarter. Steward Partners Investment Advisory LLC acquired a new stake in Flex during the 2nd quarter worth $25,000. Willingdon Wealth Management acquired a new stake in Flex during the 1st quarter worth $27,000. Shine Investment Advisory Services Inc. raised its stake in Flex by 33.6% during the 2nd quarter. Shine Investment Advisory Services Inc. now owns 4,071 shares of the technology company’s stock worth $39,000 after acquiring an additional 1,024 shares in the last quarter. Finally, Rockefeller Capital Management L.P. acquired a new stake in Flex during the 2nd quarter worth $40,000. Institutional investors and hedge funds own 93.70% of the company’s stock.
Flex Company Profile
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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