Omega Flex (OFLX) Stock Rating Lowered by BidaskClub

Omega Flex (NASDAQ:OFLX) was downgraded by equities research analysts at BidaskClub from a “buy” rating to a “hold” rating in a report issued on Wednesday.

Omega Flex stock opened at $74.81 on Wednesday. Omega Flex has a 12 month low of $53.50 and a 12 month high of $95.00. The company has a market capitalization of $758.40 million, a P/E ratio of 43.69 and a beta of 0.90.

Omega Flex (NASDAQ:OFLX) last posted its quarterly earnings data on Thursday, July 19th. The industrial products company reported $0.47 EPS for the quarter. Omega Flex had a return on equity of 30.26% and a net margin of 16.66%. The business had revenue of $26.85 million for the quarter.

Institutional investors have recently bought and sold shares of the stock. Brown Advisory Inc. purchased a new position in Omega Flex in the second quarter valued at approximately $3,623,000. Millennium Management LLC purchased a new position in Omega Flex in the fourth quarter valued at approximately $207,000. Kayne Anderson Rudnick Investment Management LLC lifted its stake in Omega Flex by 7.0% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,010,027 shares of the industrial products company’s stock valued at $65,753,000 after purchasing an additional 65,931 shares during the last quarter. WealthTrust Fairport LLC purchased a new position in Omega Flex in the first quarter valued at approximately $130,000. Finally, Dimensional Fund Advisors LP lifted its stake in Omega Flex by 3.0% in the first quarter. Dimensional Fund Advisors LP now owns 276,250 shares of the industrial products company’s stock valued at $17,984,000 after purchasing an additional 7,974 shares during the last quarter. Institutional investors and hedge funds own 25.84% 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.

See Also: Fiduciary

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