Flex (NASDAQ:FLEX) Lowered to “Sell” at BidaskClub

BidaskClub downgraded shares of Flex (NASDAQ:FLEX) from a hold rating to a sell rating in a research report sent to investors on Wednesday morning, BidAskClub reports.

Other equities research analysts have also issued research reports about the company. ValuEngine lowered Flex from a strong-buy rating to a buy rating in a report on Friday, October 4th. Zacks Investment Research raised Flex from a strong sell rating to a hold rating and set a $8.75 price objective for the company in a report on Wednesday, September 25th. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company’s stock. Flex has a consensus rating of Hold and an average target price of $10.19.

Shares of FLEX opened at $9.82 on Wednesday. The business has a 50-day moving average of $10.13 and a 200 day moving average of $10.17. Flex has a fifty-two week low of $6.74 and a fifty-two week high of $12.54. The firm has a market cap of $4.91 billion, a P/E ratio of 54.56, a price-to-earnings-growth ratio of 1.25 and a beta of 1.84. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.76 and a current ratio of 1.26.

Flex (NASDAQ:FLEX) last announced its quarterly earnings data on Thursday, July 25th. The technology company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.11). Flex had a return on equity of 0.73% and a net margin of 0.09%. The firm had revenue of $6.18 billion during the quarter, compared to analysts’ expectations of $6.25 billion. During the same period last year, the business posted $0.24 EPS. The company’s revenue was down 3.5% compared to the same quarter last year. As a group, research analysts predict that Flex will post 0.49 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Cerebellum GP LLC boosted its stake in Flex by 4.0% in the 3rd quarter. Cerebellum GP LLC now owns 38,742 shares of the technology company’s stock worth $405,000 after purchasing an additional 1,473 shares during the period. Macquarie Group Ltd. boosted its stake in Flex by 3.2% in the 2nd quarter. Macquarie Group Ltd. now owns 5,063,993 shares of the technology company’s stock worth $48,462,000 after purchasing an additional 157,948 shares during the period. Park West Asset Management LLC bought a new position in Flex in the 2nd quarter worth about $957,000. Rehmann Capital Advisory Group boosted its stake in Flex by 10.5% in the 2nd quarter. Rehmann Capital Advisory Group now owns 23,562 shares of the technology company’s stock worth $225,000 after purchasing an additional 2,236 shares during the period. Finally, Atria Investments LLC bought a new position in Flex in the 2nd quarter worth about $204,000. Institutional investors and hedge funds own 93.69% 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.

See Also: What is the Coverage Ratio?

Analyst Recommendations for Flex (NASDAQ:FLEX)

Receive News & Ratings for Flex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Flex and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit