Short Interest in Flexsteel Industries, Inc. (NASDAQ:FLXS) Increases By 50.2%

Flexsteel Industries, Inc. (NASDAQ:FLXS) saw a large growth in short interest in April. As of April 15th, there was short interest totalling 34,700 shares, a growth of 50.2% from the March 31st total of 23,100 shares. Based on an average daily trading volume, of 28,200 shares, the short-interest ratio is presently 1.2 days. Approximately 1.0% of the shares of the stock are sold short.

Flexsteel Industries Price Performance

Shares of FLXS traded down $1.02 during midday trading on Friday, reaching $37.61. The stock had a trading volume of 18,120 shares, compared to its average volume of 22,175. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.07 and a quick ratio of 0.90. The company has a market capitalization of $193.69 million, a P/E ratio of 12.97, a P/E/G ratio of 1.65 and a beta of 0.53. The firm’s 50 day moving average price is $36.44 and its 200-day moving average price is $26.64. Flexsteel Industries has a 52 week low of $15.67 and a 52 week high of $41.64.

Flexsteel Industries (NASDAQ:FLXS) last issued its earnings results on Monday, February 5th. The company reported $0.57 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.57. The business had revenue of $100.11 million for the quarter, compared to analysts’ expectations of $100.09 million. Flexsteel Industries had a return on equity of 5.13% and a net margin of 3.86%. On average, analysts forecast that Flexsteel Industries will post 1.95 earnings per share for the current fiscal year.

Flexsteel Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, April 4th. Investors of record on Tuesday, March 26th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date was Monday, March 25th. Flexsteel Industries’s payout ratio is 20.69%.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. StockNews.com downgraded Flexsteel Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, April 17th. TheStreet raised Flexsteel Industries from a “c” rating to a “b-” rating in a research note on Monday, February 5th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Barclays PLC purchased a new position in shares of Flexsteel Industries during the third quarter valued at $40,000. Victory Capital Management Inc. purchased a new position in shares of Flexsteel Industries during the fourth quarter valued at $92,000. Denali Advisors LLC purchased a new position in shares of Flexsteel Industries during the first quarter valued at $127,000. Weitzel Financial Services Inc. purchased a new position in shares of Flexsteel Industries during the first quarter valued at $264,000. Finally, Marion Wealth Management grew its stake in Flexsteel Industries by 7.1% in the first quarter. Marion Wealth Management now owns 29,837 shares of the company’s stock valued at $1,113,000 after purchasing an additional 1,979 shares in the last quarter. Hedge funds and other institutional investors own 36.27% of the company’s stock.

Flexsteel Industries Company Profile

Flexsteel Industries, Inc, together with its subsidiaries, operates as a manufacturer, importer, and markets of upholstered furniture for residential and contract markets in the United States. It provides upholstered furniture, such as sofas, loveseats, chairs, reclining rocking chairs, swivel rockers, sofa beds, convertible bedding units, occasional tables, desks, dining tables and chairs, kitchen storage, bedroom furniture, and outdoor furniture.