Flexsteel Industries (NASDAQ:FLXS – Get Free Report) was upgraded to a “buy” rating from a “hold” rating by StockNews.com in a report released on Wednesday.

Price development of Flexsteel Industries

FLXS shares opened at $41.20 on Wednesday. The company has a market cap of $212.43 million, a price-to-earnings ratio of 13.97, a PEG ratio of 1.00 and a beta of 0.49. The stock has a 50-day moving average of $34.64 and a 200-day moving average of $35.26. The company has a current ratio of 2.79, a quick ratio of 0.99 and a debt-to-equity ratio of 0.10. Flexsteel Industries has a 52-week low of $15.67 and a 52-week high of $42.00.

Institutional Trading of Flexsteel Industries

A number of hedge funds and other institutional investors have recently made changes to their holdings of FLXS. Victory Capital Management Inc. purchased a new stake in shares of Flexsteel Industries in the 4th quarter worth $92,000. Denali Advisors LLC purchased a new stake in shares of Flexsteel Industries in the 1st quarter worth $127,000. Rhumbline Advisers increased its stake in shares of Flexsteel Industries by 1,647.7% in the 2nd quarter. Rhumbline Advisers now owns 5,313 shares of the company’s stock worth $165,000 after purchasing an additional 5,009 shares in the last quarter. Hillsdale Investment Management Inc. purchased a new stake in shares of Flexsteel Industries in the 1st quarter worth $195,000. Finally, Marshall Wace LLP purchased a new stake in shares of Flexsteel Industries in the 2nd quarter worth $217,000. Institutional investors own 36.27% of the company’s shares.

Company Profile of Flexsteel Industries

(Get free report)

Flexsteel Industries, Inc., together with its subsidiaries, is a manufacturer, importer and market leader in upholstered furniture for residential and contract markets in the United States. It supplies upholstered furniture such as sofas, loveseat sofas, chairs, reclining rocking chairs, swivel rocking chairs, sleeper sofas, convertible bed units, side tables, desks, dining tables and chairs, kitchen storage, bedroom furniture and outdoor furniture.

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