Flex (FLEX) Upgraded at BidaskClub

BidaskClub upgraded shares of Flex (NASDAQ:FLEX) from a hold rating to a buy rating in a research report released on Thursday, April 11th, BidAskClub reports.

A number of other brokerages have also weighed in on FLEX. Zacks Investment Research raised shares of Flex from a strong sell rating to a hold rating in a research note on Monday, December 31st. ValuEngine upgraded shares of Flex from a hold rating to a buy rating in a research note on Thursday, January 31st. Finally, JPMorgan Chase & Co. downgraded shares of Flex from an overweight rating to a neutral rating and reduced their price objective for the stock from $14.00 to $12.00 in a research note on Wednesday, January 2nd. Nine investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock has an average rating of Hold and an average price target of $12.33.

Shares of FLEX remained flat at $$11.31 on Thursday. The stock had a trading volume of 4,791,479 shares, compared to its average volume of 6,629,249. The company has a quick ratio of 0.75, a current ratio of 1.26 and a debt-to-equity ratio of 0.94. Flex has a fifty-two week low of $6.74 and a fifty-two week high of $15.38. The firm has a market cap of $5.90 billion, a P/E ratio of 62.83, a P/E/G ratio of 0.92 and a beta of 1.80.

Flex (NASDAQ:FLEX) last issued its earnings results on Tuesday, April 30th. The technology company reported $0.27 EPS for the quarter, meeting the consensus estimate of $0.27. Flex had a net margin of 0.36% and a return on equity of 2.99%. The company had revenue of $6.20 billion during the quarter, compared to analysts’ expectations of $6.41 billion. During the same quarter in the previous year, the company posted $0.28 EPS. The business’s revenue for the quarter was down 3.3% compared to the same quarter last year. Sell-side analysts anticipate that Flex will post 1.02 EPS for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the company. Whittier Trust Co. of Nevada Inc. boosted its position in shares of Flex by 119.7% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 3,825 shares of the technology company’s stock worth $29,000 after acquiring an additional 2,084 shares in the last quarter. New Jersey Better Educational Savings Trust acquired a new stake in shares of Flex during the 1st quarter worth approximately $100,000. Fiera Capital Corp acquired a new stake in shares of Flex during the 4th quarter worth approximately $80,000. FUKOKU MUTUAL LIFE INSURANCE Co boosted its position in shares of Flex by 83.3% during the 4th quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 11,000 shares of the technology company’s stock worth $84,000 after acquiring an additional 5,000 shares in the last quarter. Finally, Wetherby Asset Management Inc. acquired a new stake in shares of Flex during the 4th quarter worth approximately $90,000. 93.65% of the stock is currently owned by institutional investors.

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.

Further Reading: Certificate of Deposit (CD)

Analyst Recommendations for Flex (NASDAQ:FLEX)

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