Omega Flex (NASDAQ:OFLX) Upgraded at BidaskClub

BidaskClub upgraded shares of Omega Flex (NASDAQ:OFLX) from a hold rating to a buy rating in a research note issued to investors on Tuesday morning, BidAskClub reports.

OFLX stock opened at $134.10 on Tuesday. Omega Flex has a 12 month low of $50.38 and a 12 month high of $144.32. The firm has a market cap of $1.35 billion, a PE ratio of 80.78 and a beta of 0.84. The firm has a 50 day simple moving average of $130.59 and a 200 day simple moving average of $103.59.

Omega Flex (NASDAQ:OFLX) last released its quarterly earnings results on Thursday, July 16th. The industrial products company reported $0.35 earnings per share (EPS) for the quarter. Omega Flex had a net margin of 16.06% and a return on equity of 36.18%. The business had revenue of $21.82 million for the quarter.

Several hedge funds have recently added to or reduced their stakes in OFLX. Bank of Montreal Can acquired a new stake in shares of Omega Flex during the second quarter valued at approximately $25,000. Advisor Group Holdings Inc. acquired a new stake in shares of Omega Flex during the first quarter valued at approximately $34,000. BNP Paribas Arbitrage SA raised its holdings in shares of Omega Flex by 120.1% during the first quarter. BNP Paribas Arbitrage SA now owns 896 shares of the industrial products company’s stock valued at $76,000 after acquiring an additional 489 shares during the period. Metropolitan Life Insurance Co NY acquired a new stake in shares of Omega Flex during the first quarter valued at approximately $78,000. Finally, Citigroup Inc. raised its holdings in shares of Omega Flex by 51.7% during the first quarter. Citigroup Inc. now owns 983 shares of the industrial products company’s stock valued at $83,000 after acquiring an additional 335 shares during the period. Institutional investors and hedge funds own 33.07% of the company’s stock.

Omega Flex Company Profile

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.

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