Flexsteel Industries (NASDAQ:FLXS) Stock Crosses Below 200 Day Moving Average – Should You Sell?

Shares of Flexsteel Industries, Inc. (NASDAQ:FLXS) passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $37.99 and traded as low as $34.50. Flexsteel Industries shares last traded at $34.94, with a volume of 25,304 shares traded.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Weiss Ratings lowered shares of Flexsteel Industries from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Saturday, October 25th. Zacks Research lowered Flexsteel Industries from a “strong-buy” rating to a “strong sell” rating in a research note on Thursday, October 16th. Finally, Wall Street Zen downgraded Flexsteel Industries from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 18th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce”.

Flexsteel Industries Stock Performance

The firm’s 50 day simple moving average is $42.39 and its 200 day simple moving average is $37.99. The firm has a market capitalization of $186.58 million, a price-to-earnings ratio of 8.50, a PEG ratio of 0.82 and a beta of 0.55.

Flexsteel Industries (NASDAQ:FLXS) last issued its earnings results on Monday, October 20th. The company reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.53. The firm had revenue of $110.44 million during the quarter, compared to analysts’ expectations of $105.38 million. Flexsteel Industries had a net margin of 5.22% and a return on equity of 16.28%. During the same quarter last year, the company posted $0.74 earnings per share. As a group, sell-side analysts forecast that Flexsteel Industries, Inc. will post 3.53 earnings per share for the current year.

Flexsteel Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 6th. Shareholders of record on Wednesday, September 24th were paid a dividend of $0.20 per share. The ex-dividend date was Wednesday, September 24th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.3%. Flexsteel Industries’s dividend payout ratio (DPR) is presently 19.46%.

Insider Activity at Flexsteel Industries

In related news, insider Michael Joseph Mcclaflin sold 2,600 shares of the firm’s stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $46.75, for a total transaction of $121,550.00. Following the sale, the insider directly owned 33,576 shares of the company’s stock, valued at $1,569,678. This trade represents a 7.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 11.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Flexsteel Industries

Hedge funds have recently bought and sold shares of the stock. Dynamic Technology Lab Private Ltd purchased a new position in shares of Flexsteel Industries during the 1st quarter valued at approximately $474,000. Cubist Systematic Strategies LLC purchased a new stake in Flexsteel Industries during the first quarter worth $314,000. Acadian Asset Management LLC grew its position in Flexsteel Industries by 32.5% during the first quarter. Acadian Asset Management LLC now owns 51,605 shares of the company’s stock valued at $1,881,000 after buying an additional 12,663 shares during the period. Rhumbline Advisers increased its holdings in Flexsteel Industries by 7.8% in the first quarter. Rhumbline Advisers now owns 7,788 shares of the company’s stock valued at $284,000 after buying an additional 565 shares in the last quarter. Finally, Strs Ohio acquired a new position in shares of Flexsteel Industries in the first quarter worth about $340,000. 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.