BidaskClub Lowers Flex (FLEX) to Sell

BidaskClub downgraded shares of Flex (NASDAQ:FLEX) from a hold rating to a sell rating in a report issued on Wednesday.

Several other brokerages also recently issued reports on FLEX. Citigroup upped their price target on Flex from $18.00 to $20.00 and gave the stock a buy rating in a report on Friday, October 27th. UBS Group upped their price target on Flex from $18.00 to $19.75 and gave the stock a buy rating in a report on Friday, October 27th. Royal Bank of Canada reiterated a buy rating and set a $19.00 price target on shares of Flex in a report on Friday, September 1st. Argus upped their price target on Flex from $20.00 to $23.00 and gave the stock a buy rating in a report on Wednesday, November 1st. Finally, Stifel Nicolaus upped their price objective on Flex from $19.00 to $20.00 and gave the company a buy rating in a research note on Friday, October 27th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the company. The stock has an average rating of Buy and a consensus price target of $19.75.

Shares of Flex (FLEX) opened at $17.99 on Wednesday. Flex has a 1-year low of $14.22 and a 1-year high of $19.11. The stock has a market capitalization of $9,507.21, a price-to-earnings ratio of 15.64, a P/E/G ratio of 0.99 and a beta of 0.81. The company has a current ratio of 1.23, a quick ratio of 0.70 and a debt-to-equity ratio of 1.01.

Flex (NASDAQ:FLEX) last announced its quarterly earnings results on Thursday, October 26th. The technology company reported $0.27 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.01. Flex had a return on equity of 22.71% and a net margin of 2.25%. The business had revenue of $6.27 billion during the quarter, compared to the consensus estimate of $6.09 billion. During the same quarter in the prior year, the company posted $0.28 earnings per share. Flex’s revenue was up 4.3% compared to the same quarter last year. analysts forecast that Flex will post 1.09 EPS for the current fiscal year.

In other Flex news, Director William D. Watkins sold 9,000 shares of the company’s stock in a transaction on Thursday, December 7th. The stock was sold at an average price of $17.73, for a total value of $159,570.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP David Scott Offer sold 45,000 shares of the company’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $17.71, for a total value of $796,950.00. The disclosure for this sale can be found here. 0.83% of the stock is owned by corporate insiders.

Large investors have recently made changes to their positions in the business. South Street Advisors LLC grew its stake in shares of Flex by 13.4% during the 3rd quarter. South Street Advisors LLC now owns 227,840 shares of the technology company’s stock worth $3,775,000 after acquiring an additional 26,900 shares during the period. Cornerstone Capital Management Holdings LLC. grew its stake in shares of Flex by 5.6% during the 3rd quarter. Cornerstone Capital Management Holdings LLC. now owns 152,663 shares of the technology company’s stock worth $2,529,000 after acquiring an additional 8,100 shares during the period. Woodmont Investment Counsel LLC bought a new position in shares of Flex during the 3rd quarter worth $244,000. Zeke Capital Advisors LLC grew its stake in shares of Flex by 320.5% during the 3rd quarter. Zeke Capital Advisors LLC now owns 50,517 shares of the technology company’s stock worth $837,000 after acquiring an additional 38,503 shares during the period. Finally, Thompson Siegel & Walmsley LLC grew its stake in shares of Flex by 9.2% during the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 4,996,536 shares of the technology company’s stock worth $82,792,000 after acquiring an additional 421,171 shares during the period. Hedge funds and other institutional investors own 95.22% of the company’s stock.

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About Flex

Flex Ltd, formerly Flextronics International Ltd. provides design, engineering, manufacturing, and supply chain services and solutions. The Company designs, builds, ships and services packaged consumer electronics and industrial products for original equipment manufacturers (OEMs). Its segments include High Reliability Solutions (HRS), Consumer Technologies Group (CTG), Industrial and Emerging Industries (IEI) and Communications & Enterprise Compute (CEC).

Analyst Recommendations for Flex (NASDAQ:FLEX)

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