ValuEngine Downgrades Flex (FLEX) to Buy

Flex (NASDAQ:FLEX) was downgraded by research analysts at ValuEngine from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Friday.

Several other equities research analysts have also recently commented on FLEX. BidaskClub cut shares of Flex from a “buy” rating to a “hold” rating in a research report on Saturday, December 2nd. UBS reaffirmed a “buy” rating and issued a $21.50 target price on shares of Flex in a research report on Tuesday, December 19th. Needham & Company LLC raised their target price on shares of Flex from $19.00 to $21.00 and gave the stock a “buy” rating in a research report on Friday, January 26th. Bank of America raised their target price on shares of Flex from $20.00 to $22.00 and gave the stock a “buy” rating in a research report on Friday, January 26th. Finally, Stifel Nicolaus raised their target price on shares of Flex from $20.00 to $22.00 and gave the stock a “buy” rating in a research report on Friday, January 26th. One 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 stock. The company currently has a consensus rating of “Buy” and a consensus price target of $20.56.

Flex (NASDAQ:FLEX) traded down $0.74 during trading hours on Friday, hitting $16.66. 3,714,341 shares of the stock traded hands, compared to its average volume of 4,443,687. Flex has a 12-month low of $14.70 and a 12-month high of $19.71. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.72 and a current ratio of 1.22. The stock has a market cap of $9,466.32, a PE ratio of 16.83, a price-to-earnings-growth ratio of 0.99 and a beta of 0.78.

Flex (NASDAQ:FLEX) last posted its earnings results on Thursday, January 25th. The technology company reported $0.31 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.31. Flex had a net margin of 2.15% and a return on equity of 20.44%. The firm had revenue of $6.75 billion during the quarter, compared to analysts’ expectations of $6.50 billion. During the same period last year, the company posted $0.34 EPS. The company’s quarterly revenue was up 10.4% compared to the same quarter last year. equities research analysts expect that Flex will post 1.08 earnings per share for the current fiscal year.

In related news, Director Willy C. Shih sold 13,597 shares of the stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $17.91, for a total value of $243,522.27. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.83% of the stock is owned by company insiders.

Several institutional investors have recently modified their holdings of the stock. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in shares of Flex by 34.7% in the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 291,302 shares of the technology company’s stock worth $5,241,000 after acquiring an additional 75,120 shares in the last quarter. South Street Advisors LLC increased its stake in shares of Flex by 4.7% in the 4th quarter. South Street Advisors LLC now owns 238,570 shares of the technology company’s stock worth $4,291,000 after acquiring an additional 10,730 shares in the last quarter. Zeke Capital Advisors LLC increased its stake in shares of Flex by 144.4% in the 4th quarter. Zeke Capital Advisors LLC now owns 123,485 shares of the technology company’s stock worth $2,221,000 after acquiring an additional 72,968 shares in the last quarter. LPL Financial LLC increased its stake in shares of Flex by 22.4% in the 4th quarter. LPL Financial LLC now owns 71,417 shares of the technology company’s stock worth $1,285,000 after acquiring an additional 13,073 shares in the last quarter. Finally, Sciencast Management LP bought a new position in shares of Flex in the 4th quarter worth about $226,000. Institutional investors own 97.59% of the company’s stock.

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Flex Company Profile

Flex Ltd. provides design, engineering, manufacturing, and supply chain services and solutions to original equipment manufacturers worldwide. It offers innovation services, such as innovations labs for supporting customer design and product development services from early concept stages; collective innovation platform, an ecosystem of technology solutions; Lab IX, a startup accelerator program; centers of excellence solutions in critical areas; interconnect technology center for printed circuits; and CloudLabs that enables customers to accelerate a spectrum of cloud, converged infrastructure, and datacenter strategies.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Flex (NASDAQ:FLEX)

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