Flex (NASDAQ:FLEX) Upgraded at BidaskClub

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Flex (NASDAQ:FLEX) was upgraded by research analysts at BidaskClub from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday, BidAskClub reports.

FLEX has been the topic of several other reports. Zacks Investment Research downgraded Flex from a “buy” rating to a “hold” rating in a research report on Tuesday, May 7th. ValuEngine downgraded Flex from a “hold” rating to a “sell” rating in a research report on Friday, March 1st. JPMorgan Chase & Co. upgraded Flex from a “neutral” rating to an “overweight” rating and set a $12.00 price objective on the stock in a research report on Wednesday, May 29th. Finally, Goldman Sachs Group upgraded Flex from a “neutral” rating to a “buy” rating and set a $11.00 price objective on the stock in a research report on Thursday, June 6th. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $12.00.

Flex stock opened at $9.41 on Tuesday. The company has a current ratio of 1.20, a quick ratio of 0.71 and a debt-to-equity ratio of 0.81. The firm has a market capitalization of $4.93 billion, a price-to-earnings ratio of 52.28, a PEG ratio of 0.60 and a beta of 1.85. Flex has a fifty-two week low of $6.74 and a fifty-two week high of $15.38.

Flex (NASDAQ:FLEX) last posted its earnings results on Tuesday, April 30th. The technology company reported $0.27 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.27. The company had revenue of $6.20 billion for the quarter, compared to analyst estimates of $6.41 billion. Flex had a return on equity of 3.03% and a net margin of 0.36%. Flex’s revenue was down 3.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.28 earnings per share. Equities analysts predict that Flex will post 0.98 EPS for the current year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FLEX. Front Row Advisors LLC lifted its position in Flex by 646.9% during the first quarter. Front Row Advisors LLC now owns 2,547 shares of the technology company’s stock worth $25,000 after buying an additional 2,206 shares during the period. Willingdon Wealth Management purchased a new position in Flex during the first quarter worth about $27,000. Whittier Trust Co. of Nevada Inc. lifted its position in Flex by 119.7% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 3,825 shares of the technology company’s stock worth $29,000 after buying an additional 2,084 shares during the period. Fiera Capital Corp purchased a new position in Flex during the fourth quarter worth about $80,000. Finally, Blueshift Asset Management LLC purchased a new position in Flex during the fourth quarter worth about $96,000. Hedge funds and other institutional investors own 94.50% of the company’s stock.

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.

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