Flex (NASDAQ:FLEX) Upgraded at StockNews.com

StockNews.com upgraded shares of Flex (NASDAQ:FLEX) from a hold rating to a buy rating in a report released on Friday morning.

Several other equities analysts have also issued reports on the company. Craig Hallum upped their target price on Flex from $39.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, October 31st. The Goldman Sachs Group set a $39.00 target price on Flex in a research note on Thursday, October 17th. Stifel Nicolaus increased their price target on shares of Flex from $40.00 to $48.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. KeyCorp started coverage on shares of Flex in a research report on Tuesday, October 22nd. They issued an “overweight” rating and a $41.00 price objective on the stock. Finally, Barclays increased their target price on shares of Flex from $39.00 to $43.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $42.67.

Flex Trading Up 1.0 %

NASDAQ:FLEX opened at $44.27 on Friday. Flex has a one year low of $22.57 and a one year high of $45.10. The company has a market cap of $17.17 billion, a PE ratio of 19.59, a PEG ratio of 2.81 and a beta of 1.10. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.43 and a quick ratio of 0.85. The firm has a 50-day moving average of $39.79 and a 200-day moving average of $35.12.

Insider Transactions at Flex

In other Flex news, Director Charles K. Stevens III sold 13,157 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $38.69, for a total value of $509,044.33. Following the completion of the sale, the director now owns 55,713 shares of the company’s stock, valued at $2,155,535.97. This represents a 19.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.82% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Flex

Hedge funds and other institutional investors have recently modified their holdings of the stock. Harbor Capital Advisors Inc. purchased a new stake in Flex during the 3rd quarter valued at $29,000. R Squared Ltd purchased a new stake in shares of Flex during the fourth quarter worth about $35,000. Huntington National Bank grew its stake in shares of Flex by 87.9% in the third quarter. Huntington National Bank now owns 1,024 shares of the technology company’s stock worth $34,000 after purchasing an additional 479 shares during the last quarter. Kathleen S. Wright Associates Inc. purchased a new position in Flex during the 3rd quarter valued at about $39,000. Finally, Quarry LP bought a new position in Flex during the 2nd quarter valued at approximately $43,000. Institutional investors own 94.30% of the company’s stock.

Flex Company Profile

Flex Ltd. provides technology, supply chain, and manufacturing solutions in Asia, the Americas, and Europe. It operates through three segments: Flex Agility Solutions (FAS), Flex Reliability Solutions (FRS), and Nextracker. The FAS segment offers flexible supply and manufacturing system comprising communications, enterprise and cloud solution, which includes data, edge, and communications infrastructure; lifestyle solution including appliances, consumer packaging, floorcare, micro mobility, and audio; and consumer devices, such as mobile and high velocity consumer devices.