Stock Mover of the Day: Time to Reconsider Flexsteel Industries, Inc. After Touching 52-Week High?

Stock Mover of the Day: Time to Reconsider Flexsteel Industries, Inc. After Touching 52 Week High?

The stock of Flexsteel Industries, Inc. (NASDAQ:FLXS) hit a new 52-week high and has $58.28 target or 5.00% above today’s $55.50 share price. The 5 months bullish chart indicates low risk for the $434.90M company. The 1-year high was reported on Nov, 25 by Barchart.com. If the $58.28 price target is reached, the company will be worth $21.75M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 18,175 shares traded hands. Flexsteel Industries, Inc. (NASDAQ:FLXS) has risen 33.10% since April 22, 2016 and is uptrending. It has outperformed by 27.69% the S&P500.

Analysts await Flexsteel Industries, Inc. (NASDAQ:FLXS) to report earnings on February, 2.

According to Zacks Investment Research, “Flexsteel Industries Inc. is engaged in the design, manufacture and sale of a broad line of quality upholstered furniture for residential, commercial, and recreational vehicle seating use. Flexsteel primarily distributes its products throughout most of the United States through their sales force to furniture dealers, department stores, recreational vehicle manufacturers and van converters, and hospitality and healthcare facilities. The products are also sold to several national chains, some of which sell on a private label basis.”

Insitutional Activity: The institutional sentiment increased to 2.26 in Q2 2016. Its up 0.74, from 1.52 in 2016Q1. The ratio is positive, as 7 funds sold all Flexsteel Industries, Inc. shares owned while 20 reduced positions. 12 funds bought stakes while 29 increased positions. They now own 4.66 million shares or 1.65% more from 4.59 million shares in 2016Q1.
Blackrock Institutional Na has 178,095 shares for 0% of their US portfolio. Metropolitan Life New York holds 4,493 shares or 0% of its portfolio. Jnba Advsr, a Minnesota-based fund reported 96 shares. Wellington Mngmt Gp Limited Liability Partnership holds 445,447 shares or 0% of its portfolio. Sei Investments Company accumulated 107 shares or 0% of the stock. California State Teachers Retirement System has invested 0% of its portfolio in Flexsteel Industries, Inc. (NASDAQ:FLXS). Franklin Resources last reported 76,700 shares in the company. Acadian Asset Management Ltd last reported 0.02% of its portfolio in the stock. Blackrock Inv Mgmt Lc holds 26,941 shares or 0% of its portfolio. The Minnesota-based Punch Assocs has invested 0.2% in Flexsteel Industries, Inc. (NASDAQ:FLXS). Millennium Mngmt Ltd Com accumulated 0% or 6,446 shares. Parametric Portfolio Assocs Limited Liability Com reported 15,117 shares or 0% of all its holdings. Morgan Stanley reported 10,436 shares or 0% of all its holdings. Tfs Cap Lc holds 0.22% or 30,390 shares in its portfolio. Moreover, Lsv Asset Mngmt has 0% invested in Flexsteel Industries, Inc. (NASDAQ:FLXS) for 47,331 shares.

Insider Transactions: Since June 9, 2016, the stock had 0 insider purchases, and 5 insider sales for $2.13 million net activity. $130,539 worth of Flexsteel Industries, Inc. (NASDAQ:FLXS) shares were sold by BERTSCH JEFFREY T. 1,670 shares were sold by Uridil Nancy E, worth $67,954 on Thursday, June 9. Bizzis Julia K also sold $351,158 worth of Flexsteel Industries, Inc. (NASDAQ:FLXS) shares.

More news for Flexsteel Industries, Inc. (NASDAQ:FLXS) were recently published by: Quotes.Wsj.com, which released: “News Flexsteel Industries Inc.FLXS” on February 11, 2011. Nasdaq.com‘s article titled: “Chuck Royce Adds to Stake in Flexsteel Industries” and published on April 09, 2016 is yet another important article.

FLXS Company Profile

Flexsteel Industries, Inc., incorporated on December 27, 1929, is a manufacturer, importer, marketer and distributor of residential and commercial upholstered and wood furniture products in the United States. The Firm distributes its products throughout the United States through its sales force and various independent representatives. The Firm operates manufacturing facilities that are located in Arkansas, California, Georgia, Iowa, Mississippi and Juarez, Mexico.

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