Flexsteel Is Going In The Right Direction But Is Too Expensive [Seeking Alpha]
Flexsteel Industries, Inc. (FLXS)
US:NASDAQ Investor Relations:
flexsteel.com/content/investors
Company Research
Source: Seeking Alpha
The company's new management has implemented strategies to expand its customer base, product lines, and sales channels. Despite the positive developments, the stock is considered too expensive at its current price, and I prefer to wait for better prices and a better understanding of the management's performance. Flexsteel Industries ( NASDAQ: FLXS ) is a US furniture manufacturer specializing in mid-range sofas. Last year, I wrote about the company with a Hold rating. The reasons were problems with restructuring throughout the pandemic, inadequate capital allocation before the pandemic, excessive SG&A expenses, and what I considered a high multiple on cycle-average earnings. After my article, the stock remained primarily flat for almost a year, but since January 2024, it has appreciated close to 100%. The fundamental reasons have been record profitability in recent quarters, exciting guidance towards 2024, and the announcement of the sale of properties that could lead to one-
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FLXS
News
- Flexsteel Industries, Inc. (NASDAQ: FLXS) was downgraded by analysts at StockNews.com from a "buy" rating to a "hold" rating.MarketBeat
- Flexsteel Industries, Inc. to Announce Third Quarter 2024 Results on April 29 [Yahoo! Finance]Yahoo! Finance
- Flexsteel Industries, Inc. to Announce Third Quarter 2024 Results on April 29Business Wire
- Flexsteel Industries, Inc. (NASDAQ: FLXS) was downgraded by analysts at StockNews.com from a "buy" rating to a "hold" rating.MarketBeat
- Strength Seen in Flexsteel (FLXS): Can Its 6.8% Jump Turn into More Strength? [Yahoo! Finance]Yahoo! Finance
FLXS
Earnings
- 2/5/24 - In-Line
FLXS
Analyst Actions
- 2/6/24 - TheStreet
FLXS
Sec Filings
- 4/18/24 - Form 8-K
- 3/11/24 - Form 4
- 3/11/24 - Form 4
- FLXS's page on the SEC website