As of Thursday close, Flex Ltd.’s (NASDAQ:FLEX) stock was down -$0.14, moving down -0.55 percent to $25.50. The average number of shares traded per day over the past five days has been 2,906,980 shares. 2 times new highs have been achieved over the past 5 days, with a -$1.37 fall in that time frame. In the last twenty days, the average volume was 3,777,685, while in the previous 50 days, it was 3,604,632.
Since last month, FLEX stock retreated -11.43%. Shares of the company fell to $25.47 on 08/17/23, the lowest level in the past month. A 52-week high of $28.90 was reached on 07/21/23 after having rallying from a 52-week low of $16.11. Since the beginning of this year, FLEX’s stock price has risen by 18.83% or $4.04, and marked a new high 26 times. However, the stock has declined by -11.76% since its 52-week high.
FLEX stock investors should be aware that Flex Ltd. (FLEX) stock had its last reported insider trading activity 18 days ago on Jul 31. Advaithi Revathi, the Chief Executive Officer of the company, disposed of 240,000 shares for $27.29 on Jul 31. It resulted in a $6,549,264 divestment by the insider. Tan Kwang Hooi sold 5,020 shares at an average price of $26.97 on Jun 21. The insider now owns 144,208 shares following the transaction. On Jun 16, Group President Tan Kwang Hooi sold 3,602 shares at $26.80 apiece. The transaction was valued at $96,544.
Valuation Metrics
Right now, Flex Ltd. (FLEX) has a P/E ratio of about 14.81. The stock’s beta is 1.46. Besides these, the trailing price-to-sales (P/S) ratio of 0.38, the price-to-book (PB) ratio of 2.11, and the price-to-cash flow ratio of 51.84 may also be considered.
Financial Health
In the three months ended June 29, Flex Ltd.’s quick ratio stood at 0.80, while its current ratio was 1.50, showing that the company is not able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending June 29 was 0.64, and the total debt-to-equity ratio was 0.67. On the profitability front, the trailing twelve-month gross margin is 7.80% percent. In the year ended June 29, EBITDA margin amounted to 6.32%, whereas operating margins totaled 4.00%. Based on annual data, FLEX earned $2.27 billion in gross profit and brought in $30.35 billion in revenue.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 13.50%. Return on equity (ROE) for the past 12 months was 16.30%.
In Flex Ltd.’s quarter-end financial report for June 29, it reported total debt of $3.44 billion. According to the earnings report, the company had a lower net income in the recent quarter than it did in the previous quarter. FLEX’s revenue fell -0.38% to $7.46 billion during the quarter, while net income inched up to $7.32 billion. While analysts expected Flex Ltd. to report $0.51 quarterly earnings, the actual figure was $0.57 per share, beating the consensus estimate by 11.80%. During the quarter, the company generated $424.0 million in EBITDA. The liabilities of Flex Ltd. were 15.15 billion at the end of its most recent quarter ended June 29, and its total debt was $4.11 billion. The value of shareholders’ equity is $446.63 million.
Technical Picture
This quick technical analysis looks at Flex Ltd.’s (FLEX) price momentum. With a historical volatility rate of 18.32%, the RSI 9-day stood at 25.24% on 17 August.
With respect to its five-day moving average, the current Flex Ltd. price is down by -5.10% percent or -$1.37. At present, FLEX shares trade -10.08% below its 20-day simple moving average and +21.49% percent above its 100-day simple moving average. However, the stock is currently trading approximately -2.78% below its SMA50 and +29.31% above its SMA200.
Stochastic coefficient K was 4.82% and Stochastic coefficient D was 8.03%, while ATR was 0.61. Given the Stochastic reading of 1.43% for the 14-day period, the RSI (14) reading has been calculated as 32.47%. As of today, the MACD Oscillator reading stands at -0.81, while the 14-day reading stands at -0.98.
Analyst Ratings
Flex Ltd. (FLEX) has been rated Buy by analysts. According to 0 brokerage firms, FLEX is a sell, and 2 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 0 analysts rate Flex Ltd. stock as buy, with 8 recommending it as overweight.
With a median target price of $32.00, the current consensus forecast for the stock is $31.00 – $36.00. Based on these forecasts, analysts predict Flex Ltd. (FLEX) will achieve an average price target of $32.86.
