Flex Ltd. (NASDAQ:FLEX) saw an upside of 0.35% to $26.08 after adding $0.09 on Tuesday. The 5-day average trading volume is 2,092,199 shares of the company’s common stock. It has gained $26.43 in the past week and touched a new high 2 times within the past 5 days. An average of 3,226,230 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 3,502,690.
FLEX’s 1-month performance is -7.42% or -$2.28 on its low of $25.06 reached on 08/18/23. The company’s shares have touched a 52-week low of $16.11 and high of $28.90, with the stock’s rally to the 52-week high happening on 07/21/23. YTD, FLEX has achieved 21.53% or $4.66 and has reached a new high 26 times. However, the current price is down -9.76% from the 52-week high price.
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Insider Transactions
FLEX stock investors last saw insider trading activity on Jul 31.Advaithi Revathi (Chief Executive Officer) most recently sold 240,000 shares at $27.29 per share on Jul 31. This transaction cost the insider $6,549,264. Group President, Tan Kwang Hooi, sold 5,020 shares at a price of $26.97 on Jun 21. Then, on Jun 16, Group President Tan Kwang Hooi sold 3,602 shares at a price of $26.80 per share. This transaction amounted to $96,544.
Valuation Metrics
FLEX stock has a beta of 1.45. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 0.38 while the price-to-book (PB) in the most recent quarter is 2.16, with the price to cash flow ratio at 51.83.
Flex Ltd.’s quick ratio for the period ended June 29 was 0.80, with the current ratio over the same period at 1.50. As well, the company’s long term debt to equity for the quarter ending June 29 was 0.64, while the total debt to equity was 0.67. In terms of profitability, the gross margin trailing 12 months is 7.80%. The trailing 12-month EBITDA margin is 6.32% while for the period ending June 29, Flex Ltd.’s operating margin was 4.00%. The firm’s gross profit as reported stood at $2.27 billion against revenue of $30.35 billion.
Earnings Surprise
For the quarterly period ending June 29 this year, Net income and sales went down compared to those figures reported in the previous quarter. Net income shrunk -1.61% to $186.0 million, while revenue of $142.0 million was 23.66% off the previous quarter. Analysts expected FLEX to announce $0.51 per share in earnings in its latest quarter, but it posted $0.57, representing a 11.80% surprise. EBITDA for the quarter stood at more than $424.0 million. FLEX stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 15.15 billion, with total debt at $4.11 billion. Shareholders hold equity totaling $446.63 million.
Let’s look briefly at Flex Ltd. (FLEX) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 21 August was 41.02% to suggest the stock is trending Neutral, with historical volatility in this time period at 18.33%.
The stock’s 5-day moving average is $25.79, reflecting a -0.51% or -$0.14 change from its current price. FLEX is currently trading -8.11% above its 20-day SMA, +17.95% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -0.82% and SMA200 by+33.99%.
Stochastic %K and %D was 35.14% and 22.01% and the average true range (ATR) pointed at 0.58. The RSI (14) points at 41.90%, while the 14-day stochastic is at 42.37% with the period’s ATR at 0.59. The stock’s 9-day MACD Oscillator is pointing at -0.20 and -0.56 on the 14-day charts.
Analyst Ratings
Analysts offering their rating for FLEX stock have a consensus rating for the stock as Buy. Currently, 0 brokerage advisors rate FLEX as a “sell,”, while 2 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 0 rates the stock as overweight while 8 have offered a “buy” rating.
What is FLEX’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $31.00 and a high of $36.00, with their median price target at $32.00. Looking at these predictions, the average price target given by analysts is for Flex Ltd. (FLEX) stock is $32.86.
