Flex Ltd (NASDAQ: FLEX) has a higher price-to-earnings ratio of 15.06x compared to its average ratio, The 36-month beta value for FLEX is at 1.09. Analysts have varying views on the stock, with 6 analysts rating it as a “buy,” 6 rating it as “overweight,” 2 as “hold,” and 0 as “sell.”
The public float for FLEX is 394.23M, and currently, shorts hold a 1.78% of that float. The average trading volume for FLEX on October 09, 2024 was 3.57M shares.
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FLEX) stock’s latest price update
The stock of Flex Ltd (NASDAQ: FLEX) has decreased by -0.30 when compared to last closing price of 33.65. Despite this, the company has experienced a 2.54% gain in its stock price over the last five trading sessions. seekingalpha.com reported 2024-10-05 that FLEX LNG owns 13 LNG carriers with an average age of 4.8 years. Nine of the ships have MEGA/MEGI engines, while the other four have X-DF engines. Despite a 33% QoQ net income decline in 2Q24 due to seasonality and higher operating expenses, FLNG maintains a strong balance sheet and attractive dividends. For 2Q24, the company declared a $0.75/share quarterly dividend. At the present stock price, the LTM yield is 11.90%.
FLEX’s Market Performance
FLEX’s stock has risen by 2.54% in the past week, with a monthly rise of 16.66% and a quarterly rise of 12.02%. The volatility ratio for the week is 1.87% while the volatility levels for the last 30 days are 2.95% for Flex Ltd The simple moving average for the last 20 days is 4.39% for FLEX stock, with a simple moving average of 16.00% for the last 200 days.
Analysts’ Opinion of FLEX
Many brokerage firms have already submitted their reports for FLEX stocks, with Craig Hallum repeating the rating for FLEX by listing it as a “Buy.” The predicted price for FLEX in the upcoming period, according to Craig Hallum is $39 based on the research report published on July 25, 2024 of the current year 2024.
Craig Hallum, on the other hand, stated in their research note that they expect to see FLEX reach a price target of $27. The rating they have provided for FLEX stocks is “Hold” according to the report published on May 02nd, 2024.
Barclays gave a rating of “Overweight” to FLEX, setting the target price at $35 in the report published on September 07th of the previous year.
FLEX Trading at 7.44% from the 50-Day Moving Average
After a stumble in the market that brought FLEX to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -2.53% of loss for the given period.
Volatility was left at 2.95%, however, over the last 30 days, the volatility rate increased by 1.87%, as shares surge +18.05% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +5.47% upper at present.
During the last 5 trading sessions, FLEX rose by +2.54%, which changed the moving average for the period of 200-days by +13.38% in comparison to the 20-day moving average, which settled at $32.14. In addition, Flex Ltd saw 51.42% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at FLEX starting from Michael D. Capellas, who proposed sale 37,500 shares at the price of $28.52 back on Sep 11 ’24. After this action, Michael D. Capellas now owns shares of Flex Ltd, valued at $1,069,500 using the latest closing price.
OFFER DAVID SCOTT, the EVP, General Counsel of Flex Ltd, sale 10,000 shares at $32.95 during a trade that took place back on Aug 26 ’24, which means that OFFER DAVID SCOTT is holding 158,094 shares at $329,535 based on the most recent closing price.
Stock Fundamentals for FLEX
Current profitability levels for the company are sitting at:
- 0.05 for the present operating margin
- 0.09 for the gross margin
The net margin for Flex Ltd stands at 0.04. The total capital return value is set at 0.13. Equity return is now at value 18.44, with 4.96 for asset returns.
Based on Flex Ltd (FLEX), the company’s capital structure generated 0.39 points at debt to capital in total, while cash flow to debt ratio is standing at 0.52. The debt to equity ratio resting at 0.64. The interest coverage ratio of the stock is 6.44.
Currently, EBITDA for the company is 1.53 billion with net debt to EBITDA at 0.86. When we switch over and look at the enterprise to sales, we see a ratio of 0.58. The receivables turnover for the company is 7.45for trailing twelve months and the total asset turnover is 1.43. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.40.
Conclusion
In conclusion, Flex Ltd (FLEX) has had a better performance lately. Opinion on the stock among analysts is bullish, with some giving it a “buy” rating and others a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
