Flex Ltd (FLEX) concluded trading on Wednesday at a closing price of $27.27, with 5.24 million shares of worth about $142.83 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 44.25% during that period and on Wednesday the price saw a loss of about -1.66%. Currently the company’s common shares owned by public are about 450.12M shares, out of which, 418.45M shares are available for trading.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 76 times over the past 12 months. They bought 1,763,320 shares in 29 of the transactions. In 47 selling transactions, insiders dumped 1,315,663 shares.
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However, the stock later moved at a day high price of 27.62, or with a loss of -1.66%. Stock saw a price change of 0.70% in past 5 days and over the past one month there was a price change of 17.70%. Year-to-date (YTD), FLEX shares are showing a performance of 23.08% which increased to 57.98% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $14.14 but also hit the highest price of $29.02 during that period. The average intraday trading volume for Flex Ltd shares is 6.06 million. The stock is currently trading 7.81% above its 20-day simple moving average (SMA20), while that difference is up 17.32% for SMA50 and it goes to 36.05% higher than SMA200.
Flex Ltd (NASDAQ: FLEX) currently have 450.12M outstanding shares and institutions hold larger chunk of about 96.75% of that.
The stock has a current market capitalization of $11.49B and its 3Y-monthly beta is at 1.18. PE ratio of stock for trailing 12 months is 16.24, while it has posted earnings per share of $1.68 in the same period. Its PEG reads 1.04 and has Quick Ratio of 0.86 while making debt-to-equity ratio of 0.66. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for FLEX, volatility over the week remained 2.42% while standing at 2.71% over the month.
Analysts are in expectations that Flex Ltd (FLEX) stock would likely to be making an EPS of $0.55 in the current quarter, while forecast for next quarter EPS is $0.55 and it is $2.46 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.55 which is $0.57 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.6 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 46.36% while it is estimated to decrease by -2.18% in next year. EPS is likely to shrink at an annualized rate of 15.60% for next 5-years, compared to annual growth of 16.61% made by the stock over the past 5-years.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Barclays on September 07, 2023 offering an Overweight rating for the stock and assigned a target price of $35 to it. Coverage by JP Morgan stated Flex Ltd (FLEX) stock as an Overweight in their note to investors on July 05, 2023, suggesting a price target of $30 for the stock. On August 17, 2022, Credit Suisse Initiated their recommendations, while on May 18, 2022, Argus Upgrade their ratings for the stock with a price target of $22. Stock get a Buy rating from Cross Research on May 06, 2021.
