At the time of writing, Flex Ltd [FLEX] stock is trading at $28.73, up 1.48%. Until recently, the best way to gauge how the stock has performed was to look at its short-term value. The FLEX shares have gain 6.64% over the last week, with a monthly amount glided 2.64%, and seem to be holding up well over a long-time horizon.
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On 4, March 2024, Flex Earns Coveted Spot on Ethisphere’s 2024 World’s Most Ethical Companies® for Second Consecutive Year. In a post published today on Yahoo Finance, Flex (NASDAQ: FLEX) today announced its inclusion as one of Ethisphere’s 2024 World’s Most Ethical Companies in the category of industrial manufacturing. This recognition underscores Flex’s unwavering commitment to ethical business practices, integrity, and corporate social responsibility.
From an analyst’s perspective:
Flex Ltd [NASDAQ: FLEX] stock has seen the most recent analyst activity on September 07, 2023, when Barclays initiated its Overweight rating and assigned the stock a price target of $35. On August 17, 2022, Credit Suisse initiated with a Outperform rating and assigned a price target of $24 on the stock. Argus upgraded its rating to a Buy but stick to its price target of $22 on May 18, 2022. Cross Research upgraded its rating to a Buy but $22 remained the price target by the analyst firm on May 06, 2021. JP Morgan upgraded its rating to Overweight for this stock on February 26, 2021, and upped its price target to $22. In a note dated December 18, 2020, JP Morgan downgraded an Neutral rating on this stock but restated the target price of $17.
For the past year, the stock price of Flex Ltd fluctuated between $14.14 and $30.93. Currently, Wall Street analysts expect the stock to reach $22.5 within the next 12 months. Flex Ltd [NASDAQ: FLEX] shares were valued at $28.73 at the most recent close of the market. An investor can expect a potential drop of -21.68% based on the average FLEX price forecast.
Analyzing the FLEX fundamentals
According to Flex Ltd [NASDAQ:FLEX], the company’s sales were 29.39B for trailing twelve months, which represents an -8.42% plunge. Gross Profit Margin for this corporation currently stands at 0.08% with Operating Profit Margin at 0.04%, Pretax Profit Margin comes in at 0.04%, and Net Profit Margin reading is 0.03%. To continue investigating profitability, this company’s Return on Assets is posted at 0.05, Equity is 0.17 and Total Capital is 0.12. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 0.66.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 28.36 points at the first support level, and at 27.99 for the second support level. However, for the 1st resistance point, the stock is sitting at 28.93, and for the 2nd resistance point, it is at 29.13.
Flex Ltd [FLEX] reported earnings per share of $0.71 for its fiscal quarter that ended on 12/30/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $0.61/share, meaning a difference of $0.1 and a surprise factor of 16.40%. By comparison, the stated earnings for the previous quarter ended on 9/29/2023 were $0.68 per share as compared to estimates of $0.58 per share, a difference of $0.1 representing a surprise of 17.20%.
Ratios To Look Out For
It is important to note that Flex Ltd [NASDAQ:FLEX] has a current ratio of 1.59. As well, the Quick Ratio is 0.86, while the Cash Ratio is 0.29. Considering the valuation of this stock, the price to sales ratio is 0.41, the price to book ratio is 2.06 and price to earnings (TTM) ratio is 17.11.
Transactions by insiders
Recent insider trading involved Tan Kwang Hooi, Group President, that happened on Mar 13 ’24 when 8027.0 shares were sold. Chief Accounting Officer, WENDLER DANIEL completed a deal on Mar 12 ’24 to sell 1860.0 shares. Meanwhile, Group President Hartung Michael P sold 43381.0 shares on Mar 07 ’24.
