Flex Ltd. [FLEX] stock Upgrade by RBC Capital Mkts analyst, price target now $16

Flex Ltd. [NASDAQ: FLEX] loss -1.59% on the last trading session, reaching $16.73 price per share at the time. The company report on November 25, 2020 that Flex Appoints John D. Harris II to its Board of Directors.

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Flex (NASDAQ: FLEX) announced that John D. Harris II, a seasoned executive leader, has joined the Company’s Board of Directors, effective November 23, 2020.

Mr. Harris has over 30 years of technology, non-profit and business board experience, and most recently served as vice president of Business Development for Raytheon Company and chief executive officer of Raytheon International, Inc. In this role, Mr. Harris was responsible for worldwide sales and marketing, international business and government relations operations functions. He was also responsible for developing and leading the execution of Raytheon’s global business strategy.

Flex Ltd. represents 501.00 million in outstanding shares, while the company has a total market value of $8.34 billion with the latest information. FLEX stock price has been found in the range of $16.59 to $16.98.

If compared to the average trading volume of 4.42M shares, FLEX reached a trading volume of 2363154 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Flex Ltd. [FLEX]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for FLEX shares is $18.25 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on FLEX stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

RBC Capital Mkts have made an estimate for Flex Ltd. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on October 16, 2020. While these analysts kept the previous recommendation, RBC Capital Mkts raised their target price to Sector Perform. The new note on the price target was released on April 22, 2020, representing the official price target for Flex Ltd. stock.

The Average True Range (ATR) for Flex Ltd. is set at 0.59, with the Price to Sales ratio for FLEX stock in the period of the last 12 months amounting to 0.36. The Price to Book ratio for the last quarter was 2.69, with the Price to Cash per share for the same quarter was set at 4.73.

Trading performance analysis for FLEX stock

Flex Ltd. [FLEX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.14. With this latest performance, FLEX shares gained by 20.79% in over the last four-week period, additionally plugging by 72.30% over the last 6 months – not to mention a rise of 40.12% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for FLEX stock in for the last two-week period is set at 71.92, with the RSI for the last a single of trading hit 71.29, and the three-weeks RSI is set at 69.44 for Flex Ltd. [FLEX]. The present Moving Average for the last 50 days of trading for this stock 13.54, while it was recorded at 16.64 for the last single week of trading, and 10.97 for the last 200 days.

Flex Ltd. [FLEX]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Flex Ltd. [FLEX] shares currently have an operating margin of +2.60 and a Gross Margin at +6.05. Flex Ltd.’s Net Margin is presently recorded at +0.36.

Return on Total Capital for FLEX is now 10.21, given the latest momentum, and Return on Invested Capital for the company is 1.53. Return on Equity for this stock inclined to 3.02, with Return on Assets sitting at 0.64. When it comes to the capital structure of this company, Flex Ltd. [FLEX] has a Total Debt to Total Equity ratio set at 122.96. Additionally, FLEX Total Debt to Total Capital is recorded at 55.15, with Total Debt to Total Assets ending up at 25.43. Long-Term Debt to Equity for the company is recorded at 113.67, with the Long-Term Debt to Total Capital now at 50.98.

Reflecting on the efficiency of the workforce at the company, Flex Ltd. [FLEX] managed to generate an average of $547 per employee. Receivables Turnover for the company is 7.90 with a Total Asset Turnover recorded at a value of 1.78.Flex Ltd.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.00 and a Current Ratio set at 1.50.

Flex Ltd. [FLEX]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, Flex Ltd. posted 0.38/share EPS, while the average EPS was predicted by analysts to be reported at 0.34/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 11.80%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for FLEX. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Flex Ltd. go to 12.50%.

An analysis of insider ownership at Flex Ltd. [FLEX]

There are presently around $8,176 million, in the hands of institutional investors. The top three institutional holders of FLEX stocks are: PRIMECAP MANAGEMENT CO/CA/ with ownership of 69,409,206, which is approximately -4.179% of the company’s market cap and around 0.90% of the total institutional ownership; WELLINGTON MANAGEMENT GROUP LLP, holding 52,789,927 shares of the stock with an approximate value of $883.17 million in FLEX stocks shares; and FMR LLC, currently with $837.99 million in FLEX stock with ownership of nearly 0.627% of the company’s market capitalization.

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Positions in Flex Ltd. stocks held by institutional investors increased at the end of October and at the time of the October reporting period, where 104 institutional holders increased their position in Flex Ltd. [NASDAQ:FLEX] by around 31,008,909 shares. Additionally, 139 investors decreased positions by around 28,582,899 shares, while 67 investors held positions by with 429,082,342 shares. The mentioned changes placed institutional holdings at 488,674,150 shares, according to the latest SEC report filing. FLEX stock had 27 new institutional investments in for a total of 7,831,061 shares, while 41 institutional investors sold positions of 8,153,751 shares during the same period.

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