JP Morgan slashes price target on Flex Ltd. [FLEX] – find out why.

Flex Ltd. [NASDAQ: FLEX] loss -0.76% on the last trading session, reaching $18.22 price per share at the time. The company report on April 28, 2021 that Nextracker Announces Confidential Submission of Draft Registration Statement for Proposed Public Listing.

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Nextracker Inc. announced that it has confidentially submitted a draft registration statement on Form S-1 with the U.S. Securities and Exchange Commission (the “SEC”) relating to the proposed initial public offering of its Class A common stock. The initial public offering and its timing are subject to market and other conditions and the SEC’s review process.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities. Any offers, solicitations of offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act of 1933, as amended (“Securities Act”). This announcement is being issued in accordance with Rule 135 under the Securities Act.

Flex Ltd. represents 500.00 million in outstanding shares, while the company has a total market value of $8.99 billion with the latest information. FLEX stock price has been found in the range of $18.17 to $19.07.

If compared to the average trading volume of 4.59M shares, FLEX reached a trading volume of 5719228 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 $22.33 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 2.10. 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.

JP Morgan have made an estimate for Flex Ltd. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on February 26, 2021. The new note on the price target was released on December 18, 2020, representing the official price target for Flex Ltd. stock. Previously, the target price had yet another raise from $12 to $16, while RBC Capital Mkts kept a Outperform rating on FLEX stock.

The Average True Range (ATR) for Flex Ltd. is set at 0.53, with the Price to Sales ratio for FLEX stock in the period of the last 12 months amounting to 0.39. The Price to Book ratio for the last quarter was 2.70, with the Price to Cash per share for the same quarter was set at 5.29.

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 0.16. With this latest performance, FLEX shares gained by 6.18% in over the last four-week period, additionally plugging by 29.27% over the last 6 months – not to mention a rise of 100.00% 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 51.18, with the RSI for the last a single of trading hit 50.71, and the three-weeks RSI is set at 51.06 for Flex Ltd. [FLEX]. The present Moving Average for the last 50 days of trading for this stock 18.04, while it was recorded at 18.24 for the last single week of trading, and 15.29 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 0.28/share EPS, while the average EPS was predicted by analysts to be reported at 0.24/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 16.70%. 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 16.65%.

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

There are presently around $8,958 million, in the hands of institutional investors. The top three institutional holders of FLEX stocks are: PRIMECAP MANAGEMENT CO/CA/ with ownership of 65,016,736, which is approximately -6.328% of the company’s market cap and around 0.50% of the total institutional ownership; WELLINGTON MANAGEMENT GROUP LLP, holding 52,710,291 shares of the stock with an approximate value of $960.38 million in FLEX stocks shares; and FMR LLC, currently with $913.11 million in FLEX stock with ownership of nearly 0.054% of the company’s market capitalization.

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Positions in Flex Ltd. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 184 institutional holders increased their position in Flex Ltd. [NASDAQ:FLEX] by around 50,240,215 shares. Additionally, 127 investors decreased positions by around 45,255,017 shares, while 47 investors held positions by with 396,144,261 shares. The mentioned changes placed institutional holdings at 491,639,493 shares, according to the latest SEC report filing. FLEX stock had 94 new institutional investments in for a total of 29,579,282 shares, while 36 institutional investors sold positions of 4,460,673 shares during the same period.

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