Flex Ltd. [NASDAQ: FLEX] price plunged by -0.46 percent to reach at -$0.08. The company report on May 12, 2021 that Flex and EMist Quickly Ramp Production of Cordless TruElectrostatic™ Disinfectant Sprayers to Address Heightened Consumer Health & Safety Expectations.
Flex enables EMist to scale production of electrostatic disinfectant sprayers, delivering globally in almost half the time.
The COVID-19 pandemic has created new consumer expectations of the health and safety of physical spaces they encounter and visit. To help meet an exponential increase in demand for its disinfecting products, EMist turned to Flex (NASDAQ:FLEX), a global manufacturing and supply chain leader, to quickly and substantially ramp up production of its EX-7000™ Backpack Disinfectant Sprayer.
A sum of 6279282 shares traded at recent session while its average daily volume was at 4.56M shares. Flex Ltd. shares reached a high of $17.72 and dropped to a low of $17.41 until finishing in the latest session at $17.42.
The one-year FLEX stock forecast points to a potential upside of 21.99. The average equity rating for FLEX stock is currently 2.10, trading closer to a bullish pattern in the stock market.
Guru’s Opinion on 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.
Cross Research have made an estimate for Flex Ltd. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on May 06, 2021. While these analysts kept the previous recommendation, JP Morgan raised their target price from $21 to $22. The new note on the price target was released on February 26, 2021, representing the official price target for Flex Ltd. stock. Previously, the target price had yet another raise to $17, while JP Morgan analysts kept a Neutral rating on FLEX stock. On October 16, 2020, analysts increased their price target for FLEX shares from 12 to 16.
The Average True Range (ATR) for Flex Ltd. is set at 0.64, 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 2.58, with the Price to Cash per share for the same quarter was set at 5.26.
FLEX Stock Performance Analysis:
Flex Ltd. [FLEX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -4.47. With this latest performance, FLEX shares dropped by -5.22% in over the last four-week period, additionally plugging by 9.56% over the last 6 months – not to mention a rise of 70.28% 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 45.39, with the RSI for the last a single of trading hit 44.29, and the three-weeks RSI is set at 46.39 for Flex Ltd. [FLEX]. The present Moving Average for the last 50 days of trading for this stock 17.90, while it was recorded at 17.32 for the last single week of trading, and 15.76 for the last 200 days.
Insight into Flex Ltd. Fundamentals:
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 Stock EPS
With the latest financial reports released by the company, Flex Ltd. posted 0.23/share EPS, while the average EPS was predicted by analysts to be reported at 0.17/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 35.30%. 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 15.70%.
Flex Ltd. [FLEX] Insider Position Details
There are presently around $8,268 million, in the hands of institutional investors. The top three institutional holders of FLEX stocks are: PRIMECAP MANAGEMENT CO/CA/ with ownership of 60,358,352, which is approximately -7.165% of the company’s market cap and around 0.50% of the total institutional ownership; FMR LLC, holding 49,917,158 shares of the stock with an approximate value of $869.56 million in FLEX stocks shares; and WELLINGTON MANAGEMENT GROUP LLP, currently with $620.35 million in FLEX stock with ownership of nearly -32.439% of the company’s market capitalization.
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 179 institutional holders increased their position in Flex Ltd. [NASDAQ:FLEX] by around 40,255,543 shares. Additionally, 150 investors decreased positions by around 56,430,546 shares, while 49 investors held positions by with 377,951,587 shares. The mentioned changes placed institutional holdings at 474,637,676 shares, according to the latest SEC report filing. FLEX stock had 62 new institutional investments in for a total of 8,797,857 shares, while 44 institutional investors sold positions of 9,491,913 shares during the same period.