Flex Ltd. (NASDAQ:FLEX) does about 4.13M shares in volume on a normal day but saw 5237001 shares change hands in Monday trading. The company now has a market cap of 5.28B USD and an enterprise value of about $7.47B. Its current market price is $10.86, marking a decrease of 0.00% compared to the previous close of $10.86. The 52 week high reached by this stock is $14.00 whilst the lowest price level in 52 weeks is $5.36. The script in recent trading has seen the stock touch a high of $10.90 and a low of $10.66.
Flex Ltd. (FLEX) has a 20-day trading average at $11.13 and the current price is -22.43% off the 52-week high compared with 102.61% distance from its 52-week low. The 50-day simple moving average of the closing price is $10.78 and its 200-day simple moving average is $10.83. If we look at the stock’s price movements over the week, volatility stands at 2.86%, which decreases to 2.68% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 49.80 to suggest the stock is neutral.
The consensus objective for the share price is $14.57, suggesting that the stock has a potential upside of 25.46% over the period.
The company shares received a number of brokerage firm price updates over the past month, with the latest being on April 22, 2020 when RBC Capital Mkts initiated the stock to “Sector Perform” and issued a price target of $9. JP Morgan upgraded the stock to “Overweight” from Neutral on May 29, 2019 at a price target of .
The current price level is -2.68%, 0.82%, and 0.18% away from its SMA20, SMA50, and SMA200 respectively, with the FLEX price moving above the 50-day SMA on August 31. Flex Ltd. (FLEX) stock is up 1.50% over the week and -5.48% over the past month. Its price is -13.95% year-to-date and 12.77% over the past year.
The stock last released its quarterly earnings report for quarter ended 6/29/2020, with the company’s earnings per share (EPS) of $0.23 above consensus estimates by $0.06. FLEX’s earnings per share are forecast to shrink by -8.10% this year and 16.80% over next year. Expected sales for next quarter are $6.03 billion, which analysts say will come at $22.4 billion for the current fiscal year and next year at $23.47 billion. In addition, estimates put the company’s current quarterly revenue at an average of $5.54 billion.
Its 12-month price target is $14.50. To reach the target analysts have set, the stock logically needs to grow 25.46 percent from here. Of course, the average price target is just what the average analysts believe a stock will be worth in the next 52 weeks, and is only one metric. There are analysts with lower targets than the average, including one bearish Wall Street research firm advocating investors to wait for the price to pull back to $12.00, given the recent momentum. And then, on the bullish side of things, one analyst is expecting the stock to peak at $18.00.
Outstanding shares total 500.89M with insiders holding 0.45% of the shares and institutional holders owning 99.50% of the company’s common stock. The company has a return on investment of 3.00% and return on equity of 3.30%. The price to earnings ratio (P/E ratio) amounts to 57.46 while the forward price to earnings ratio is 8.21. The beta has a value of 1.75. Price to book ratio is 1.84 and price to sales ratio is 0.23.
According to a U.S. Securities and Exchange Commission filing, Janus Henderson Enterprise Fund has reduced its position in Flex Ltd. (FLEX) to 19,364,236 shares, mirroring a recent drop by 0.00%. Janus Henderson Enterprise Fund dumped 0.0 shares of Flex Ltd. common stock bringing its total worth to about $222.5 million at the end of recent close, SEC documents show. Janus Henderson Enterprise Fund isn’t the only investment manager who changed stakes and is followed by Vanguard Capital Opportunity Fund, which sold off 34500.0 shares to end up with 18,916,002 shares worth $217.34 million. Victory Sycamore Established Valu raise their holdings by 5.43% in the company over the course of the most recent quarter. It now holds a 3.26% position in Flex Ltd. thanks to 16.2 million shares amounting to $186.14 million.