Taking into account all relevant factors, Flex Ltd. (NASDAQ:FLEX) scores 88% Buy on the technical side. The share price is also flashing a Buy from the Barchart TrendSpotter trading system. Investors starting out on a short-term path of investing should know that short terms indicators for FLEX averaged 50% Buy with an average daily trading volume over the past 20 days at 4273465 shares. Those using medium-term investment strategies, the shares have overall a 1% Buy signal while the 50-day average daily volume remained almost 5196298 shares. It’s also important to note that the stock, whose average daily volume over the 100 days as of this piece was shares, is signaling100% Buy for long term investors.
The stock is lingering around the initial support level of $11.26. After this, the following support is at the zone of $11.17. Up until the time the FLEX stock hit levels beyond the current one, bulls should have no alarm. In terms of its momentum, the stock’s RSI hit 45.11 on the daily chart, and this may be a cause for concern. In case the price goes below $11.17 level on closing basis, there may be more profit booking with the stock growing weaker. Still, getting to the $11.49 level may cause a pull-back move approaching $11.63 mark.
Flex Ltd. (FLEX) is most likely going to rise 22.01 percent in the coming 12 months, as per price target approximations compiled by finviz. Nevertheless, they have set the price target at a $17-month high price target. This represents a whopping 49.65 percent increase from the current trading of shares. The 52-week median price target given by the analysts is $13, which means a return possibility of 14.44 percent in comparison with the closing price of the stock of $11.36 on December 03. The lowest price set for the stock is $11.5 — just above 1.23 percent from FLEX share price now.
Let’s take a glimpse at some insider activity at Flex Ltd. (NASDAQ:FLEX) and observe the pattern. The earliest insider trade happened on 10/31/2019. Collier Christopher parted with a total of 70 thousand shares of the firm at average share price of $11.7. The total amount for the sale was set at $819 thousand. On completing this exchange, the CFO account balance was 1.16 million shares. The stock lost -0.43 percent from that insider sale. On 07/02/2019, OFFER DAVID SCOTT, EVP, General Counsel, did a sale of 6.75 thousand shares at a price of $9.63 per share. This got rid of 65.01 thousand shares from the insider’s fortune and the stock experienced a 20.98 percent rally in price since the news became public. This exchange saw 691.36 thousand shares get out from the EVP, General Counsel account. On 07/02/2019, Group President Humphries Paul recorded a sale transaction valued at $95.44 thousand. The sale at $9.63 a share has eliminated 9.91 thousand shares from the insider’s portfolio position. Meanwhile, shares price witnessed 20.98 percent increase since the transaction reporting date. The company insider is left with 905.14 thousand shares remaining in the account. Collier Christopher, who works as CFO at the company, performed a sale of 10.61 thousand shares in a transaction worth $102.14 thousand. The disposal recorded on 07/02/2019 was priced at $9.63 per share. The stock price soared 20.98 percent since the transaction. Collier Christopher currently holds a stake of 1.23 million in FLEX stock which is worth $14 million after the insider selling.
On December 03, 2019, Flex Ltd. (NASDAQ:FLEX) shares lost -2.49% or -0.29 points to close at $11.36 with a heavy trading volume of 7.479 million shares. It opened the trading session at $11.47, the shares rose to $11.53 and dropped to $11.3, the range by which the price of stock traded the whole day. The company now has a market cap of $5.89 billion and currently has 518.37 million outstanding shares. Flex Ltd. (FLEX) stock has plunged -7.27 percent of market value in 21 trading days.
Stock analysts at JP Morgan upped their rating on shares of Flex Ltd. (NASDAQ:FLEX) from Neutral to a new rating of Overweight in their opinion released on May 29. JP Morgan analysts have downgraded their rating of FLEX shares from Overweight to Neutral in a separate flash note to investors on January 02. Analysts at Argus downgraded the company stock to a Hold call from its previous Buy stance, in a flash note that dated back to October 30.
FLEX stock’s trailing 3-year beta is 1.83, meaning there will be a greater rate of return, although posing a higher risk. The part of a firm’s profit given to each outstanding share of regular stock was -$0.35 share in the trailing 52 weeks. The stock’s value surged 49.28 percent year to date (YTD) compared to a rise of 29.83 percent in 52 week’s period. The firm’s shares are still trading -9.41 percent below its 1-year high of $12.54 and 58.66 percent up from 52-week low of $7.16. The average consensus ranking on the company is 2.1, on a ranging where 5 is equal to a consensus sell rating. In other words, the mean analyst recommendations are ranking this stock as a sell.
The industry FLEX deals with has an average P/E of 21.5. Its P/B ratio is standing at 2.1X compared to the 2.7 industry average. It is additionally sporting a 0.2 on the Price-to-Sales ratio, compared to the industry’s P/S average of 1. Flex Ltd. has a 6% gross profit margin, with its operating margin around 0.4%. Alongside this, the company’s net profit margin currently stands at -0.7%.
Past records have indicated that shares in Flex Ltd. rose on 19 different earnings reaction days and we have yet to see whether this trend will play out and remain in place when the company reports upcoming earnings.