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Flexsteel Industries, Inc. (FLXS)

NasdaqGS - NasdaqGS Real Time Price. Currency in USD
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37.83+0.32 (+0.85%)
At close: 4:00PM EDT
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  • M
    Mila
    Come on .. this is an old tired furniture company, highly overvalued.
    Bearish
  • J
    Just Me
    Interesting article I just read. Flexsteel has some potential exposure in a lawsuit by former employees. To the best of my knowledge, they haven't disclosed this to investors. No idea what the amount is but I can assure you it's bad PR. It does detail the basis of the lawsuit. If true, they should be ashamed of themselves.
  • I
    IMLongInvestor
    Highly overvalued at $37.50/share... I see a 20% downside exposure
    Bearish
  • S
    Scott
    Sell off coming... price climbed too fast for no reason. STRONG SELL.
    Bearish
  • S
    Scott
    $FLXS is currently overvalued by 70%.. STRONG SELL.
    Bearish
  • V
    Valuation Skeptic
    #FLXS should trade in the $9 - $11/share range. Sell.
    Bearish
  • Y
    Yahoo Finance Insights
    Flexsteel is down 7.35% to 33.26
  • D
    DBI_Trader
    $FLXS is a solid company, lots of upside sales opportunities with the International division.
    Bullish
  • Y
    Yahoo Finance Insights
    Flexsteel is down 7.44% to 31.54
  • J
    Just Me
    CliffsNotes from Q4/FY 2020
    -Lost a tremendous amount of money $26.8 Million,
    -Sales down tremendously due to Covid-19. We're uncertain about the future.
    -We have a hard time filling job openings.
    -We exited the RV Industry which is now a hot sector of Sales.
    -We exited the Hospitality Industry which is not a hot sector of Sales.
    -Container and Import Fees are increasing.
    We're selling Real Estate to offset losses.

    It would be a miracle if this company could even break even this year. It will take another restructuring to achieve that. If the Board doesn't completely replace current Executive Management, it will continue to lose.
    I've never seen more incompetence entrusted with this kind of capital in all my years of investing.
  • J
    Just Me
    I wonder how long it will be before they get a letter from the SEC. All the other major upholstery suppliers reported decreases sales Q1 but Flexsteel comes in with astronomical gains. That's a bit mysterious. As I combed their proxy statement I was amazed to see the Executive bonuses. All were compensated despite taking a pay cut and a dismal performance over the last 18 months. It should be interesting to see what develops.
  • J
    Just Me
    I sold my remaining shares at a small loss yesterday. Why? I listened to the Conference Call. One question was: Just on the stationery business, what percentage of the mix does that represent? Answer: I don't know that. I don't have that off the top of my head. I didn't have any real confidence and that sealed it for me. No real surprise for me. The last two CEO's are people pushed out of their previous companies. Bottom line they lost 5 million dollars after a year of restructuring. They haven't had good leadership since 2012.
    Bullish
  • M
    Mike
    Just listened to earnings call. Company closing most domestic upholstery production moving it to Mexico and relying on imported casegoods. Such a pity for a company with a deep history of employing USA people.
    Neutral
  • M
    Mike
    I’m thrilled to no longer own this stock. Suggest all to get out. Company has nothing positive going for it.
    Bearish
  • E
    Eric
    Glad to see that the Board finally did something about leadership. Company performance is extremely disappointing. Company should be making good money in this economy and with the new lower tax rates. They need a strong leader focused on results. JMHO
  • J
    Just Me
    This one has been beaten down worse than most stocks due to Coronavirus. Normally I would buy back in at 10 but I will hold off until the announce earnings at the end of the month. They ousted the CFO. I assume this is related to a 3 million bad debt hanging over their heads from a major retailer heading into bankruptcy. This once great company could be on sale for $8 a share. I would hope the Board steps in soon. This current Management team assumed the helm at $24 a share. They haven't convince anyone they're restructuring except themselves. Sales should continue to decline because nobody really believes in them.
  • m
    mitchell n
    Flexsteel is doing the things to turn around the company that every long term share holder dreams of. They replaced senior management, sold off some real estate to use the cash and not pile up debt. Cutting expenses and modernizing.
    Dividend may be a little rich, perhaps they will cut the dividend. Management seems enthusiastic although they made the math error on the restructure. Sales will be down initially with income up because of discontinued lines and the restructuring. We shall see how this management executes. I have been watching this one for a while and finally got in. I was waiting for the down grade and the flush.
    I initially thought that $flxs would do better than most with the tariffs, I was wrong. I couldn’t find a furniture company in the U.S. that’s not dependent on China so basically I think everyone is going to raise prices together.
  • s
    steven
    Campers and RVs are making a comeback during COVID. FLXS could be back in action there.
  • E
    Eric
    Wayfair has redefined the way furniture is sold. Flexsteel doesn't sell their sofas on wayfair. This company is in big trouble. Not to mention driving the company into the ditch with the ERP system. Board is asleep.....
  • P
    Pops
    Now $13. Starting to get my interest in a long term value play. Hard to say how low this poor performing stock will go but their assets should be worth a good bit more than $13. I don't know what their performance issues are but many many years ago when I was buying furniture their quality was great.