Should Value Investors Buy Flexsteel Industries (FLXS) Stock?
While the proven Zacks Rank places an emphasis on earnings estimates and estimate revisions to find strong stocks, we also know that investors tend to develop their own individual strategies. With this in mind, we are always looking at value, growth, and momentum trends to discover great companies.
Of these, value investing is easily one of the most popular ways to find great stocks in any market environment. Value investors use tried-and-true metrics and fundamental analysis to find companies that they believe are undervalued at their current share price levels.
On top of the Zacks Rank, investors can also look at our innovative Style Scores system to find stocks with specific traits. For example, value investors will want to focus on the "Value" category. Stocks with high Zacks Ranks and "A" grades for Value will be some of the highest-quality value stocks on the market today.
One company value investors might notice is Flexsteel Industries (FLXS). FLXS is currently sporting a Zacks Rank #1 (Strong Buy) and an A for Value. The stock is trading with a P/E ratio of 8.19, which compares to its industry's average of 8.83. FLXS's Forward P/E has been as high as 18.52 and as low as 7.85, with a median of 12.89, all within the past year.
Investors should also note that FLXS holds a PEG ratio of 0.68. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. FLXS's PEG compares to its industry's average PEG of 0.70. Over the past 52 weeks, FLXS's PEG has been as high as 1.54 and as low as 0.65, with a median of 1.07.
Investors should also recognize that FLXS has a P/B ratio of 1.02. The P/B ratio is used to compare a stock's market value with its book value, which is defined as total assets minus total liabilities. This stock's P/B looks attractive against its industry's average P/B of 1.39. FLXS's P/B has been as high as 2.17 and as low as 0.98, with a median of 1.38, over the past year.
Value investors also love the P/S ratio, which is calculated by simply dividing a stock's price with the company's sales. Some people prefer this metric because sales are harder to manipulate on an income statement. This means it could be a truer performance indicator. FLXS has a P/S ratio of 0.35. This compares to its industry's average P/S of 0.39.
These are only a few of the key metrics included in Flexsteel Industries's strong Value grade, but they help show that the stock is likely undervalued right now. When factoring in the strength of its earnings outlook, FLXS looks like an impressive value stock at the moment.
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