Omega Flex (NASDAQ:OFLX) Upgraded to “Buy” at BidaskClub

Omega Flex (NASDAQ:OFLX) was upgraded by research analysts at BidaskClub from a “hold” rating to a “buy” rating in a research report issued on Tuesday, May 7th, BidAskClub reports.

OFLX traded down $0.98 during trading on Tuesday, hitting $85.42. The company’s stock had a trading volume of 3,966 shares, compared to its average volume of 11,769. Omega Flex has a twelve month low of $51.02 and a twelve month high of $96.00. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.44 and a current ratio of 6.21. The firm has a market cap of $862.06 million, a PE ratio of 42.85 and a beta of 1.10.

Omega Flex (NASDAQ:OFLX) last issued its earnings results on Thursday, April 18th. The industrial products company reported $0.43 earnings per share for the quarter. The company had revenue of $26.79 million for the quarter. Omega Flex had a return on equity of 31.33% and a net margin of 18.56%.

A number of large investors have recently made changes to their positions in OFLX. Kayne Anderson Rudnick Investment Management LLC grew its stake in shares of Omega Flex by 5.1% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,377,233 shares of the industrial products company’s stock worth $74,467,000 after acquiring an additional 67,233 shares during the period. BlackRock Inc. grew its stake in shares of Omega Flex by 4.7% during the 4th quarter. BlackRock Inc. now owns 171,951 shares of the industrial products company’s stock worth $9,297,000 after acquiring an additional 7,762 shares during the period. Wells Fargo & Company MN grew its stake in shares of Omega Flex by 26.9% during the 3rd quarter. Wells Fargo & Company MN now owns 11,757 shares of the industrial products company’s stock worth $836,000 after acquiring an additional 2,494 shares during the period. Dimensional Fund Advisors LP boosted its stake in Omega Flex by 2.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 294,050 shares of the industrial products company’s stock worth $20,924,000 after purchasing an additional 6,252 shares during the period. Finally, Renaissance Technologies LLC boosted its stake in Omega Flex by 8.3% in the 3rd quarter. Renaissance Technologies LLC now owns 32,494 shares of the industrial products company’s stock worth $2,312,000 after purchasing an additional 2,494 shares during the period. Hedge funds and other institutional investors own 25.35% of the company’s stock.

Omega Flex Company Profile

Omega Flex, Inc, together with its subsidiaries, manufactures and sells flexible metal hoses and accessories in the United States and internationally. It offers flexible gas piping for use in residential and commercial buildings, as well as its fittings; and corrugated medical tubing for use in hospitals, ambulatory care centers, dental, physician and veterinary clinics, laboratories, and other facilities.

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