Shares of Plexus Corp. (NASDAQ: PLXS) were downgraded by analysts at Zacks Investment Research in a note to their investors today. With a rating of Hold on the stock, Plexus Corp. has a 52-week high of $47.34. As a means of comparison, a number of other analysts have spoken on the stock in recent days, and Plexus Corp. has secured a consensus one-year price target of $49.83, higher than the opening price of $46.29, a difference of 10.67 percent. Downgrades occur when analysts believe that the future prospects for the security have weakened from the initial recommendation, usually caused by a material and crucial change in the company’s operations, future vision or industry.
The Fed stood pat on interest rates on Wednesday, helping stocks to mostly higher levels but Chairwoman Janet Yellen indicated an interest rate hike is likely by year’s end
On Wednesday, the S&P 500 SPX, +1.09% ended 1.1% higher, while the Dow DJIA, +0.90% jumped by 0.9%, or 164 points, as each exchange finished in positive territory for a second consecutive day.
The tech-heavy Nasdaq Composite COMP, +1.03% tacked on 1% and scored a record closing high.
S&P 500 futures ESZ6, +0.36% were up 6.55 points, or 0.3%, to 2,162.75 early Thursday, while Dow Jones Industrial Average futures YMZ6, +0.37% rose 58 points, or 0.3%, to 18,276. Nasdaq-100 futures NQZ6, +0.39% gained 16.25 points, or 0.3%, to 4,866.25.
Yesterday Plexus Corp. (NASDAQ: PLXS) shares last traded at $46.68, an increase of $0.64 from the previous closing price. Opening at $46.29, they fluctuated from $46.20 and $46.80 throughout the day.
Plexus Corp. (NASDAQ: PLXS) currently has a market cap of 1.56B.
The stock’s average daily volume is 145,081 shares out of a total float 32,994,000 and some 281,763 shares traded hands yesterday, higher than normal. Excessive volume accumulation by institutional investors may be in the near future as the combination of substantial increases in trading volume and price inflation can be determining factors.
As with all potential breakouts, investors watch for volume to be at least 40%-50% higher than normal on the breakout to show that fund managers and other professional investors are jumping in.
Institutional sponsorship commonly refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
Institutional investors such as these have substantial teams of analysts researching thousands of stocks. So watching their interests is a good way to make sure you are buying the right stocks.
By following the activity of these professional investors and how they influence moving averages,it allows for traders to make more impactful judgments on trades.
Trades for Plexus Corp. (NASDAQ: PLXS) have ranged from $28.72 – 47.34, and the stock now has a 50-day MA of $46.27 and 200-day MA of $43.09. Today’s last price is 0.01% below the 52 week high of $47.34.
Indeed, earnings growth is among the most important things to look at in regards to stock investing and, accordingly, investors seek companies that have been successful at growing their earnings at least 25% or more over a 3 year period.
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