BidaskClub lowered shares of Plexus (NASDAQ:PLXS) from a hold rating to a sell rating in a research note published on Saturday.
PLXS has been the subject of several other research reports. J P Morgan Chase & Co raised Plexus from a neutral rating to an overweight rating and set a $62.00 price target for the company in a report on Monday, August 28th. Stifel Nicolaus reissued a hold rating and set a $54.00 price target on shares of Plexus in a report on Tuesday, September 12th. Zacks Investment Research lowered Plexus from a hold rating to a sell rating in a report on Monday, October 30th. ValuEngine raised Plexus from a hold rating to a buy rating in a report on Friday, September 22nd. Finally, Citigroup boosted their price target on Plexus from $59.00 to $65.00 and gave the company a neutral rating in a report on Friday, October 27th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. The stock has an average rating of Hold and a consensus price target of $57.86.
Plexus (NASDAQ:PLXS) traded up $0.93 during trading on Friday, reaching $61.59. The company had a trading volume of 307,669 shares, compared to its average volume of 139,723. The stock has a market capitalization of $2,072.20, a PE ratio of 19.01 and a beta of 0.87. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.06 and a current ratio of 1.78. Plexus has a 12 month low of $49.06 and a 12 month high of $64.12.
Plexus (NASDAQ:PLXS) last released its quarterly earnings results on Wednesday, October 25th. The technology company reported $0.84 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.82 by $0.02. Plexus had a return on equity of 11.48% and a net margin of 4.43%. The business had revenue of $670.00 million during the quarter, compared to analyst estimates of $676.23 million. During the same quarter in the previous year, the company posted $0.82 earnings per share. Plexus’s revenue for the quarter was up 2.6% on a year-over-year basis. equities research analysts anticipate that Plexus will post 3.41 EPS for the current fiscal year.
In other news, Chairman Dean A. Foate sold 33,750 shares of the company’s stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $61.22, for a total value of $2,066,175.00. Following the completion of the transaction, the chairman now owns 303,920 shares of the company’s stock, valued at $18,605,982.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Ronnie Darroch sold 4,513 shares of the company’s stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $61.10, for a total value of $275,744.30. Following the completion of the transaction, the vice president now directly owns 9,677 shares of the company’s stock, valued at approximately $591,264.70. The disclosure for this sale can be found here. In the last ninety days, insiders sold 205,696 shares of company stock valued at $12,706,971. Corporate insiders own 4.30% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Riverhead Capital Management LLC boosted its stake in shares of Plexus by 69.0% in the second quarter. Riverhead Capital Management LLC now owns 2,366 shares of the technology company’s stock worth $124,000 after acquiring an additional 966 shares during the period. Appleton Group LLC bought a new position in Plexus during the third quarter valued at approximately $201,000. Neuberger Berman Group LLC boosted its stake in Plexus by 0.8% during the second quarter. Neuberger Berman Group LLC now owns 3,834 shares of the technology company’s stock valued at $202,000 after buying an additional 31 shares during the last quarter. Amalgamated Bank boosted its stake in Plexus by 1.4% during the second quarter. Amalgamated Bank now owns 4,582 shares of the technology company’s stock valued at $241,000 after buying an additional 65 shares during the last quarter. Finally, Verition Fund Management LLC bought a new position in Plexus during the second quarter valued at approximately $263,000. 94.16% of the stock is owned by hedge funds and other institutional investors.
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Plexus Company Profile
Plexus Corp. (Plexus) and its subsidiaries are engaged in the electronic manufacturing services (EMS) industry. The Company delivers end-to-end solutions for customers in the Americas (AMER), Europe, Middle East, and Africa (EMEA) and Asia-Pacific (APAC) regions. The Company’s segments are AMER, APAC and EMEA.
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