Plantronics (NYSE:PLT) PT Set at $60.00 by Northland Securities

Plantronics (NYSE:PLT) received a $60.00 price objective from Northland Securities in a report issued on Friday, January 12th. The brokerage currently has a “buy” rating on the technology company’s stock. Northland Securities’ price objective points to a potential upside of 9.85% from the company’s previous close.

Other research analysts also recently issued research reports about the stock. Sidoti raised shares of Plantronics from a “neutral” rating to a “buy” rating and set a $60.00 price objective for the company in a research report on Tuesday, January 2nd. TheStreet raised shares of Plantronics from a “c+” rating to a “b” rating in a research report on Friday, November 24th. Roth Capital set a $55.00 target price on shares of Plantronics and gave the stock a “buy” rating in a report on Wednesday, November 1st. Finally, Zacks Investment Research raised shares of Plantronics from a “sell” rating to a “hold” rating in a report on Tuesday, October 3rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $58.75.

Plantronics (PLT) opened at $54.62 on Friday. The company has a quick ratio of 5.90, a current ratio of 6.44 and a debt-to-equity ratio of 1.27. The stock has a market cap of $1,827.56, a P/E ratio of 22.48, a price-to-earnings-growth ratio of 1.68 and a beta of 1.31. Plantronics has a 52 week low of $41.28 and a 52 week high of $58.27.

Plantronics (NYSE:PLT) last posted its earnings results on Tuesday, October 31st. The technology company reported $0.60 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.10. Plantronics had a net margin of 9.41% and a return on equity of 20.12%. equities research analysts predict that Plantronics will post 2.19 EPS for the current year.

In other Plantronics news, Director Maria Martinez sold 2,874 shares of the business’s stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $51.25, for a total transaction of $147,292.50. Following the sale, the director now directly owns 7,389 shares of the company’s stock, valued at approximately $378,686.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John Hart sold 21,083 shares of the company’s stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $52.56, for a total transaction of $1,108,122.48. Following the completion of the sale, the director now directly owns 11,094 shares in the company, valued at $583,100.64. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 27,145 shares of company stock valued at $1,420,777. 3.20% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Acadian Asset Management LLC raised its holdings in Plantronics by 2,352.1% during the fourth quarter. Acadian Asset Management LLC now owns 14,443 shares of the technology company’s stock worth $727,000 after buying an additional 13,854 shares during the last quarter. Schwab Charles Investment Management Inc. raised its holdings in Plantronics by 7.8% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 311,399 shares of the technology company’s stock worth $15,689,000 after buying an additional 22,414 shares during the last quarter. Profit Investment Management LLC raised its holdings in Plantronics by 276.2% during the fourth quarter. Profit Investment Management LLC now owns 29,210 shares of the technology company’s stock worth $1,472,000 after buying an additional 21,445 shares during the last quarter. Dean Investment Associates LLC acquired a new position in Plantronics during the third quarter worth $2,968,000. Finally, Cornerstone Capital Management Holdings LLC. acquired a new position in Plantronics during the third quarter worth $1,741,000. 90.89% of the stock is currently owned by institutional investors and hedge funds.

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About Plantronics

Plantronics, Inc (Plantronics) is engaged in the design, manufacture, and distribution of headsets for business and consumer applications, and other specialty products for the hearing impaired. The Company is a global designer, manufacturer and marketer of communications headsets, telephone headset systems, other communication endpoints and accessories for the business and consumer markets.

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