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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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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