Plexus (PLXS) Downgraded by TheStreet to C+

Plexus (NASDAQ:PLXS) was downgraded by research analysts at TheStreet from an “a-” rating to a “c+” rating in a research note issued to investors on Wednesday.

Several other research firms have also issued reports on PLXS. BidaskClub lowered shares of Plexus from a “hold” rating to a “sell” rating in a research report on Saturday, December 16th. Citigroup upped their price target on shares of Plexus from $59.00 to $65.00 and gave the company a “neutral” rating in a research report on Friday, October 27th. ValuEngine upgraded shares of Plexus from a “hold” rating to a “buy” rating in a research report on Friday, September 22nd. Zacks Investment Research lowered shares of Plexus from a “hold” rating to a “sell” rating in a research report on Monday, October 30th. Finally, Longbow Research upgraded shares of Plexus from a “neutral” rating to a “buy” rating in a research report on Monday, January 8th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company’s stock. Plexus presently has a consensus rating of “Hold” and an average target price of $59.17.

Shares of Plexus (PLXS) opened at $60.12 on Wednesday. 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 1 year low of $49.06 and a 1 year high of $66.78. The stock has a market cap of $2,165.38, a PE ratio of -117.88 and a beta of 0.88.

Plexus (NASDAQ:PLXS) last posted its quarterly earnings results on Wednesday, January 17th. The technology company reported $0.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.80 by ($0.05). Plexus had a negative net margin of 0.57% and a positive return on equity of 11.07%. The business had revenue of $677.00 million for the quarter, compared to analysts’ expectations of $685.07 million. During the same quarter in the previous year, the company earned $0.82 earnings per share. The business’s quarterly revenue was up 6.6% on a year-over-year basis. equities research analysts anticipate that Plexus will post 3.41 EPS for the current year.

In other news, insider Yong Jin Lim sold 10,000 shares of the stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $63.07, for a total transaction of $630,700.00. Following the completion of the sale, the insider now directly owns 58,890 shares in the company, valued at $3,714,192.30. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Dean A. Foate sold 33,750 shares of the stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $61.22, for a total transaction of $2,066,175.00. Following the sale, the chairman now owns 303,920 shares of the company’s stock, valued at $18,605,982.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 205,696 shares of company stock valued at $12,706,971. 3.70% of the stock is currently owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in the stock. Neuberger Berman Group LLC raised its stake in Plexus by 0.8% in the second quarter. Neuberger Berman Group LLC now owns 3,834 shares of the technology company’s stock worth $202,000 after buying an additional 31 shares in the last quarter. Amalgamated Bank raised its stake in Plexus by 1.4% in the second quarter. Amalgamated Bank now owns 4,582 shares of the technology company’s stock worth $241,000 after buying an additional 65 shares in the last quarter. Suntrust Banks Inc. raised its stake in Plexus by 1.3% in the second quarter. Suntrust Banks Inc. now owns 5,440 shares of the technology company’s stock worth $285,000 after buying an additional 69 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in Plexus by 1.5% in the second quarter. PNC Financial Services Group Inc. now owns 6,228 shares of the technology company’s stock worth $328,000 after buying an additional 92 shares in the last quarter. Finally, Wells Fargo & Company MN raised its stake in Plexus by 0.7% in the second quarter. Wells Fargo & Company MN now owns 34,733 shares of the technology company’s stock worth $1,825,000 after buying an additional 249 shares in the last quarter. 93.95% of the stock is owned by 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.

Analyst Recommendations for Plexus (NASDAQ:PLXS)

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