Preformed Line Products (PLPC) Upgraded by BidaskClub to “Strong-Buy”

Preformed Line Products (NASDAQ:PLPC) was upgraded by equities research analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a report released on Friday.

Separately, ValuEngine upgraded Preformed Line Products from a “hold” rating to a “buy” rating in a research note on Saturday, May 12th.

Shares of NASDAQ PLPC opened at $76.49 on Friday. Preformed Line Products has a twelve month low of $73.21 and a twelve month high of $74.02. The company has a market capitalization of $369.11 million, a PE ratio of 22.36 and a beta of 1.27. The company has a current ratio of 3.54, a quick ratio of 2.18 and a debt-to-equity ratio of 0.18.

Preformed Line Products (NASDAQ:PLPC) last announced its earnings results on Friday, March 9th. The technology company reported $0.14 earnings per share for the quarter. Preformed Line Products had a return on equity of 6.89% and a net margin of 4.25%. The firm had revenue of $96.89 million for the quarter.

A number of institutional investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP lifted its stake in Preformed Line Products by 2.1% in the first quarter. Dimensional Fund Advisors LP now owns 302,856 shares of the technology company’s stock valued at $19,713,000 after purchasing an additional 6,211 shares during the last quarter. BlackRock Inc. lifted its stake in Preformed Line Products by 1.8% in the fourth quarter. BlackRock Inc. now owns 141,813 shares of the technology company’s stock valued at $10,075,000 after purchasing an additional 2,512 shares during the last quarter. Renaissance Technologies LLC lifted its stake in Preformed Line Products by 16.9% in the fourth quarter. Renaissance Technologies LLC now owns 60,100 shares of the technology company’s stock valued at $4,270,000 after purchasing an additional 8,700 shares during the last quarter. Millennium Management LLC purchased a new position in Preformed Line Products in the fourth quarter valued at approximately $2,219,000. Finally, Geode Capital Management LLC lifted its stake in Preformed Line Products by 21.5% in the fourth quarter. Geode Capital Management LLC now owns 28,345 shares of the technology company’s stock valued at $2,013,000 after purchasing an additional 5,023 shares during the last quarter. Institutional investors and hedge funds own 45.44% of the company’s stock.

About Preformed Line Products

Preformed Line Products Company, together with its subsidiaries, designs and manufactures products and systems used in the construction and maintenance of overhead and underground networks for the energy, telecommunication, cable operator, information, and other industries. The company offers formed wire and related hardware products to support, protect, terminate, and secure power conductor and communication cables, as well as to control cable dynamics; and hardware products to support and protect transmission conductors, spacers, spacer-dampers, stockbridge dampers, corona suppression devices, and various compression fittings for dead-end applications.

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