BidaskClub upgraded shares of Plexus (NASDAQ:PLXS) from a buy rating to a strong-buy rating in a report published on Saturday morning.
Other equities research analysts also recently issued research reports about the company. ValuEngine raised Plexus from a hold rating to a buy rating in a report on Thursday, March 1st. Zacks Investment Research raised Plexus from a hold rating to a buy rating and set a $72.00 target price for the company in a report on Thursday, March 22nd. TheStreet raised Plexus from a c+ rating to a b rating in a report on Wednesday, April 25th. Finally, JPMorgan Chase & Co. set a $70.00 target price on Plexus and gave the stock a hold rating in a report on Friday, March 16th. Six investment analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of Hold and an average target price of $63.00.
Shares of Plexus opened at $59.74 on Friday, Marketbeat Ratings reports. Plexus has a 1 year low of $49.20 and a 1 year high of $66.78. The firm has a market cap of $2.03 billion, a price-to-earnings ratio of 18.44 and a beta of 0.84. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.85 and a quick ratio of 1.00.
Plexus (NASDAQ:PLXS) last posted its earnings results on Wednesday, April 25th. The technology company reported $0.74 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.74. Plexus had a positive return on equity of 10.96% and a negative net margin of 1.19%. The company had revenue of $699.00 million during the quarter, compared to the consensus estimate of $691.05 million. During the same quarter last year, the firm earned $0.84 earnings per share. The company’s revenue was up 15.7% on a year-over-year basis. sell-side analysts forecast that Plexus will post 3.21 EPS for the current fiscal year.
In related news, Director David J. Drury sold 5,000 shares of the firm’s stock in a transaction on Friday, June 1st. The stock was sold at an average price of $58.66, for a total value of $293,300.00. Following the transaction, the director now owns 13,500 shares in the company, valued at $791,910. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Ronnie Darroch sold 1,900 shares of the firm’s stock in a transaction on Friday, May 11th. The stock was sold at an average price of $59.22, for a total value of $112,518.00. Following the completion of the transaction, the vice president now owns 9,918 shares in the company, valued at approximately $587,343.96. The disclosure for this sale can be found here. 3.70% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of PLXS. Envestnet Asset Management Inc. increased its position in shares of Plexus by 281.1% in the first quarter. Envestnet Asset Management Inc. now owns 3,224 shares of the technology company’s stock worth $185,000 after purchasing an additional 2,378 shares during the period. Cambridge Investment Research Advisors Inc. bought a new position in shares of Plexus in the fourth quarter worth $201,000. Xact Kapitalforvaltning AB bought a new position in shares of Plexus in the fourth quarter worth $215,000. Koch Industries Inc. bought a new position in shares of Plexus in the first quarter worth $220,000. Finally, Verition Fund Management LLC bought a new position in shares of Plexus in the fourth quarter worth $232,000. Institutional investors own 96.43% of the company’s stock.
Plexus Corp., together with its subsidiaries, provides electronic manufacturing services in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. It offers product conceptualization solutions; and product design and value-engineering solutions, including program management, feasibility studies, specification development for product features and functionality, circuit design, field programmable gate array design, printed circuit board layout, embedded software design, mechanical design, test specifications development and product verification testing, and automated production solutions and complex automation design.
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