BidaskClub Lowers Preformed Line Products (NASDAQ:PLPC) to Hold

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BidaskClub cut shares of Preformed Line Products (NASDAQ:PLPC) from a buy rating to a hold rating in a research note released on Saturday morning, BidAskClub reports.

PLPC has been the subject of a number of other reports. TheStreet upgraded shares of Preformed Line Products from a c+ rating to a b- rating in a report on Wednesday, July 31st. ValuEngine cut shares of Preformed Line Products from a buy rating to a hold rating in a report on Wednesday, November 13th.

PLPC stock traded up $1.65 during mid-day trading on Friday, reaching $65.94. 3,800 shares of the stock traded hands, compared to its average volume of 9,541. The company has a quick ratio of 1.69, a current ratio of 2.79 and a debt-to-equity ratio of 0.24. Preformed Line Products has a 52 week low of $45.12 and a 52 week high of $69.23. The business has a 50-day moving average of $56.59 and a two-hundred day moving average of $53.43. The firm has a market capitalization of $321.34 million, a PE ratio of 14.29 and a beta of 1.47.

Preformed Line Products (NASDAQ:PLPC) last released its quarterly earnings results on Friday, November 1st. The technology company reported $1.55 earnings per share (EPS) for the quarter. Preformed Line Products had a net margin of 5.25% and a return on equity of 9.02%. The company had revenue of $119.22 million during the quarter.

A number of hedge funds have recently added to or reduced their stakes in the business. Strs Ohio boosted its holdings in Preformed Line Products by 8.3% during the second quarter. Strs Ohio now owns 3,900 shares of the technology company’s stock valued at $216,000 after acquiring an additional 300 shares during the period. Bank of New York Mellon Corp raised its position in shares of Preformed Line Products by 1.5% during the second quarter. Bank of New York Mellon Corp now owns 28,878 shares of the technology company’s stock valued at $1,603,000 after buying an additional 424 shares during the last quarter. Rhumbline Advisers raised its position in shares of Preformed Line Products by 11.3% during the third quarter. Rhumbline Advisers now owns 4,779 shares of the technology company’s stock valued at $261,000 after buying an additional 486 shares during the last quarter. Captrust Financial Advisors raised its position in shares of Preformed Line Products by 70.6% during the second quarter. Captrust Financial Advisors now owns 2,174 shares of the technology company’s stock valued at $121,000 after buying an additional 900 shares during the last quarter. Finally, Northern Trust Corp raised its position in shares of Preformed Line Products by 2.6% during the second quarter. Northern Trust Corp now owns 40,235 shares of the technology company’s stock valued at $2,234,000 after buying an additional 1,002 shares during the last quarter. Institutional investors own 48.86% of the company’s stock.

Preformed Line Products Company Profile

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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