Shares of Plexus Corp. (NASDAQ:PLXS) have been given a consensus recommendation of “Buy” by the nine brokerages that are presently covering the firm, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $64.75.
A number of equities research analysts recently commented on the company. BidaskClub lowered Plexus from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 25th. ValuEngine upgraded Plexus from a “hold” rating to a “buy” rating in a research report on Monday, July 2nd. Zacks Investment Research lowered Plexus from a “buy” rating to a “hold” rating in a research report on Monday, April 30th. Needham & Company LLC restated a “buy” rating and set a $70.00 price target on shares of Plexus in a research report on Friday, July 20th. Finally, TheStreet upgraded Plexus from a “c+” rating to a “b” rating in a research report on Wednesday, April 25th.
Shares of PLXS stock traded up $0.07 during trading hours on Tuesday, hitting $61.10. The company had a trading volume of 132,613 shares, compared to its average volume of 168,543. Plexus has a 12 month low of $49.20 and a 12 month high of $66.78. The firm has a market cap of $1.96 billion, a P/E ratio of 18.86 and a beta of 0.73. The company has a current ratio of 2.11, a quick ratio of 1.05 and a debt-to-equity ratio of 0.20.
Plexus (NASDAQ:PLXS) last released its quarterly earnings data on Wednesday, July 18th. The technology company reported $0.79 earnings per share for the quarter, missing the consensus estimate of $0.82 by ($0.03). Plexus had a negative net margin of 1.11% and a positive return on equity of 11.37%. The company had revenue of $726.39 million during the quarter, compared to the consensus estimate of $721.08 million. During the same quarter in the prior year, the company posted $0.74 earnings per share. The company’s revenue for the quarter was up 17.4% on a year-over-year basis. sell-side analysts forecast that Plexus will post 3.15 EPS for the current year.
In other Plexus news, Chairman Dean A. Foate sold 34,900 shares of the company’s stock in a transaction on Wednesday, August 8th. The stock was sold at an average price of $61.47, for a total transaction of $2,145,303.00. Following the transaction, the chairman now owns 303,440 shares of the company’s stock, valued at approximately $18,652,456.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Todd P. Kelsey sold 14,250 shares of the stock in a transaction on Monday, July 23rd. The shares were sold at an average price of $61.22, for a total value of $872,385.00. Following the completion of the transaction, the chief executive officer now directly owns 75,031 shares in the company, valued at approximately $4,593,397.82. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 70,214 shares of company stock worth $4,291,878. 3.70% of the stock is owned by corporate insiders.
A number of institutional investors have recently modified their holdings of PLXS. Xact Kapitalforvaltning AB acquired a new stake in Plexus during the 4th quarter worth $215,000. Cambridge Investment Research Advisors Inc. bought a new position in Plexus during the 4th quarter worth about $201,000. Comerica Bank increased its holdings in Plexus by 2.6% during the 1st quarter. Comerica Bank now owns 35,537 shares of the technology company’s stock worth $2,225,000 after purchasing an additional 913 shares in the last quarter. SG Americas Securities LLC increased its holdings in Plexus by 36.3% during the 1st quarter. SG Americas Securities LLC now owns 11,599 shares of the technology company’s stock worth $693,000 after purchasing an additional 3,088 shares in the last quarter. Finally, Trexquant Investment LP bought a new position in Plexus during the 1st quarter worth about $270,000. 98.37% of the stock is currently owned by institutional investors and hedge funds.
Plexus Company Profile
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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