Plexus Corp. (PLXS) Receives $49.50 Average Target Price from Analysts
Shares of Plexus Corp. (NASDAQ:PLXS) have earned a consensus rating of “Hold” from the five ratings firms that are currently covering the firm. Four equities research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $49.50.
A number of equities analysts have recently issued reports on the company. B. Riley restated a “neutral” rating and issued a $50.00 price target on shares of Plexus Corp. in a research note on Sunday, August 14th. Needham & Company LLC set a $52.00 target price on Plexus Corp. and gave the stock a “buy” rating in a report on Friday, September 16th. Finally, Zacks Investment Research raised Plexus Corp. from a “hold” rating to a “buy” rating and set a $51.00 target price on the stock in a report on Monday, October 31st.
Plexus Corp. (NASDAQ:PLXS) opened at 50.85 on Thursday. The company’s 50-day moving average price is $46.72 and its 200 day moving average price is $45.28. The stock has a market capitalization of $1.70 billion, a PE ratio of 22.70 and a beta of 1.12. Plexus Corp. has a 52-week low of $28.72 and a 52-week high of $51.11.
Plexus Corp. (NASDAQ:PLXS) last released its quarterly earnings results on Wednesday, October 26th. The company reported $0.82 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.02. The firm had revenue of $653.06 million for the quarter, compared to the consensus estimate of $670.53 million. Plexus Corp. had a return on equity of 9.77% and a net margin of 2.99%. The company’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same period last year, the business posted $0.69 EPS. Equities analysts forecast that Plexus Corp. will post $3.27 EPS for the current fiscal year.
In other Plexus Corp. news, insider Yong Jin Lim sold 5,000 shares of the firm’s stock in a transaction dated Friday, August 26th. The stock was sold at an average price of $46.49, for a total transaction of $232,450.00. Following the sale, the insider now directly owns 50,000 shares of the company’s stock, valued at $2,324,500. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Dean A. Foate sold 14,952 shares of the firm’s stock in a transaction dated Thursday, November 17th. The shares were sold at an average price of $50.19, for a total value of $750,440.88. Following the sale, the chairman now directly owns 238,856 shares in the company, valued at $11,988,182.64. The disclosure for this sale can be found here. Company insiders own 5.30% of the company’s stock.
A number of large investors have recently bought and sold shares of the stock. Acrospire Investment Management LLC boosted its stake in Plexus Corp. by 85.7% in the third quarter. Acrospire Investment Management LLC now owns 2,600 shares of the company’s stock worth $122,000 after buying an additional 1,200 shares in the last quarter. PineBridge Investments L.P. raised its position in shares of Plexus Corp. by 3.7% in the second quarter. PineBridge Investments L.P. now owns 4,229 shares of the company’s stock worth $183,000 after buying an additional 152 shares during the last quarter. Quadrature Capital Ltd purchased a new position in shares of Plexus Corp. during the third quarter worth $201,000. Teacher Retirement System of Texas raised its position in shares of Plexus Corp. by 13.7% in the second quarter. Teacher Retirement System of Texas now owns 4,678 shares of the company’s stock worth $202,000 after buying an additional 563 shares during the last quarter. Finally, ProShare Advisors LLC purchased a new position in shares of Plexus Corp. during the second quarter worth $209,000. 94.12% of the stock is currently owned by institutional investors and hedge funds.
About Plexus Corp.
Plexus Corp. (Plexus) and its subsidiaries are engaged in the electronic manufacturing services (EMS) industry. Plexus 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.
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