Plexus Corp. (PLXS) Receives Consensus Rating of “Hold” from Brokerages
Plexus Corp. (NASDAQ:PLXS) has received an average rating of “Hold” from the eleven ratings firms that are currently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $57.43.
A number of research firms have recently commented on PLXS. ValuEngine lowered shares of Plexus Corp. from a “buy” rating to a “hold” rating in a research report on Friday, July 14th. BidaskClub lowered shares of Plexus Corp. from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Zacks Investment Research lowered shares of Plexus Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. Deutsche Bank AG lifted their target price on shares of Plexus Corp. from $50.00 to $54.00 and gave the company a “hold” rating in a research report on Friday, July 21st. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $54.00 target price (up from $50.00) on shares of Plexus Corp. in a research report on Friday, July 21st.
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In related news, Director Michael V. Schrock sold 5,000 shares of the company’s stock in a transaction dated Tuesday, May 16th. The shares were sold at an average price of $51.37, for a total value of $256,850.00. Following the transaction, the director now owns 28,298 shares in the company, valued at approximately $1,453,668.26. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Steven J. Frisch sold 2,500 shares of the business’s stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $54.82, for a total value of $137,050.00. Following the completion of the transaction, the vice president now directly owns 20,478 shares of the company’s stock, valued at approximately $1,122,603.96. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 80,106 shares of company stock worth $4,373,206. Company insiders own 4.30% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in PLXS. Comerica Bank increased its stake in shares of Plexus Corp. by 5.7% in the fourth quarter. Comerica Bank now owns 35,610 shares of the technology company’s stock worth $1,955,000 after buying an additional 1,923 shares in the last quarter. State Street Corp raised its stake in Plexus Corp. by 9.1% in the fourth quarter. State Street Corp now owns 817,047 shares of the technology company’s stock worth $44,154,000 after buying an additional 68,072 shares during the last quarter. Renaissance Technologies LLC raised its stake in Plexus Corp. by 19.4% in the fourth quarter. Renaissance Technologies LLC now owns 225,400 shares of the technology company’s stock worth $12,181,000 after buying an additional 36,600 shares during the last quarter. Thrivent Financial for Lutherans raised its position in shares of Plexus Corp. by 6.4% in the fourth quarter. Thrivent Financial for Lutherans now owns 18,070 shares of the technology company’s stock valued at $976,000 after buying an additional 1,090 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Plexus Corp. during the fourth quarter valued at approximately $22,421,000. 95.20% of the stock is owned by institutional investors.
Plexus Corp. (NASDAQ:PLXS) opened at 52.34 on Monday. The firm has a market capitalization of $1.76 billion, a P/E ratio of 17.67 and a beta of 0.93. Plexus Corp. has a 1-year low of $44.35 and a 1-year high of $58.74. The stock has a 50 day moving average of $53.02 and a 200-day moving average of $54.16.
Plexus Corp. (NASDAQ:PLXS) last issued its earnings results on Wednesday, July 19th. The technology company reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.02. The firm had revenue of $618.80 million during the quarter, compared to analyst estimates of $608.95 million. Plexus Corp. had a net margin of 4.07% and a return on equity of 10.76%. The company’s quarterly revenue was down 7.3% on a year-over-year basis. During the same quarter last year, the business earned $0.82 earnings per share. On average, equities research analysts anticipate that Plexus Corp. will post $3.22 earnings per share for the current year.
Plexus Corp. Company Profile
Plexus Corp. (Plexus) and its subsidiaries are engaged in the electronic manufacturing services (EMS) industry. The Company 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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