BidaskClub cut shares of Plexus Corp. (NASDAQ:PLXS) from a hold rating to a sell rating in a report issued on Saturday, August 5th.

Several other equities analysts have also recently issued reports on the company. Zacks Investment Research cut Plexus Corp. from a hold rating to a sell rating in a report on Tuesday, July 25th. Citigroup Inc. boosted their price objective on Plexus Corp. from $56.00 to $59.00 and gave the company a neutral rating in a report on Friday, July 21st. Deutsche Bank AG boosted their price objective on Plexus Corp. from $50.00 to $54.00 and gave the company a hold rating in a report on Friday, July 21st. Stifel Nicolaus reissued a hold rating and issued a $54.00 price objective (up previously from $50.00) on shares of Plexus Corp. in a report on Friday, July 21st. Finally, ValuEngine cut Plexus Corp. from a buy rating to a hold rating in a report on Friday, July 14th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company. The stock currently has an average rating of Hold and a consensus price target of $58.25.

Plexus Corp. (NASDAQ PLXS) traded down 0.56% on Friday, reaching $49.75. The company’s stock had a trading volume of 132,526 shares. The company has a market capitalization of $1.67 billion, a price-to-earnings ratio of 16.80 and a beta of 0.93. The firm’s 50 day moving average price is $52.59 and its 200-day moving average price is $53.98. Plexus Corp. has a 1-year low of $44.35 and a 1-year high of $58.74.

Plexus Corp. (NASDAQ:PLXS) last announced its earnings results on Wednesday, July 19th. The technology company reported $0.74 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.72 by $0.02. Plexus Corp. had a return on equity of 10.76% and a net margin of 4.07%. The firm had revenue of $618.80 million for the quarter, compared to the consensus estimate of $608.95 million. During the same period in the previous year, the business earned $0.82 EPS. The firm’s revenue for the quarter was down 7.3% on a year-over-year basis. Equities analysts forecast that Plexus Corp. will post $3.22 earnings per share for the current year.

COPYRIGHT VIOLATION NOTICE: This piece of content was originally published by The Cerbat Gem and is owned by of The Cerbat Gem. If you are viewing this piece of content on another domain, it was copied illegally and republished in violation of United States and international trademark and copyright legislation. The legal version of this piece of content can be accessed at https://www.thecerbatgem.com/2017/08/18/bidaskclub-lowers-plexus-corp-nasdaqplxs-to-sell-updated.html.

In other Plexus Corp. news, VP Steven J. Frisch sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $54.82, for a total transaction of $137,050.00. Following the completion of the sale, the vice president now directly owns 20,478 shares in the company, valued at approximately $1,122,603.96. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Ronnie Darroch sold 26,757 shares of the business’s stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $54.94, for a total value of $1,470,029.58. Following the sale, the vice president now owns 9,397 shares of the company’s stock, valued at $516,271.18. The disclosure for this sale can be found here. Insiders sold a total of 75,106 shares of company stock valued at $4,116,356 in the last ninety days. 4.30% of the stock is currently owned by insiders.

Large investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its stake in Plexus Corp. by 3.7% in the first quarter. Dimensional Fund Advisors LP now owns 2,661,720 shares of the technology company’s stock worth $153,848,000 after buying an additional 95,203 shares during the period. Ameriprise Financial Inc. raised its stake in Plexus Corp. by 11.9% in the first quarter. Ameriprise Financial Inc. now owns 337,760 shares of the technology company’s stock worth $19,522,000 after buying an additional 35,999 shares during the period. Municipal Employees Retirement System of Michigan raised its stake in Plexus Corp. by 1.2% in the first quarter. Municipal Employees Retirement System of Michigan now owns 12,950 shares of the technology company’s stock worth $749,000 after buying an additional 150 shares during the period. Thrivent Financial For Lutherans raised its stake in Plexus Corp. by 5.4% in the first quarter. Thrivent Financial For Lutherans now owns 19,050 shares of the technology company’s stock worth $1,101,000 after buying an additional 980 shares during the period. Finally, Swiss National Bank raised its stake in Plexus Corp. by 2.0% in the first quarter. Swiss National Bank now owns 55,200 shares of the technology company’s stock worth $3,191,000 after buying an additional 1,100 shares during the period. Institutional investors own 93.03% of the company’s stock.

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.

Analyst Recommendations for Plexus Corp. (NASDAQ:PLXS)

Receive News & Stock Ratings for Plexus Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Plexus Corp. and related stocks with our FREE daily email newsletter.