Plexus (PLXS) Downgraded to C+ at TheStreet
Plexus (NASDAQ:PLXS) was downgraded by equities researchers at TheStreet from an “a-” rating to a “c+” rating in a research note issued to investors on Wednesday.
PLXS has been the subject of a number of other research reports. ValuEngine raised Plexus from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. JPMorgan Chase & Co. lowered Plexus from an “overweight” rating to a “neutral” rating and set a $62.00 price objective for the company. in a research report on Tuesday, October 10th. Longbow Research raised Plexus from a “neutral” rating to a “buy” rating in a research report on Monday, January 8th. Zacks Investment Research lowered Plexus from a “hold” rating to a “sell” rating in a research report on Monday, October 30th. Finally, Citigroup raised their price objective on Plexus from $59.00 to $65.00 and gave the company a “neutral” rating in a research report on Friday, October 27th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $59.17.
Shares of Plexus (PLXS) traded up $0.44 during mid-day trading on Wednesday, reaching $60.56. The company had a trading volume of 225,219 shares, compared to its average volume of 188,085. Plexus has a 12 month low of $49.06 and a 12 month high of $66.78. The stock has a market capitalization of $2,040.00, a price-to-earnings ratio of -118.75 and a beta of 0.88. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.78 and a quick ratio of 1.06.
In other news, Chairman Dean A. Foate sold 1,000 shares of the firm’s stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $60.38, for a total transaction of $60,380.00. Following the completion of the transaction, the chairman now directly owns 288,920 shares in the company, valued at $17,444,989.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Angelo Michael Ninivaggi, Jr. sold 16,000 shares of the firm’s stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $61.58, for a total value of $985,280.00. Following the transaction, the chief accounting officer now owns 18,159 shares of the company’s stock, valued at $1,118,231.22. The disclosure for this sale can be found here. Insiders have sold 205,696 shares of company stock valued at $12,706,971 in the last three months. Insiders own 3.70% of the company’s stock.
Large investors have recently modified their holdings of the company. Mutual of America Capital Management LLC increased its holdings in shares of Plexus by 2.8% during the third quarter. Mutual of America Capital Management LLC now owns 68,101 shares of the technology company’s stock valued at $3,819,000 after acquiring an additional 1,861 shares in the last quarter. Disciplined Growth Investors Inc. MN increased its holdings in shares of Plexus by 0.5% during the second quarter. Disciplined Growth Investors Inc. MN now owns 3,038,867 shares of the technology company’s stock valued at $159,753,000 after acquiring an additional 16,329 shares in the last quarter. Allianz Asset Management GmbH increased its holdings in shares of Plexus by 45.7% during the third quarter. Allianz Asset Management GmbH now owns 63,817 shares of the technology company’s stock valued at $3,579,000 after acquiring an additional 20,010 shares in the last quarter. Brandywine Global Investment Management LLC bought a new position in shares of Plexus during the second quarter valued at $5,016,000. Finally, FMR LLC increased its holdings in shares of Plexus by 546.1% during the second quarter. FMR LLC now owns 1,111,655 shares of the technology company’s stock valued at $58,440,000 after acquiring an additional 939,589 shares in the last quarter. Hedge funds and other institutional investors own 93.95% of the company’s stock.
WARNING: “Plexus (PLXS) Downgraded to C+ at TheStreet” was originally published by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this story on another domain, it was copied illegally and republished in violation of US & international trademark & copyright laws. The legal version of this story can be read at https://www.thecerbatgem.com/2018/01/19/plexus-plxs-downgraded-to-c-at-thestreet.html.
Plexus 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.
Receive News & Ratings for Plexus Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Plexus and related companies with MarketBeat.com's FREE daily email newsletter.