Citigroup Inc. Increases Plexus Corp. Price Target to $38.00 (PLXS)
Investment analysts at Citigroup Inc. upped their price target on shares of Plexus Corp. (NASDAQ:PLXS) to $38.00 in a note issued to investors on Friday, Analyst Ratings Network reports. Citigroup Inc.’s price objective suggests a potential upside of 8.39% from the stock’s previous close.
Plexus Corp. (NASDAQ:PLXS) traded up 1.40% during mid-day trading on Friday, hitting $35.55. The stock had a trading volume of 51,126 shares. Plexus Corp. has a 52 week low of $19.63 and a 52 week high of $36.13. The stock’s 50-day moving average is $34.48 and its 200-day moving average is $29.28. The company has a market cap of $1.200 billion and a price-to-earnings ratio of 20.68.
Plexus Corp. (NASDAQ:PLXS) last announced its earnings results on Wednesday, July 17th. The company reported $0.68 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.58 by $0.10. The company had revenue of $571.90 million for the quarter, compared to the consensus estimate of $564.99 million. During the same quarter last year, the company posted $0.66 earnings per share. Plexus Corp.’s revenue was down 6.1% compared to the same quarter last year. Analysts expect that Plexus Corp. will post $2.30 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on PLXS. Analysts at RBC Capital raised their price target on shares of Plexus Corp. (NASDAQ:PLXS) from $27.00 to $32.00 in a research note to investors on Friday, July 19th. Separately, analysts at Bank of America Corp. reiterated a “neutral” rating on shares of Plexus Corp. (NASDAQ:PLXS) in a research note to investors on Friday, July 19th. They now have a $34.00 price target on the stock, up previously from $29.00. Finally, analysts at Needham & Company downgraded shares of Plexus Corp. (NASDAQ:PLXS) from a “buy” rating to a “hold” rating in a research note to investors on Monday, July 8th. They now have a $28.00 price target on the stock.
Six equities research analysts have rated the stock with a hold rating, The company presently has an average rating of “Hold” and an average price target of $30.83.
Plexus Corp. (NASDAQ:PLXS) and its subsidiaries delivers solutions to its customers through its Product Realization Value Stream.
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