Insider Selling: Plexus Corp. CAO Sells 3,500 Shares of Stock (PLXS)
Plexus Corp. (NASDAQ:PLXS) CAO Angelo Michael Ninivaggi, Jr. sold 3,500 shares of Plexus Corp. stock on the open market in a transaction dated Monday, October 28th. The stock was sold at an average price of $40.21, for a total value of $140,735.00. Following the sale, the chief accounting officer now directly owns 11,258 shares of the company’s stock, valued at approximately $452,684. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Plexus Corp. (NASDAQ:PLXS) traded down 0.92% on Wednesday, hitting $38.96. 246,862 shares of the company’s stock traded hands. Plexus Corp. has a 1-year low of $19.63 and a 1-year high of $36.13. The stock has a 50-day moving average of $34.55 and a 200-day moving average of $29.36. The company has a market cap of $1.309 billion and a price-to-earnings ratio of 16.66.
Plexus Corp. (NASDAQ:PLXS) last posted its quarterly earnings results on Thursday, October 24th. The company reported $0.67 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.67. The company had revenue of $567.73 million for the quarter, compared to the consensus estimate of $562.81 million. During the same quarter in the previous year, the company posted $0.66 earnings per share. The company’s revenue for the quarter was down 4.5% on a year-over-year basis. On average, analysts predict that Plexus Corp. will post $2.62 earnings per share for the current fiscal year.
A number of analysts have recently weighed in on PLXS shares. Analysts at Bank of America Corp. downgraded shares of Plexus Corp. from a “neutral” rating to an “underperform” rating in a research note to investors on Friday, October 25th. They now have a $36.00 price target on the stock, down previously from $40.53. Separately, analysts at Longbow Research downgraded shares of Plexus Corp. from a “buy” rating to a “neutral” rating in a research note to investors on Monday, October 21st. They now have a $40.00 price target on the stock. Finally, analysts at Goldman Sachs Group Inc. initiated coverage on shares of Plexus Corp. in a research note to investors on Wednesday, October 2nd. They set a “buy” rating and a $42.00 price target on the stock. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $37.71.
Plexus Corp. (NASDAQ:PLXS) and its subsidiaries delivers solutions to its customers through its Product Realization Value Stream.
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