Plexus Corp. (PLXS) Sets New 52-Week High at $47.34
Shares of Plexus Corp. (NASDAQ:PLXS) reached a new 52-week high on Tuesday . The company traded as high as $47.34 and last traded at $46.30, with a volume of 49,499 shares trading hands. The stock had previously closed at $46.90.
PLXS has been the subject of a number of analyst reports. Needham & Company LLC set a $52.00 price objective on shares of Plexus Corp. and gave the company a “buy” rating in a research note on Friday. Citigroup Inc. raised their price objective on shares of Plexus Corp. from $45.00 to $50.00 and gave the company a “neutral” rating in a research note on Thursday, June 9th. B. Riley lowered shares of Plexus Corp. from a “buy” rating to a “neutral” rating and set a $50.00 price objective for the company. in a research note on Friday, July 22nd. Zacks Investment Research upgraded shares of Plexus Corp. from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a research note on Friday, July 22nd. Finally, Royal Bank Of Canada restated a “hold” rating and set a $46.00 price objective on shares of Plexus Corp. in a research note on Friday, June 10th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Plexus Corp. currently has an average rating of “Hold” and an average price target of $48.17.
The company has a 50 day moving average price of $46.22 and a 200 day moving average price of $43.00. The company has a market capitalization of $1.55 billion, a PE ratio of 19.55 and a beta of 1.23.
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Plexus Corp. (NASDAQ:PLXS) last released its quarterly earnings data on Wednesday, July 20th. The company reported $0.82 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.77 by $0.05. Plexus Corp. had a net margin of 3.16% and a return on equity of 9.95%. The company earned $667.60 million during the quarter, compared to analyst estimates of $655.37 million. During the same period in the prior year, the firm earned $0.69 earnings per share. The firm’s revenue for the quarter was down .3% compared to the same quarter last year. Equities research analysts anticipate that Plexus Corp. will post $2.64 EPS for the current fiscal year.
In related news, VP Todd P. Kelsey sold 2,000 shares of the company’s stock in a transaction dated Monday, July 25th. The shares were sold at an average price of $45.78, for a total value of $91,560.00. Following the completion of the sale, the vice president now directly owns 44,162 shares of the company’s stock, valued at $2,021,736.36. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Dean A. Foate sold 47,943 shares of the company’s stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $46.22, for a total transaction of $2,215,925.46. Following the completion of the sale, the chairman now directly owns 204,850 shares of the company’s stock, valued at $9,468,167. The disclosure for this sale can be found here. 5.30% of the stock is currently owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. raised its stake in Plexus Corp. by 0.3% in the first quarter. Goldman Sachs Group Inc. now owns 1,121,440 shares of the company’s stock worth $44,319,000 after buying an additional 3,292 shares during the period. State Street Corp raised its stake in Plexus Corp. by 6.3% in the first quarter. State Street Corp now owns 684,887 shares of the company’s stock worth $27,067,000 after buying an additional 40,685 shares during the period. Zebra Capital Management LLC raised its stake in Plexus Corp. by 16.2% in the first quarter. Zebra Capital Management LLC now owns 19,293 shares of the company’s stock worth $762,000 after buying an additional 2,683 shares during the period. Kempen Capital Management N.V. raised its stake in Plexus Corp. by 64.6% in the first quarter. Kempen Capital Management N.V. now owns 3,509 shares of the company’s stock worth $139,000 after buying an additional 1,377 shares during the period. Finally, Huntington Asset Advisors Inc. acquired a new stake in Plexus Corp. during the first quarter worth $326,000. 93.78% of the stock is owned by institutional investors.
Plexus Corp. Company Profile
Plexus Corp. (Plexus) and its subsidiaries are engaged in the electronic manufacturing services (EMS) industry. Plexus 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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