Plexus Corp. (PLXS) Given Consensus Rating of “Hold” by Brokerages
Plexus Corp. (NASDAQ:PLXS) has received an average recommendation of “Hold” from the seven ratings firms that are currently covering the firm. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $47.80.
Several research analysts have recently issued reports on PLXS shares. B. Riley reaffirmed a “buy” rating and issued a $50.00 target price on shares of Plexus Corp. in a research note on Thursday, June 16th. Needham & Company LLC raised their target price on shares of Plexus Corp. from $50.00 to $52.00 and gave the company a “buy” rating in a research note on Friday, July 22nd. Finally, Zacks Investment Research raised shares of Plexus Corp. from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a research note on Friday, July 22nd.
Shares of Plexus Corp. (NASDAQ:PLXS) traded down 1.34% on Thursday, reaching $45.57. 29,474 shares of the company were exchanged. The stock has a 50 day moving average price of $46.55 and a 200-day moving average price of $44.00. Plexus Corp. has a 12 month low of $28.72 and a 12 month high of $47.94. The stock has a market capitalization of $1.52 billion, a P/E ratio of 19.22 and a beta of 1.14.
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Plexus Corp. (NASDAQ:PLXS) last issued its quarterly earnings data on Wednesday, July 20th. The company reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.05. Plexus Corp. had a net margin of 3.16% and a return on equity of 9.95%. The firm had revenue of $667.60 million for the quarter, compared to analyst estimates of $655.37 million. During the same quarter in the prior year, the firm earned $0.69 EPS. The company’s revenue was down .3% on a year-over-year basis. On average, equities analysts expect that Plexus Corp. will post $2.64 EPS for the current fiscal year.
In other Plexus Corp. news, CAO Angelo Michael Ninivaggi, Jr. sold 2,250 shares of the firm’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $45.94, for a total transaction of $103,365.00. Following the sale, the chief accounting officer now directly owns 11,837 shares in the company, valued at approximately $543,791.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Dean A. Foate sold 47,943 shares of the firm’s stock in a transaction that occurred on 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 sale, the chairman now owns 204,850 shares in the company, 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.
A number of hedge funds have recently made changes to their positions in the company. Artemis Investment Management LLP bought a new stake in shares of Plexus Corp. during the second quarter valued at approximately $15,547,000. Smith Asset Management Group LP increased its stake in shares of Plexus Corp. by 205,750.0% in the second quarter. Smith Asset Management Group LP now owns 65,872 shares of the company’s stock valued at $2,846,000 after buying an additional 65,840 shares during the period. BlackRock Institutional Trust Company N.A. increased its stake in shares of Plexus Corp. by 0.5% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 840,885 shares of the company’s stock valued at $33,232,000 after buying an additional 4,445 shares during the period. TIAA CREF Investment Management LLC increased its stake in shares of Plexus Corp. by 29.0% in the first quarter. TIAA CREF Investment Management LLC now owns 142,198 shares of the company’s stock valued at $5,620,000 after buying an additional 31,985 shares during the period. Finally, Swiss National Bank increased its stake in shares of Plexus Corp. by 1.4% in the second quarter. Swiss National Bank now owns 56,200 shares of the company’s stock valued at $2,428,000 after buying an additional 800 shares during the period. Hedge funds and other institutional investors own 92.97% of the company’s stock.
About Plexus Corp.
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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