Plexus Corp. (PLXS) Receives Consensus Recommendation of “Hold” from Analysts
Plexus Corp. (NASDAQ:PLXS) has been assigned a consensus recommendation of “Hold” from the seven brokerages that are covering the firm. One equities research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $57.00.
PLXS has been the subject of a number of research analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $63.00 price objective (up from $60.00) on shares of Plexus Corp. in a research report on Saturday, March 11th. Zacks Investment Research lowered shares of Plexus Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, March 22nd. JPMorgan Chase & Co. began coverage on shares of Plexus Corp. in a research note on Tuesday, April 4th. They issued a “neutral” rating and a $65.00 price objective on the stock. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $57.00 price objective on shares of Plexus Corp. in a research note on Saturday, April 22nd.
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Plexus Corp. (NASDAQ:PLXS) traded down 0.06% on Friday, reaching $49.65. 65,029 shares of the company traded hands. The firm has a market cap of $1.67 billion, a P/E ratio of 16.66 and a beta of 1.00. The stock has a 50-day moving average price of $53.87 and a 200-day moving average price of $53.78. Plexus Corp. has a 52-week low of $41.13 and a 52-week high of $58.74.
Plexus Corp. (NASDAQ:PLXS) last issued its earnings results on Wednesday, April 19th. The technology company reported $0.84 EPS for the quarter, beating the consensus estimate of $0.76 by $0.08. The company had revenue of $604.30 million during the quarter, compared to analysts’ expectations of $633.72 million. Plexus Corp. had a net margin of 3.50% and a return on equity of 10.92%. The business’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.55 EPS. Analysts anticipate that Plexus Corp. will post $3.23 earnings per share for the current fiscal year.
In other Plexus Corp. news, Director Michael V. Schrock sold 5,000 shares of Plexus Corp. stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $51.37, for a total transaction of $256,850.00. Following the transaction, the director now directly owns 28,298 shares of the company’s stock, valued at $1,453,668.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Todd P. Kelsey sold 2,000 shares of Plexus Corp. stock in a transaction that occurred on Wednesday, April 26th. The stock was sold at an average price of $53.49, for a total transaction of $106,980.00. Following the transaction, the chief executive officer now directly owns 57,175 shares in the company, valued at $3,058,290.75. The disclosure for this sale can be found here. 4.30% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of PLXS. BlackRock Inc. boosted its stake in Plexus Corp. by 50,519.1% in the first quarter. BlackRock Inc. now owns 4,267,193 shares of the technology company’s stock valued at $246,644,000 after buying an additional 4,258,763 shares during the period. Norges Bank bought a new stake in Plexus Corp. during the fourth quarter valued at $22,421,000. Vanguard Group Inc. boosted its stake in Plexus Corp. by 6.8% in the first quarter. Vanguard Group Inc. now owns 3,256,888 shares of the technology company’s stock valued at $188,249,000 after buying an additional 207,360 shares during the period. Dimensional Fund Advisors LP boosted its stake in Plexus Corp. by 7.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,566,517 shares of the technology company’s stock valued at $138,696,000 after buying an additional 174,101 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in Plexus Corp. by 40.4% in the first quarter. Bank of New York Mellon Corp now owns 594,199 shares of the technology company’s stock valued at $34,344,000 after buying an additional 170,844 shares during the period. 94.05% of the stock is currently owned by institutional investors.
About Plexus Corp.
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.
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