Deutsche Bank AG Boosts Plexus Corp. (NASDAQ:PLXS) Price Target to $54.00
Plexus Corp. (NASDAQ:PLXS) had its price target boosted by analysts at Deutsche Bank AG from $50.00 to $54.00 in a note issued to investors on Friday. The brokerage currently has a “hold” rating on the technology company’s stock. Deutsche Bank AG’s price target would indicate a potential downside of 0.84% from the stock’s previous close.
Other research analysts have also issued reports about the stock. Stifel Nicolaus restated a “hold” rating and set a $54.00 price objective on shares of Plexus Corp. in a research note on Friday. ValuEngine lowered shares of Plexus Corp. from a “buy” rating to a “hold” rating in a research note on Friday, July 14th. BidaskClub lowered shares of Plexus Corp. from a “buy” rating to a “hold” rating in a research note on Thursday, June 15th. Zacks Investment Research upgraded shares of Plexus Corp. from a “sell” rating to a “hold” rating in a research note on Wednesday, June 21st. Finally, Royal Bank Of Canada restated a “sector perform” rating and set a $57.00 price objective on shares of Plexus Corp. in a research note on Saturday, April 22nd. Ten investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $58.25.
Plexus Corp. (NASDAQ PLXS) traded down 0.86% during midday trading on Friday, reaching $54.46. 276,320 shares of the company’s stock were exchanged. The company has a market cap of $1.84 billion, a price-to-earnings ratio of 18.28 and a beta of 0.93. The firm has a 50-day moving average price of $52.66 and a 200 day moving average price of $54.20. Plexus Corp. has a 52 week low of $43.56 and a 52 week high of $58.74.
Plexus Corp. (NASDAQ:PLXS) last released its quarterly earnings data on Wednesday, July 19th. The technology company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.02. The company had revenue of $618.80 million for the quarter, compared to analyst estimates of $608.95 million. Plexus Corp. had a net margin of 4.07% and a return on equity of 10.92%. Plexus Corp.’s revenue for the quarter was down 7.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.82 EPS. Analysts anticipate that Plexus Corp. will post $3.23 EPS for the current year.
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In related news, Director Michael V. Schrock sold 5,000 shares of Plexus Corp. stock in a transaction dated Tuesday, May 16th. The shares were sold at an average price of $51.37, for a total transaction of $256,850.00. Following the completion of the sale, the director now owns 28,298 shares of the company’s stock, valued at approximately $1,453,668.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Todd P. Kelsey sold 2,000 shares of Plexus Corp. stock in a transaction dated Wednesday, April 26th. The stock was sold at an average price of $53.49, for a total transaction of $106,980.00. Following the sale, the chief executive officer now directly owns 57,175 shares of the company’s stock, valued at approximately $3,058,290.75. The disclosure for this sale can be found here. Insiders have sold a total of 16,449 shares of company stock valued at $872,778 in the last ninety days. 4.30% of the stock is currently owned by insiders.
Hedge funds have recently bought and sold shares of the stock. Ameritas Investment Partners Inc. acquired a new stake in Plexus Corp. during the first quarter worth about $166,000. Cambridge Investment Research Advisors Inc. acquired a new stake in Plexus Corp. during the first quarter worth about $200,000. Appleton Group LLC acquired a new stake in Plexus Corp. during the first quarter worth about $211,000. SG Americas Securities LLC increased its stake in Plexus Corp. by 20.0% in the first quarter. SG Americas Securities LLC now owns 3,655 shares of the technology company’s stock worth $211,000 after buying an additional 609 shares in the last quarter. Finally, State of Alaska Department of Revenue increased its stake in Plexus Corp. by 2.8% in the first quarter. State of Alaska Department of Revenue now owns 3,720 shares of the technology company’s stock worth $215,000 after buying an additional 100 shares in the last quarter. 93.60% of the stock is owned by hedge funds and other 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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