Plexus Corp. (PLXS) Stock Rating Reaffirmed by Stifel Nicolaus
Plexus Corp. (NASDAQ:PLXS)‘s stock had its “hold” rating reiterated by research analysts at Stifel Nicolaus in a research note issued to investors on Tuesday. They presently have a $54.00 target price on the technology company’s stock. Stifel Nicolaus’ target price would suggest a potential upside of 3.39% from the stock’s current price.
A number of other research analysts also recently commented on the company. J P Morgan Chase & Co upgraded Plexus Corp. from a “neutral” rating to an “overweight” rating and set a $62.00 price objective for the company in a research note on Monday, August 28th. BidaskClub downgraded Plexus Corp. from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 16th. Zacks Investment Research downgraded Plexus Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. Citigroup Inc. upped their price objective on Plexus Corp. from $56.00 to $59.00 and gave the stock a “neutral” rating in a research note on Friday, July 21st. Finally, Deutsche Bank AG upped their price objective on Plexus Corp. from $50.00 to $54.00 and gave the stock a “hold” rating in a research note on Friday, July 21st. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $57.88.
Shares of Plexus Corp. (NASDAQ PLXS) traded up 0.86% during trading on Tuesday, hitting $52.68. 9,319 shares of the stock were exchanged. The stock has a market cap of $1.77 billion, a PE ratio of 17.79 and a beta of 0.94. The stock’s 50 day moving average price is $51.87 and its 200 day moving average price is $53.42. Plexus Corp. has a one year low of $44.35 and a one year high of $58.74.
Plexus Corp. (NASDAQ:PLXS) last issued its quarterly earnings data on Wednesday, July 19th. The technology company reported $0.74 EPS for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.02. The firm had revenue of $618.80 million during the quarter, compared to the consensus estimate of $608.95 million. Plexus Corp. had a return on equity of 10.76% and a net margin of 4.07%. The firm’s revenue was down 7.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.82 EPS. Equities research analysts predict that Plexus Corp. will post $3.22 EPS for the current year.
In other Plexus Corp. news, CAO Angelo Michael Ninivaggi, Jr. sold 10,350 shares of the business’s stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $49.46, for a total transaction of $511,911.00. Following the completion of the transaction, the chief accounting officer now owns 17,009 shares in the company, valued at approximately $841,265.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Oliver K. Mihm sold 1,300 shares of the business’s stock in a transaction on Wednesday, July 19th. The stock was sold at an average price of $53.80, for a total value of $69,940.00. Following the transaction, the insider now owns 6,223 shares of the company’s stock, valued at approximately $334,797.40. The disclosure for this sale can be found here. Insiders have sold a total of 90,580 shares of company stock valued at $4,862,392 in the last quarter. 4.30% of the stock is currently owned by insiders.
Hedge funds have recently made changes to their positions in the business. Riverhead Capital Management LLC boosted its position in Plexus Corp. by 69.0% during the 2nd quarter. Riverhead Capital Management LLC now owns 2,366 shares of the technology company’s stock worth $124,000 after acquiring an additional 966 shares during the period. Ameritas Investment Partners Inc. acquired a new position in Plexus Corp. during the 1st quarter worth $166,000. Cambridge Investment Research Advisors Inc. acquired a new position in Plexus Corp. during the 1st quarter worth $200,000. SG Americas Securities LLC boosted its position in Plexus Corp. by 20.0% during the 1st quarter. SG Americas Securities LLC now owns 3,655 shares of the technology company’s stock worth $211,000 after acquiring an additional 609 shares during the period. Finally, Neuberger Berman Group LLC boosted its position in Plexus Corp. by 0.8% during the 2nd quarter. Neuberger Berman Group LLC now owns 3,834 shares of the technology company’s stock worth $202,000 after acquiring an additional 31 shares during the period. Institutional investors own 94.51% of the company’s stock.
Plexus Corp. Company Profile
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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