Plantronics, Inc. (PLT) Receives Consensus Rating of “Hold” from Analysts
Plantronics, Inc. (NYSE:PLT) has earned an average recommendation of “Hold” from the six analysts that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $60.00.
Several brokerages have recently commented on PLT. Zacks Investment Research upgraded Plantronics from a “sell” rating to a “hold” rating in a research note on Tuesday, October 3rd. TheStreet cut Plantronics from a “b-” rating to a “c+” rating in a report on Monday, August 21st. J P Morgan Chase & Co cut Plantronics from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $63.00 to $60.00 in a report on Friday, July 28th. Northland Securities set a $57.00 price target on Plantronics and gave the stock a “buy” rating in a report on Tuesday, July 25th. Finally, BidaskClub cut Plantronics from a “sell” rating to a “strong sell” rating in a report on Wednesday, July 12th.
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Large investors have recently added to or reduced their stakes in the stock. Acrospire Investment Management LLC acquired a new stake in Plantronics during the 2nd quarter worth approximately $126,000. Riverhead Capital Management LLC lifted its holdings in Plantronics by 85.5% during the 2nd quarter. Riverhead Capital Management LLC now owns 2,597 shares of the technology company’s stock worth $136,000 after purchasing an additional 1,197 shares during the last quarter. LS Investment Advisors LLC lifted its holdings in Plantronics by 17.6% during the 2nd quarter. LS Investment Advisors LLC now owns 2,641 shares of the technology company’s stock worth $138,000 after purchasing an additional 395 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in Plantronics by 119.7% during the 1st quarter. Victory Capital Management Inc. now owns 2,810 shares of the technology company’s stock worth $152,000 after purchasing an additional 1,531 shares during the last quarter. Finally, Neuberger Berman Group LLC lifted its holdings in Plantronics by 0.8% during the 2nd quarter. Neuberger Berman Group LLC now owns 3,839 shares of the technology company’s stock worth $201,000 after purchasing an additional 31 shares during the last quarter. 91.20% of the stock is owned by institutional investors and hedge funds.
Plantronics (NYSE PLT) opened at 44.77 on Thursday. Plantronics has a one year low of $41.28 and a one year high of $58.27. The firm has a market capitalization of $1.46 billion, a price-to-earnings ratio of 18.20 and a beta of 1.28. The stock’s 50 day moving average price is $43.36 and its 200-day moving average price is $49.75.
Plantronics (NYSE:PLT) last issued its earnings results on Thursday, July 27th. The technology company reported $0.70 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.75 by ($0.05). Plantronics had a return on equity of 21.31% and a net margin of 9.40%. The business had revenue of $203.90 million for the quarter, compared to the consensus estimate of $217.11 million. During the same quarter in the prior year, the firm posted $0.76 earnings per share. The business’s revenue was down 8.6% compared to the same quarter last year. On average, equities research analysts expect that Plantronics will post $2.88 EPS for the current fiscal year.
Plantronics announced that its board has authorized a stock buyback program on Thursday, July 27th that permits the company to buyback 1,000,000 shares. This buyback authorization permits the technology company to purchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its stock is undervalued.
Plantronics Company Profile
Plantronics, Inc (Plantronics) is engaged in the design, manufacture, and distribution of headsets for business and consumer applications, and other specialty products for the hearing impaired. The Company is a global designer, manufacturer and marketer of communications headsets, telephone headset systems, other communication endpoints and accessories for the business and consumer markets.
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