Plexus (NASDAQ:PLXS) was downgraded by TheStreet from an “a-” rating to a “c+” rating in a report issued on Wednesday.
Several other equities analysts have also issued reports on PLXS. JPMorgan Chase & Co. lowered Plexus from an “overweight” rating to a “neutral” rating and set a $62.00 price objective for the company. in a research report on Tuesday, October 10th. ValuEngine upgraded Plexus from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Longbow Research raised Plexus from a “neutral” rating to a “buy” rating in a research report on Monday, January 8th. Zacks Investment Research downgraded Plexus from a “hold” rating to a “sell” rating in a research report on Monday, October 30th. Finally, Citigroup upped their price target on Plexus from $59.00 to $65.00 and gave the stock a “neutral” rating in a research report on Friday, October 27th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $59.17.
Shares of Plexus (PLXS) traded up $0.44 on Wednesday, hitting $60.56. The company had a trading volume of 225,219 shares, compared to its average volume of 188,085. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.78 and a quick ratio of 1.06. Plexus has a 1-year low of $49.06 and a 1-year high of $66.78. The firm has a market cap of $2,040.00, a price-to-earnings ratio of -118.75 and a beta of 0.88.
In other news, VP Ronnie Darroch sold 4,513 shares of the stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $61.10, for a total value of $275,744.30. Following the completion of the sale, the vice president now owns 9,677 shares of the company’s stock, valued at approximately $591,264.70. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Dean A. Foate sold 12,300 shares of the stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $63.41, for a total value of $779,943.00. Following the completion of the sale, the chairman now directly owns 295,220 shares of the company’s stock, valued at approximately $18,719,900.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 205,696 shares of company stock valued at $12,706,971. Insiders own 3.70% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in PLXS. FMR LLC boosted its holdings in shares of Plexus by 546.1% in the 2nd quarter. FMR LLC now owns 1,111,655 shares of the technology company’s stock valued at $58,440,000 after buying an additional 939,589 shares during the last quarter. Franklin Resources Inc. acquired a new stake in shares of Plexus in the 2nd quarter valued at approximately $12,449,000. Dimensional Fund Advisors LP boosted its holdings in shares of Plexus by 5.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,817,137 shares of the technology company’s stock valued at $148,098,000 after buying an additional 155,417 shares during the last quarter. Vaughan Nelson Investment Management L.P. boosted its holdings in shares of Plexus by 24.3% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 525,550 shares of the technology company’s stock valued at $29,473,000 after buying an additional 102,575 shares during the last quarter. Finally, Brandywine Global Investment Management LLC acquired a new stake in shares of Plexus in the 2nd quarter valued at approximately $5,016,000. 93.95% of the stock is owned by institutional investors.
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Plexus 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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