Plantronics Inc (PLT) Given Consensus Rating of “Hold” by Brokerages

Shares of Plantronics Inc (NYSE:PLT) have been given an average rating of “Hold” by the seven ratings firms that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and three have given a buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $58.75.

PLT has been the topic of a number of recent analyst reports. Zacks Investment Research raised shares of Plantronics from a “sell” rating to a “hold” rating in a research report on Tuesday, October 3rd. Roth Capital set a $55.00 target price on shares of Plantronics and gave the company a “buy” rating in a research report on Wednesday, November 1st. TheStreet raised shares of Plantronics from a “c+” rating to a “b” rating in a research report on Friday, November 24th. Sidoti raised shares of Plantronics from a “neutral” rating to a “buy” rating and set a $60.00 target price on the stock in a research report on Tuesday, January 2nd. Finally, Northland Securities set a $60.00 target price on shares of Plantronics and gave the company a “buy” rating in a research report on Friday, January 12th.

In other Plantronics news, Director Maria Martinez sold 2,874 shares of the firm’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $51.25, for a total transaction of $147,292.50. Following the transaction, the director now directly owns 7,389 shares of the company’s stock, valued at approximately $378,686.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John Hart sold 21,083 shares of the firm’s stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $52.56, for a total transaction of $1,108,122.48. Following the transaction, the director now directly owns 11,094 shares in the company, valued at $583,100.64. The disclosure for this sale can be found here. Insiders sold a total of 27,145 shares of company stock worth $1,420,777 over the last ninety days. Insiders own 3.20% of the company’s stock.

A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its position in Plantronics by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 2,762,404 shares of the technology company’s stock worth $144,502,000 after purchasing an additional 34,223 shares during the last quarter. State Street Corp grew its position in Plantronics by 3.2% during the 2nd quarter. State Street Corp now owns 1,221,003 shares of the technology company’s stock worth $63,875,000 after purchasing an additional 38,421 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Plantronics by 2.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 858,695 shares of the technology company’s stock worth $37,972,000 after purchasing an additional 18,134 shares during the last quarter. Northern Trust Corp grew its position in Plantronics by 0.9% during the 2nd quarter. Northern Trust Corp now owns 680,739 shares of the technology company’s stock worth $35,609,000 after purchasing an additional 5,984 shares during the last quarter. Finally, Macquarie Group Ltd. grew its position in Plantronics by 13.1% during the 3rd quarter. Macquarie Group Ltd. now owns 535,506 shares of the technology company’s stock worth $23,680,000 after purchasing an additional 61,984 shares during the last quarter. 90.89% of the stock is currently owned by institutional investors.

Shares of Plantronics (NYSE PLT) opened at $55.07 on Friday. Plantronics has a 52-week low of $41.28 and a 52-week high of $58.27. The company has a debt-to-equity ratio of 1.27, a current ratio of 6.44 and a quick ratio of 5.90. The company has a market cap of $1,806.07, a P/E ratio of 22.66, a price-to-earnings-growth ratio of 1.66 and a beta of 1.31.

Plantronics (NYSE:PLT) last announced its quarterly earnings data on Tuesday, October 31st. The technology company reported $0.60 EPS for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.10. Plantronics had a net margin of 9.41% and a return on equity of 20.12%. equities research analysts anticipate that Plantronics will post 2.19 earnings per share for the current year.

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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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