Plantronics Inc (PLT) Given Average Recommendation of “Hold” by Analysts

Shares of Plantronics Inc (NYSE:PLT) have earned an average rating of “Hold” from the seven brokerages that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $60.00.

A number of research firms recently commented on PLT. Sidoti upgraded 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. TheStreet downgraded Plantronics from a “b” rating to a “c” rating in a research report on Friday, February 2nd. Roth Capital upped their price objective on Plantronics from $55.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday, January 31st. Finally, Northland Securities set a $60.00 price objective on Plantronics and gave the company a “buy” rating in a research report on Friday, January 12th.

Shares of Plantronics (PLT) opened at $55.80 on Wednesday. The company has a debt-to-equity ratio of 1.50, a current ratio of 6.76 and a quick ratio of 6.16. The company has a market capitalization of $1,827.76, a PE ratio of 265.73, a P/E/G ratio of 1.46 and a beta of 1.37. Plantronics has a 52-week low of $41.28 and a 52-week high of $60.49.

Plantronics (NYSE:PLT) last posted its earnings results on Tuesday, January 30th. The technology company reported $1.02 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.23. The company had revenue of $226.50 million for the quarter, compared to the consensus estimate of $220.17 million. Plantronics had a return on equity of 22.22% and a net margin of 1.03%. The firm’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.79 earnings per share. analysts anticipate that Plantronics will post 2.52 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 9th. Shareholders of record on Tuesday, February 20th will be given a dividend of $0.15 per share. The ex-dividend date is Friday, February 16th. This represents a $0.60 dividend on an annualized basis and a yield of 1.08%. Plantronics’s dividend payout ratio (DPR) is presently 285.73%.

In other Plantronics news, insider Shantanu Sarkar sold 1,151 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $57.82, for a total transaction of $66,550.82. Following the sale, the insider now directly owns 17,564 shares in the company, valued at $1,015,550.48. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Joseph B. Burton sold 5,117 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $57.51, for a total value of $294,278.67. Following the sale, the chief executive officer now owns 89,685 shares in the company, valued at $5,157,784.35. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 29,851 shares of company stock worth $1,615,252. Company insiders own 3.20% of the company’s stock.

Hedge funds have recently modified their holdings of the business. C M Bidwell & Associates Ltd. purchased a new stake in Plantronics during the fourth quarter valued at approximately $195,000. Tower Research Capital LLC TRC grew its stake in shares of Plantronics by 69.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,659 shares of the technology company’s stock valued at $235,000 after buying an additional 1,904 shares during the last quarter. OxFORD Asset Management LLP bought a new position in shares of Plantronics during the second quarter valued at approximately $243,000. Koch Industries Inc. grew its stake in shares of Plantronics by 6,554.8% during the second quarter. Koch Industries Inc. now owns 248,691 shares of the technology company’s stock valued at $244,000 after buying an additional 244,954 shares during the last quarter. Finally, ING Groep NV bought a new position in shares of Plantronics during the fourth quarter valued at approximately $251,000. Institutional investors and hedge funds own 90.98% of the company’s stock.

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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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