Plantronics (NYSE:POLY) Stock Price Up 6.8%

Plantronics, Inc. (NYSE:POLY)’s share price rose 6.8% during trading on Thursday . The stock traded as high as $28.12 and last traded at $28.12. Approximately 11,502 shares were traded during trading, a decline of 98% from the average daily volume of 510,564 shares. The stock had previously closed at $26.33.

POLY has been the topic of several analyst reports. Evercore ISI reissued a “hold” rating and set a $30.00 target price on shares of Plantronics in a research report on Friday, October 8th. Morgan Stanley lowered their target price on shares of Plantronics from $37.00 to $35.00 and set an “equal weight” rating on the stock in a research report on Friday, July 30th. Finally, Zacks Investment Research raised shares of Plantronics from a “sell” rating to a “hold” rating and set a $28.00 target price on the stock in a research report on Monday, October 4th.

The business has a 50-day moving average of $28.55. The firm has a market capitalization of $1.19 billion, a P/E ratio of -58.14 and a beta of 1.84.

Plantronics (NYSE:POLY) last issued its quarterly earnings results on Thursday, July 29th. The company reported $0.60 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.40. The company had revenue of $431.17 million for the quarter, compared to the consensus estimate of $418.44 million. Plantronics had a negative return on equity of 127.71% and a negative net margin of 1.06%. On average, equities research analysts expect that Plantronics, Inc. will post 1.97 EPS for the current year.

In other news, COO Warren Schlichting acquired 2,000 shares of the stock in a transaction dated Monday, September 13th. The shares were acquired at an average cost of $28.94 per share, for a total transaction of $57,880.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO David M. Shull purchased 3,500 shares of the stock in a transaction on Tuesday, September 7th. The stock was bought at an average price of $30.00 per share, for a total transaction of $105,000.00. Following the completion of the transaction, the chief executive officer now directly owns 181,094 shares of the company’s stock, valued at $5,432,820. The disclosure for this purchase can be found here. Insiders own 1.50% of the company’s stock.

Plantronics Company Profile (NYSE:POLY)

Plantronics, Inc engages in the design, manufacture, and distribution of headsets, voice, video, and content sharing solutions. It operates through the following segments: Products and Services. The Products segment includes the firm’s headsets, voice, and video product lines. The Services segment includes the maintenance support on hardware devices, as well as professional, managed, and cloud services and solutions.

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