Plexus Corp. (NASDAQ:PLXS) Receives $112.00 Consensus Price Target from Analysts

Plexus Corp. (NASDAQ:PLXS) has earned an average recommendation of “Moderate Buy” from the four analysts that are currently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $107.75.

Several equities research analysts recently commented on the company. Stifel Nicolaus boosted their target price on Plexus from $90.00 to $95.00 and gave the stock a “hold” rating in a report on Friday. Benchmark reiterated a “buy” rating and set a $110.00 price objective on shares of Plexus in a research report on Wednesday, January 17th. Sidoti downgraded Plexus from a “buy” rating to a “neutral” rating and set a $112.00 price objective for the company. in a research report on Tuesday, January 9th. TheStreet downgraded Plexus from a “b” rating to a “c+” rating in a research report on Tuesday, February 13th. Finally, Needham & Company LLC increased their price objective on Plexus from $107.00 to $114.00 and gave the company a “buy” rating in a research report on Friday.

Plexus Stock Up 1.2 %

Shares of Plexus stock opened at $100.28 on Friday. The company has a quick ratio of 0.62, a current ratio of 1.51 and a debt-to-equity ratio of 0.15. The business has a 50-day moving average price of $94.48 and a 200 day moving average price of $98.44. Plexus has a fifty-two week low of $83.84 and a fifty-two week high of $114.06. The firm has a market cap of $2.77 billion, a P/E ratio of 27.70 and a beta of 1.02.

Plexus (NASDAQ:PLXS) last issued its earnings results on Wednesday, April 24th. The technology company reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.07. The company had revenue of $966.90 million during the quarter, compared to the consensus estimate of $950.75 million. Plexus had a return on equity of 10.77% and a net margin of 2.54%. Plexus’s quarterly revenue was down 9.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.45 earnings per share. On average, sell-side analysts forecast that Plexus will post 4.36 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Plexus news, CFO Patrick John Jermain sold 4,399 shares of the stock in a transaction on Monday, February 12th. The shares were sold at an average price of $99.86, for a total transaction of $439,284.14. Following the transaction, the chief financial officer now directly owns 45,504 shares of the company’s stock, valued at $4,544,029.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CFO Patrick John Jermain sold 4,399 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $99.86, for a total value of $439,284.14. Following the sale, the chief financial officer now directly owns 45,504 shares of the company’s stock, valued at $4,544,029.44. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Todd P. Kelsey sold 2,000 shares of the firm’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $94.00, for a total value of $188,000.00. Following the completion of the sale, the chief executive officer now directly owns 121,310 shares in the company, valued at $11,403,140. The disclosure for this sale can be found here. Insiders have sold 29,921 shares of company stock valued at $2,878,640 over the last three months. 2.39% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Plexus

Hedge funds have recently made changes to their positions in the stock. Parallel Advisors LLC lifted its stake in shares of Plexus by 72.3% in the fourth quarter. Parallel Advisors LLC now owns 348 shares of the technology company’s stock valued at $38,000 after buying an additional 146 shares during the period. GAMMA Investing LLC bought a new stake in shares of Plexus in the fourth quarter valued at about $44,000. Cetera Trust Company N.A bought a new position in Plexus during the fourth quarter worth about $54,000. McGlone Suttner Wealth Management Inc. bought a new position in Plexus during the fourth quarter worth about $66,000. Finally, Avior Wealth Management LLC bought a new position in Plexus during the third quarter worth about $91,000. Institutional investors own 94.45% of the company’s stock.

Plexus Company Profile

Plexus Corp. provides electronic manufacturing services in the United States and internationally. It offers design, develop, supply chain, new product introduction, and manufacturing solutions, as well as sustaining services to companies in the healthcare/life sciences, industrial/commercial, aerospace/defense, and communications market sectors.