Preformed Line Products (NASDAQ:PLPC) Stock Rating Lowered by Wall Street Zen

Preformed Line Products (NASDAQ:PLPC) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Saturday.

Separately, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Preformed Line Products in a report on Monday, December 29th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy”.

Preformed Line Products Price Performance

Preformed Line Products stock opened at $235.72 on Friday. The company has a market cap of $1.16 billion, a price-to-earnings ratio of 33.01 and a beta of 0.76. The firm’s fifty day moving average is $249.17 and its 200 day moving average is $221.64. The company has a quick ratio of 1.84, a current ratio of 3.09 and a debt-to-equity ratio of 0.07. Preformed Line Products has a 52-week low of $118.99 and a 52-week high of $287.96.

Preformed Line Products (NASDAQ:PLPC) last issued its quarterly earnings data on Wednesday, March 4th. The technology company reported $1.72 EPS for the quarter, topping analysts’ consensus estimates of $1.64 by $0.08. Preformed Line Products had a net margin of 5.27% and a return on equity of 9.47%. The business had revenue of $173.11 million during the quarter, compared to analysts’ expectations of $177.00 million.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Montag A & Associates Inc. purchased a new stake in shares of Preformed Line Products in the third quarter worth approximately $29,000. Huntington National Bank grew its position in Preformed Line Products by 181.7% in the 3rd quarter. Huntington National Bank now owns 200 shares of the technology company’s stock valued at $39,000 after acquiring an additional 129 shares during the last quarter. Russell Investments Group Ltd. increased its stake in Preformed Line Products by 2,562.5% in the third quarter. Russell Investments Group Ltd. now owns 213 shares of the technology company’s stock worth $42,000 after purchasing an additional 205 shares during the period. Tower Research Capital LLC TRC increased its stake in Preformed Line Products by 199.0% in the second quarter. Tower Research Capital LLC TRC now owns 299 shares of the technology company’s stock worth $48,000 after purchasing an additional 199 shares during the period. Finally, State of Alaska Department of Revenue bought a new stake in shares of Preformed Line Products during the third quarter worth $51,000. Hedge funds and other institutional investors own 41.19% of the company’s stock.

Preformed Line Products Company Profile

Preformed Line Products Company (NASDAQ: PLPC) is a global manufacturer of engineered solutions for electric, telecommunications and industrial infrastructure networks. The company designs, engineers and produces a broad portfolio of products, including preformed wire and cable fittings, anchors, suspension and tension clamps, splice closures and optical fiber hardware. These durable components support the installation, repair and maintenance of overhead and underground systems, helping utilities and contractors manage reliability and safety in demanding environments.

Founded in 1947 and headquartered in Mayfield Village, Ohio, Preformed Line Products operates manufacturing facilities and distribution centers across North America, Europe and the Asia Pacific region.