Wall Street Zen Upgrades Preformed Line Products (NASDAQ:PLPC) to “Buy”

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

PLPC has been the subject of a number of other reports. Freedom Capital downgraded Preformed Line Products from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 1st. Weiss Ratings downgraded Preformed Line Products from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, April 29th. Finally, Loop Capital set a $275.00 target price on Preformed Line Products in a research report on Monday, March 9th. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Preformed Line Products currently has an average rating of “Hold” and an average target price of $275.00.

Preformed Line Products Stock Performance

NASDAQ:PLPC opened at $363.02 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.01 and a quick ratio of 1.78. The business has a fifty day simple moving average of $333.86 and a two-hundred day simple moving average of $272.03. Preformed Line Products has a 1 year low of $139.04 and a 1 year high of $397.34. The company has a market capitalization of $1.78 billion, a P/E ratio of 52.23 and a beta of 0.90.

Preformed Line Products (NASDAQ:PLPC) last released its earnings results on Wednesday, April 29th. The technology company reported $2.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.82 by $0.32. Preformed Line Products had a return on equity of 8.96% and a net margin of 4.92%.The business had revenue of $176.28 million during the quarter, compared to the consensus estimate of $178.00 million.

Institutional Investors Weigh In On Preformed Line Products

Large investors have recently added to or reduced their stakes in the business. Montag A & Associates Inc. bought a new stake in Preformed Line Products during the third quarter valued at $29,000. Huntington National Bank boosted its stake in Preformed Line Products by 181.7% during the third quarter. Huntington National Bank now owns 200 shares of the technology company’s stock valued at $39,000 after buying an additional 129 shares during the period. Russell Investments Group Ltd. boosted its stake in Preformed Line Products by 2,562.5% during the third quarter. Russell Investments Group Ltd. now owns 213 shares of the technology company’s stock valued at $42,000 after buying an additional 205 shares during the period. Tower Research Capital LLC TRC boosted its stake in Preformed Line Products by 199.0% during the second quarter. Tower Research Capital LLC TRC now owns 299 shares of the technology company’s stock valued at $48,000 after buying an additional 199 shares during the period. Finally, Royal Bank of Canada boosted its stake in Preformed Line Products by 132.4% during the fourth quarter. Royal Bank of Canada now owns 251 shares of the technology company’s stock valued at $52,000 after buying an additional 143 shares during the period. Institutional investors own 41.19% of the company’s stock.

About Preformed Line Products

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.