Needham & Company LLC Reiterates “$52.00” Price Target for Plexus Corp. (PLXS)
Several other analysts have also recently weighed in on the company. B. Riley reaffirmed a neutral rating and set a $50.00 price objective on shares of Plexus Corp. in a research report on Sunday, August 14th. Zacks Investment Research raised Plexus Corp. from a hold rating to a buy rating and set a $50.00 price target on the stock in a research report on Friday, July 22nd. Royal Bank Of Canada reissued a hold rating and issued a $46.00 price target on shares of Plexus Corp. in a research report on Friday, June 10th. Finally, Citigroup Inc. boosted their price target on Plexus Corp. from $45.00 to $50.00 and gave the stock a neutral rating in a research report on Thursday, June 9th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average price target of $48.17.
Plexus Corp. (NASDAQ:PLXS) opened at 46.04 on Friday. Plexus Corp. has a one year low of $28.72 and a one year high of $47.34. The company has a market capitalization of $1.54 billion, a price-to-earnings ratio of 19.42 and a beta of 1.23. The firm’s 50-day moving average price is $46.22 and its 200 day moving average price is $43.06.
Plexus Corp. (NASDAQ:PLXS) last posted its quarterly earnings data on Wednesday, July 20th. The company reported $0.82 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.77 by $0.05. The business had revenue of $667.60 million for the quarter, compared to analysts’ expectations of $655.37 million. Plexus Corp. had a return on equity of 9.95% and a net margin of 3.16%. The business’s revenue was down .3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.69 EPS. On average, equities research analysts expect that Plexus Corp. will post $2.64 earnings per share for the current fiscal year.
In other news, Chairman Dean A. Foate sold 47,943 shares of the company’s stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $46.22, for a total value of $2,215,925.46. Following the completion of the sale, the chairman now directly owns 204,850 shares in the company, valued at approximately $9,468,167. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Dean A. Foate sold 8,658 shares of the company’s stock in a transaction on Monday, July 25th. The stock was sold at an average price of $45.56, for a total value of $394,458.48. Following the completion of the sale, the chairman now owns 188,258 shares of the company’s stock, valued at $8,577,034.48. The disclosure for this sale can be found here. 5.30% of the stock is owned by insiders.
Large investors have recently bought and sold shares of the company. Kempen Capital Management N.V. raised its stake in Plexus Corp. by 64.6% in the first quarter. Kempen Capital Management N.V. now owns 3,509 shares of the company’s stock valued at $139,000 after buying an additional 1,377 shares during the period. PineBridge Investments L.P. raised its stake in Plexus Corp. by 3.7% in the second quarter. PineBridge Investments L.P. now owns 4,229 shares of the company’s stock valued at $183,000 after buying an additional 152 shares during the period. Teacher Retirement System of Texas raised its stake in Plexus Corp. by 13.7% in the second quarter. Teacher Retirement System of Texas now owns 4,678 shares of the company’s stock valued at $202,000 after buying an additional 563 shares during the period. ProShare Advisors LLC bought a new stake in Plexus Corp. during the second quarter valued at approximately $209,000. Finally, Bayesian Capital Management LP bought a new stake in Plexus Corp. during the first quarter valued at approximately $216,000. Hedge funds and other institutional investors own 92.97% of the company’s stock.
About Plexus Corp.
Plexus Corp. (Plexus) and its subsidiaries are engaged in the electronic manufacturing services (EMS) industry. Plexus delivers end-to-end solutions for customers in the Americas (AMER); Europe, Middle East and Africa (EMEA), and Asia-Pacific (APAC) regions. The Company’s segments are AMER, APAC and EMEA.
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