StockNews.com Downgrades Preformed Line Products (NASDAQ:PLPC) to Buy

Preformed Line Products (NASDAQ:PLPC) was downgraded by stock analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Friday.

Preformed Line Products Price Performance

Shares of PLPC stock opened at $128.08 on Friday. Preformed Line Products has a 52-week low of $104.96 and a 52-week high of $184.82. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.73 and a current ratio of 3.15. The firm has a market capitalization of $630.15 million, a P/E ratio of 12.39 and a beta of 0.70. The stock has a 50 day moving average price of $127.78 and a 200 day moving average price of $128.44.

Preformed Line Products (NASDAQ:PLPC) last issued its quarterly earnings results on Wednesday, May 1st. The technology company reported $1.94 earnings per share (EPS) for the quarter. Preformed Line Products had a return on equity of 12.67% and a net margin of 8.20%. The firm had revenue of $140.90 million during the quarter.

Institutional Investors Weigh In On Preformed Line Products

A number of institutional investors and hedge funds have recently bought and sold shares of PLPC. Invesco Ltd. raised its position in Preformed Line Products by 215.5% during the 3rd quarter. Invesco Ltd. now owns 68,311 shares of the technology company’s stock valued at $11,106,000 after purchasing an additional 46,656 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Preformed Line Products by 84.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 31,294 shares of the technology company’s stock valued at $5,088,000 after purchasing an additional 14,363 shares in the last quarter. CM Management LLC raised its position in Preformed Line Products by 48.6% during the 1st quarter. CM Management LLC now owns 26,000 shares of the technology company’s stock valued at $3,345,000 after purchasing an additional 8,500 shares in the last quarter. Janney Montgomery Scott LLC raised its position in Preformed Line Products by 90.9% during the 3rd quarter. Janney Montgomery Scott LLC now owns 13,310 shares of the technology company’s stock valued at $2,164,000 after purchasing an additional 6,336 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Preformed Line Products by 1.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 367,708 shares of the technology company’s stock valued at $49,222,000 after purchasing an additional 5,913 shares in the last quarter. 41.19% of the stock is owned by institutional investors.

About Preformed Line Products

Preformed Line Products Company, together with its subsidiaries, designs and manufactures products and systems that are used in the construction and maintenance of overhead, ground-mounted, and underground networks for the energy, telecommunication, cable, data communication, and other industries. The company offers optical ground wire products to support, protect, terminate, and splice transmission and distribution lines, as well as bolted, welded, and compressed connectors for substations; and string hardware products, polymer insulators, wildlife protection, substation fittings, and motion control devices.