Plexus Corp. (NASDAQ:PLXS) Stock Has Consensus Price Target of $276.86 According to Brokerages

Shares of Plexus Corp. (NASDAQ:PLXS) have earned a consensus rating of “Buy” from the nine ratings firms that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation, seven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $276.86.

Several equities analysts have commented on PLXS shares. Raymond James Financial reiterated an “outperform” rating on shares of Plexus in a research report on Friday. Sidoti upgraded Plexus from a “neutral” rating to a “buy” rating and set a $308.00 price target for the company in a research report on Friday, July 31st. Weiss Ratings cut Plexus from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, October 23rd. Zacks Research upgraded Plexus from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 11th. Finally, KeyCorp upgraded Plexus from a “sector weight” rating to an “overweight” rating and set a $300.00 target price for the company in a report on Monday, September 21st.

Plexus Price Performance

Shares of PLXS traded down $2.29 during midday trading on Thursday, hitting $208.46. 182,687 shares of the company traded hands, compared to its average volume of 358,413. The firm has a 50 day moving average of $239.67 and a 200-day moving average of $240.86. Plexus has a 52 week low of $132.03 and a 52 week high of $307.06. The stock has a market cap of $5.58 billion, a price-to-earnings ratio of 28.09 and a beta of 0.97. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.67 and a current ratio of 1.43.

Plexus (NASDAQ:PLXS) last released its quarterly earnings data on Wednesday, October 28th. The technology company reported $2.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.55 by $0.29. The business had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.36 billion. Plexus had a return on equity of 13.34% and a net margin of 4.08%. The company’s revenue was up 34.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.14 EPS. On average, analysts forecast that Plexus will post 9.02 EPS for the current fiscal year.

Insider Buying and Selling at Plexus

In other news, Director Karen Rapp sold 500 shares of the company’s stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $240.87, for a total transaction of $120,435.00. Following the transaction, the director owned 7,535 shares of the company’s stock, valued at approximately $1,814,955.45. This represents a 6.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Todd P. Kelsey sold 1,500 shares of the stock in a transaction that occurred on Wednesday, October 21st. The stock was sold at an average price of $239.16, for a total value of $358,740.00. Following the completion of the sale, the chief executive officer owned 62,888 shares in the company, valued at approximately $15,040,294.08. The trade was a 2.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 5,000 shares of company stock worth $1,219,260. Insiders own 1.78% of the company’s stock.

Institutional Investors Weigh In On Plexus

Several large investors have recently added to or reduced their stakes in PLXS. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Plexus during the 2nd quarter worth $32,000. Root Financial Partners LLC purchased a new stake in shares of Plexus in the 3rd quarter worth $32,000. Kilter Group LLC purchased a new position in shares of Plexus during the second quarter valued at $40,000. Integrated Wealth Concepts LLC purchased a new position in shares of Plexus during the second quarter valued at $51,000. Finally, Pension & Wealth Management Advisors Inc. bought a new stake in shares of Plexus in the third quarter valued at about $45,000. 94.45% of the stock is owned by hedge funds and other institutional investors.

Plexus Company Profile

Plexus Corp. is a provider of electronics manufacturing services and product realization solutions for companies that develop complex products. Its services span product design and development, engineering, manufacturing, supply chain management, fulfillment, and aftermarket support. The company serves customers in markets including healthcare and life sciences, industrial, and aerospace and defense. Its work supports products that may require specialized engineering, quality controls, and production processes.