Plexus Corp. (PLXS) Stock Rating Reaffirmed by Stifel Nicolaus
Stifel Nicolaus reaffirmed their hold rating on shares of Plexus Corp. (NASDAQ:PLXS) in a report released on Friday morning. The brokerage currently has a $54.00 target price on the technology company’s stock, up from their previous target price of $50.00.
Several other brokerages have also recently weighed in on PLXS. J P Morgan Chase & Co began coverage on shares of Plexus Corp. in a research note on Tuesday, April 4th. They issued a neutral rating and a $65.00 price objective on the stock. ValuEngine cut shares of Plexus Corp. from a buy rating to a hold rating in a research note on Friday, July 14th. BidaskClub cut shares of Plexus Corp. from a buy rating to a hold rating in a research note on Thursday, June 15th. Zacks Investment Research cut shares of Plexus Corp. from a hold rating to a sell rating in a research note on Monday, April 24th. Finally, Royal Bank Of Canada restated a sector perform rating and issued a $57.00 target price on shares of Plexus Corp. in a report on Saturday, April 22nd. One analyst has rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average price target of $58.25.
Plexus Corp. (NASDAQ:PLXS) opened at 54.78 on Friday. Plexus Corp. has a 12-month low of $43.56 and a 12-month high of $58.74. The firm has a market cap of $1.84 billion, a P/E ratio of 18.49 and a beta of 0.93. The firm’s 50-day moving average price is $52.75 and its 200 day moving average price is $54.20.
Plexus Corp. (NASDAQ:PLXS) last posted its earnings results on Wednesday, July 19th. The technology company reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.02. The firm had revenue of $618.80 million for the quarter, compared to analysts’ expectations of $608.95 million. Plexus Corp. had a net margin of 4.07% and a return on equity of 10.76%. The company’s revenue was down 7.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.82 earnings per share. Analysts forecast that Plexus Corp. will post $3.22 earnings per share for the current fiscal year.
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In other news, CEO Todd P. Kelsey sold 2,000 shares of the company’s stock in a transaction dated Wednesday, April 26th. The shares were sold at an average price of $53.49, for a total transaction of $106,980.00. Following the transaction, the chief executive officer now owns 57,175 shares in the company, valued at $3,058,290.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Oliver K. Mihm sold 1,300 shares of the company’s stock in a transaction dated Wednesday, July 19th. The shares were sold at an average price of $53.80, for a total transaction of $69,940.00. Following the transaction, the insider now owns 6,223 shares in the company, valued at approximately $334,797.40. The disclosure for this sale can be found here. Insiders have sold 16,449 shares of company stock worth $872,778 in the last quarter. Company insiders own 4.30% of the company’s stock.
Several institutional investors have recently made changes to their positions in the stock. BlackRock Inc. raised its position in shares of Plexus Corp. by 50,519.1% in the first quarter. BlackRock Inc. now owns 4,267,193 shares of the technology company’s stock valued at $246,644,000 after buying an additional 4,258,763 shares in the last quarter. Vaughan Nelson Investment Management L.P. bought a new position in shares of Plexus Corp. during the second quarter valued at $22,236,000. Norges Bank bought a new position in shares of Plexus Corp. during the fourth quarter valued at $22,421,000. Vanguard Group Inc. raised its position in shares of Plexus Corp. by 6.8% in the first quarter. Vanguard Group Inc. now owns 3,256,888 shares of the technology company’s stock valued at $188,249,000 after buying an additional 207,360 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Plexus Corp. by 40.4% in the first quarter. Bank of New York Mellon Corp now owns 594,199 shares of the technology company’s stock valued at $34,344,000 after buying an additional 170,844 shares in the last quarter. Hedge funds and other institutional investors own 94.92% of the company’s stock.
About Plexus Corp.
Plexus Corp. (Plexus) and its subsidiaries are engaged in the electronic manufacturing services (EMS) industry. The Company 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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