Plexus (NASDAQ:PLXS) Downgraded by Wall Street Zen to “Hold”

Wall Street Zen downgraded shares of Plexus (NASDAQ:PLXS) from a buy rating to a hold rating in a report published on Saturday,Wall Street Zen reports.

Several other equities research analysts also recently issued reports on PLXS. KeyCorp upgraded shares of Plexus from a “sector weight” rating to an “overweight” rating and set a $300.00 price objective on the stock in a research note on Monday, September 21st. Weiss Ratings cut shares of Plexus from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, September 9th. Needham & Company LLC reissued a “buy” rating and issued a $310.00 price target on shares of Plexus in a report on Friday, August 14th. Sidoti upgraded shares of Plexus from a “neutral” rating to a “buy” rating and set a $308.00 price target on the stock in a research report on Friday, July 31st. Finally, Zacks Research upgraded shares of Plexus from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $276.86.

Plexus Price Performance

NASDAQ PLXS opened at $263.09 on Friday. Plexus has a twelve month low of $132.03 and a twelve month high of $307.06. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.72 and a current ratio of 1.49. The stock has a market capitalization of $7.04 billion, a PE ratio of 38.80 and a beta of 0.89. The stock has a 50-day simple moving average of $253.01 and a 200 day simple moving average of $250.95.

Plexus (NASDAQ:PLXS) last announced its earnings results on Wednesday, July 29th. The technology company reported $2.32 earnings per share for the quarter, beating the consensus estimate of $2.13 by $0.19. The firm had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.23 billion. Plexus had a return on equity of 12.46% and a net margin of 4.03%.The firm’s revenue for the quarter was up 28.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.64 EPS. Plexus has set its Q4 2026 guidance at 2.470-2.630 EPS. Research analysts anticipate that Plexus will post 7.13 EPS for the current year.

Insider Activity

In related news, CEO Todd P. Kelsey sold 1,500 shares of the firm’s stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of $242.41, for a total value of $363,615.00. Following the completion of the transaction, the chief executive officer directly owned 64,388 shares of the company’s stock, valued at $15,608,295.08. This trade represents a 2.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Karen Rapp sold 500 shares of Plexus stock in a transaction 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 sale, the director owned 7,535 shares in the company, valued at $1,814,955.45. This represents a 6.22% decrease in their position. 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. Over the last ninety days, insiders have sold 7,500 shares of company stock worth $1,960,520. Company insiders own 1.78% of the company’s stock.

Hedge Funds Weigh In On Plexus

A number of hedge funds and other institutional investors have recently made changes to their positions in PLXS. BlackRock Inc. acquired a new stake in shares of Plexus during the 2nd quarter valued at about $1,311,631,000. Bank of America Corp DE acquired a new position in Plexus in the second quarter worth about $60,281,000. Bank of New York Mellon Corp bought a new position in Plexus during the second quarter worth about $55,525,000. Emerald Advisers LLC bought a new position in Plexus during the first quarter worth about $33,729,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Plexus during the second quarter valued at approximately $35,755,000. 94.45% of the stock is owned by institutional investors.

Plexus News Summary

Here are the key news stories impacting Plexus this week:

• Positive Sentiment: KeyCorp reiterated an Overweight rating and a $300 price target, implying additional upside from recent levels. The firm forecasts Plexus will earn $7.18 per share in fiscal 2026 and $8.74 per share in fiscal 2027, with quarterly EPS estimates rising from $2.01 in Q1 2027 to $2.35 in Q4 2027. Those projections point to continued earnings growth.
• Positive Sentiment: The latest quarterly results provide support for the bullish outlook: Plexus previously exceeded EPS and revenue expectations, reporting $2.32 in EPS on $1.30 billion of revenue, with revenue up 28.2% year over year.
• Neutral Sentiment: A report stated that Plexus was the subject of a significant increase in short interest, but also listed total short interest at zero shares and a days-to-cover ratio of 0.0. The data appears internally inconsistent, so it offers little reliable insight into current trading sentiment.
• Negative Sentiment: A Seeking Alpha analysis argues that Plexus’s growth must be accompanied by stronger cash generation. The article’s focus on cash conversion signals a potential concern for investors even as revenue and earnings expand, particularly because the stock trades at a relatively elevated valuation of about 39 times earnings. Plexus: Growth Has Arrived, But The Cash Must Follow

About Plexus

Plexus Corp. is a global electronics manufacturing services company that designs, manufactures and services products for original equipment manufacturers. The company supports customers across the product life cycle, from product development and engineering to supply chain management, assembly, testing, fulfillment and aftermarket services.

Plexus provides solutions for industries including healthcare and life sciences, industrial and commercial, aerospace and defense, and communications.