Plexus (PLXS) Raised to “Buy” at Longbow Research
Plexus (NASDAQ:PLXS) was upgraded by analysts at Longbow Research from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Monday, MarketBeat reports.
A number of other equities analysts have also weighed in on the stock. ValuEngine raised shares of Plexus from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. BidaskClub lowered shares of Plexus from a “hold” rating to a “sell” rating in a research note on Saturday, December 16th. Zacks Investment Research lowered shares of Plexus from a “hold” rating to a “sell” rating in a research note on Monday, October 30th. Citigroup upped their target price on shares of Plexus from $59.00 to $65.00 and gave the stock a “neutral” rating in a research note on Friday, October 27th. Finally, JPMorgan Chase & Co. cut shares of Plexus from an “overweight” rating to a “neutral” rating and set a $62.00 price target on the stock. in a research report on Tuesday, October 10th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $57.86.
Shares of Plexus (NASDAQ PLXS) traded down $0.59 during midday trading on Monday, reaching $64.53. 199,400 shares of the company were exchanged, compared to its average volume of 130,117. The firm has a market cap of $2,150.00, a price-to-earnings ratio of 19.92 and a beta of 0.88. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.06 and a current ratio of 1.78. Plexus has a 12-month low of $49.06 and a 12-month high of $65.54.
In other Plexus news, CAO Angelo Michael Ninivaggi, Jr. sold 16,000 shares of the business’s stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $61.58, for a total transaction of $985,280.00. Following the sale, the chief accounting officer now directly owns 18,159 shares of the company’s stock, valued at approximately $1,118,231.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Dean A. Foate sold 1,000 shares of the company’s stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $60.38, for a total transaction of $60,380.00. Following the completion of the sale, the chairman now directly owns 288,920 shares in the company, valued at $17,444,989.60. The disclosure for this sale can be found here. Insiders have sold a total of 205,696 shares of company stock worth $12,706,971 over the last three months. Insiders own 3.70% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Mutual of America Capital Management LLC raised its holdings in shares of Plexus by 2.8% in the 3rd quarter. Mutual of America Capital Management LLC now owns 68,101 shares of the technology company’s stock valued at $3,819,000 after purchasing an additional 1,861 shares during the period. Disciplined Growth Investors Inc. MN raised its holdings in shares of Plexus by 0.5% in the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 3,038,867 shares of the technology company’s stock valued at $159,753,000 after purchasing an additional 16,329 shares during the period. Principal Financial Group Inc. raised its holdings in shares of Plexus by 3.8% in the 2nd quarter. Principal Financial Group Inc. now owns 282,731 shares of the technology company’s stock valued at $14,864,000 after purchasing an additional 10,388 shares during the period. Brandywine Global Investment Management LLC bought a new stake in shares of Plexus in the 2nd quarter valued at about $5,016,000. Finally, FMR LLC raised its holdings in shares of Plexus by 546.1% in the 2nd quarter. FMR LLC now owns 1,111,655 shares of the technology company’s stock valued at $58,440,000 after purchasing an additional 939,589 shares during the period. 93.45% of the stock is currently owned by institutional investors.
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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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