Plantronics Inc (NYSE:PLT) has been assigned an average recommendation of “Hold” from the seven research firms that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation and two have given a buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $60.00.
PLT has been the subject of a number of research reports. TheStreet upgraded shares of Plantronics from a “c+” rating to a “b” rating in a research report on Friday, November 24th. Roth Capital boosted their target price on shares of Plantronics from $55.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday, January 31st. Northland Securities set a $60.00 target price on shares of Plantronics and gave the company a “buy” rating in a research report on Friday, January 12th. Finally, Sidoti upgraded shares of Plantronics from a “neutral” rating to a “buy” rating and set a $60.00 target price for the company in a research report on Tuesday, January 2nd.
In other Plantronics news, CEO Joseph B. Burton sold 5,117 shares of the company’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $57.51, for a total value of $294,278.67. Following the completion of the transaction, the chief executive officer now owns 89,685 shares in the company, valued at $5,157,784.35. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director John Hart sold 21,083 shares of the company’s stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $52.56, for a total transaction of $1,108,122.48. Following the completion of the transaction, the director now owns 11,094 shares of the company’s stock, valued at approximately $583,100.64. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,851 shares of company stock valued at $1,615,252. Insiders own 3.20% of the company’s stock.
Several institutional investors have recently modified their holdings of PLT. Koch Industries Inc. raised its position in shares of Plantronics by 6,554.8% in the second quarter. Koch Industries Inc. now owns 248,691 shares of the technology company’s stock worth $244,000 after acquiring an additional 244,954 shares during the period. Shell Asset Management Co. acquired a new position in shares of Plantronics in the fourth quarter worth about $7,920,000. Chicago Equity Partners LLC acquired a new position in shares of Plantronics in the fourth quarter worth about $5,280,000. Citadel Advisors LLC raised its position in shares of Plantronics by 173.5% in the third quarter. Citadel Advisors LLC now owns 161,787 shares of the technology company’s stock worth $7,154,000 after acquiring an additional 102,631 shares during the period. Finally, Thrivent Financial For Lutherans raised its position in shares of Plantronics by 1,266.7% in the fourth quarter. Thrivent Financial For Lutherans now owns 97,854 shares of the technology company’s stock worth $4,930,000 after acquiring an additional 90,694 shares during the period. Institutional investors and hedge funds own 90.98% of the company’s stock.
Plantronics (PLT) traded down $0.76 during midday trading on Wednesday, reaching $56.23. 178,158 shares of the company were exchanged, compared to its average volume of 190,293. The firm has a market capitalization of $1,889.94, a P/E ratio of 267.77, a PEG ratio of 1.51 and a beta of 1.37. Plantronics has a 52 week low of $41.28 and a 52 week high of $60.49. The company has a quick ratio of 6.16, a current ratio of 6.76 and a debt-to-equity ratio of 1.50.
Plantronics (NYSE:PLT) last posted its earnings results on Tuesday, January 30th. The technology company reported $1.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.23. The company had revenue of $226.50 million during the quarter, compared to the consensus estimate of $220.17 million. Plantronics had a net margin of 1.03% and a return on equity of 22.22%. The firm’s quarterly revenue was down 2.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.79 earnings per share. equities analysts predict that Plantronics will post 2.52 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 9th. Shareholders of record on Tuesday, February 20th will be given a $0.15 dividend. The ex-dividend date is Friday, February 16th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.07%. Plantronics’s dividend payout ratio (DPR) is currently 285.73%.
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Plantronics Company Profile
Plantronics, Inc (Plantronics) is engaged in the design, manufacture, and distribution of headsets for business and consumer applications, and other specialty products for the hearing impaired. The Company is a global designer, manufacturer and marketer of communications headsets, telephone headset systems, other communication endpoints and accessories for the business and consumer markets.
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