JPMorgan Chase & Co. set a $70.00 target price on Plexus (NASDAQ:PLXS) in a report published on Friday. The brokerage currently has a hold rating on the technology company’s stock.
A number of other research analysts have also weighed in on the stock. BidaskClub raised shares of Plexus from a sell rating to a hold rating in a research note on Wednesday, March 7th. ValuEngine raised shares of Plexus from a hold rating to a buy rating in a research note on Thursday, March 1st. TheStreet lowered shares of Plexus from an a- rating to a c+ rating in a research note on Wednesday, January 17th. Finally, Longbow Research raised shares of Plexus from a neutral rating to a buy rating in a research note on Monday, January 8th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of Hold and an average price target of $60.00.
Plexus stock opened at $65.81 on Friday. The firm has a market cap of $2,217.07, a PE ratio of -129.04 and a beta of 0.83. Plexus has a 12 month low of $49.06 and a 12 month high of $66.78. The company has a quick ratio of 1.08, a current ratio of 1.90 and a debt-to-equity ratio of 0.03.
Plexus (NASDAQ:PLXS) last issued its quarterly earnings results on Wednesday, January 17th. The technology company reported $0.75 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.80 by ($0.05). The company had revenue of $677.00 million during the quarter, compared to analysts’ expectations of $685.07 million. Plexus had a negative net margin of 0.57% and a positive return on equity of 11.24%. The company’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.82 earnings per share. equities analysts anticipate that Plexus will post 3.25 earnings per share for the current fiscal year.
Plexus announced that its board has approved a share buyback plan on Tuesday, February 20th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the technology company to buy shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.
In other Plexus news, Director Stephen P. Cortinovis sold 6,250 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $61.30, for a total value of $383,125.00. Following the completion of the sale, the director now owns 31,322 shares in the company, valued at approximately $1,920,038.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Todd P. Kelsey sold 6,500 shares of the stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $60.90, for a total transaction of $395,850.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 28,554 shares of company stock valued at $1,726,564. 3.70% of the stock is owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in PLXS. Crossmark Global Holdings Inc. acquired a new stake in Plexus in the 3rd quarter valued at about $473,000. American Century Companies Inc. increased its holdings in shares of Plexus by 2.9% during the 3rd quarter. American Century Companies Inc. now owns 158,213 shares of the technology company’s stock worth $8,873,000 after buying an additional 4,497 shares during the last quarter. BNP Paribas Arbitrage SA increased its holdings in shares of Plexus by 53.6% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 18,246 shares of the technology company’s stock worth $1,023,000 after buying an additional 6,368 shares during the last quarter. Municipal Employees Retirement System of Michigan increased its holdings in shares of Plexus by 37.2% during the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 17,350 shares of the technology company’s stock worth $973,000 after buying an additional 4,700 shares during the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. increased its holdings in shares of Plexus by 7.7% during the 3rd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 67,085 shares of the technology company’s stock worth $3,762,000 after buying an additional 4,820 shares during the last quarter. Institutional investors own 97.01% of the company’s stock.
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Plexus Company Profile
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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