Plexus Corp. (NASDAQ:PLXS) has been assigned a consensus recommendation of “Hold” from the ten research firms that are presently covering the stock, MarketBeat.com reports. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $62.00.
A number of equities research analysts recently weighed in on PLXS shares. JPMorgan Chase set a $70.00 price target on Plexus and gave the company a “hold” rating in a report on Friday, March 16th. ValuEngine raised Plexus from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. TheStreet cut Plexus from an “a-” rating to a “c+” rating in a research note on Wednesday, January 17th. BidaskClub cut Plexus from a “hold” rating to a “sell” rating in a research note on Saturday, December 16th. Finally, Longbow Research raised Plexus from a “neutral” rating to a “buy” rating in a research note on Monday, January 8th.
In related news, Director Peter Kelly purchased 5,000 shares of Plexus stock in a transaction dated Monday, January 22nd. The shares were acquired at an average cost of $60.10 per share, for a total transaction of $300,500.00. Following the transaction, the director now directly owns 21,896 shares of the company’s stock, valued at $1,315,949.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Ronnie Darroch sold 1,250 shares of the firm’s stock in a transaction on Friday, March 2nd. The stock was sold at an average price of $60.66, for a total value of $75,825.00. The disclosure for this sale can be found here. Insiders sold a total of 28,554 shares of company stock valued at $1,726,564 over the last three months. Insiders own 3.70% of the company’s stock.
Large investors have recently bought and sold shares of the company. Cambridge Investment Research Advisors Inc. bought a new position in shares of Plexus in the 4th quarter worth $201,000. Xact Kapitalforvaltning AB bought a new position in shares of Plexus in the 4th quarter worth $215,000. Verition Fund Management LLC bought a new position in shares of Plexus in the 4th quarter worth $232,000. Sawgrass Asset Management LLC boosted its position in shares of Plexus by 44.2% in the 4th quarter. Sawgrass Asset Management LLC now owns 6,200 shares of the technology company’s stock worth $376,000 after purchasing an additional 1,900 shares during the last quarter. Finally, Parametrica Management Ltd bought a new position in shares of Plexus in the 4th quarter worth $420,000. Institutional investors and hedge funds own 97.01% of the company’s stock.
PLXS stock traded up $1.07 during midday trading on Wednesday, reaching $61.91. 105,924 shares of the company’s stock traded hands, compared to its average volume of 179,858. Plexus has a 1-year low of $49.06 and a 1-year high of $66.78. The stock has a market capitalization of $2,049.66, a price-to-earnings ratio of 19.11 and a beta of 0.85. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.90 and a quick ratio of 1.08.
Plexus (NASDAQ:PLXS) last released 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). Plexus had a negative net margin of 0.57% and a positive return on equity of 11.24%. The business had revenue of $677.00 million for the quarter, compared to analyst estimates of $685.07 million. During the same period in the prior year, the business earned $0.82 earnings per share. The company’s revenue for the quarter was up 6.6% on a year-over-year basis. equities analysts expect that Plexus will post 3.27 earnings per share for the current fiscal year.
Plexus announced that its board has approved a stock buyback plan on Tuesday, February 20th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the technology company to purchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its shares are undervalued.
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Plexus Company Profile
Plexus Corp., together with its subsidiaries, provides electronic manufacturing services in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. It offers product conceptualization solutions; and product design and value-engineering solutions, including program management, feasibility studies, specification development for product features and functionality, circuit design, field programmable gate array design, printed circuit board layout, embedded software design, mechanical design, test specifications development and product verification testing, and automated production solutions and complex automation design.
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