ValuEngine upgraded shares of Plantronics (NYSE:PLT) from a hold rating to a buy rating in a research note released on Wednesday.
A number of other brokerages have also recently commented on PLT. Sidoti raised Plantronics from a neutral rating to a buy rating in a research note on Thursday, March 29th. Roth Capital upped their price target on Plantronics from $55.00 to $60.00 and gave the company a buy rating in a research note on Wednesday, January 31st. Finally, TheStreet cut Plantronics from a b rating to a c rating in a research note on Friday, February 2nd. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. Plantronics currently has an average rating of Hold and an average price target of $60.00.
Shares of PLT stock opened at $73.75 on Wednesday. The company has a debt-to-equity ratio of 1.40, a current ratio of 7.17 and a quick ratio of 6.62. The stock has a market capitalization of $3.58 billion, a PE ratio of 27.21 and a beta of 1.23. Plantronics has a one year low of $41.28 and a one year high of $73.92.
Plantronics (NYSE:PLT) last announced its quarterly earnings results on Tuesday, May 1st. The technology company reported $1.05 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.25. The company had revenue of $216.10 million during the quarter, compared to analysts’ expectations of $208.49 million. Plantronics had a positive return on equity of 24.88% and a negative net margin of 0.10%. Plantronics’s revenue was up 3.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.81 EPS. sell-side analysts expect that Plantronics will post 2.63 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 8th. Investors of record on Friday, May 18th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Thursday, May 17th. This represents a $0.60 dividend on an annualized basis and a yield of 0.81%. Plantronics’s payout ratio is 22.14%.
In related news, Director Marshall Mohr sold 3,000 shares of the stock in a transaction that occurred on Tuesday, May 8th. The stock was sold at an average price of $66.53, for a total transaction of $199,590.00. Following the completion of the sale, the director now directly owns 24,039 shares of the company’s stock, valued at approximately $1,599,314.67. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Pamela J. Strayer sold 3,903 shares of the stock in a transaction that occurred on Monday, May 7th. The stock was sold at an average price of $66.29, for a total value of $258,729.87. Following the sale, the insider now directly owns 47,300 shares of the company’s stock, valued at $3,135,517. The disclosure for this sale can be found here. Over the last three months, insiders have sold 9,616 shares of company stock valued at $623,927. 3.20% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Isthmus Partners LLC increased its stake in Plantronics by 5.5% during the 1st quarter. Isthmus Partners LLC now owns 15,065 shares of the technology company’s stock worth $909,000 after purchasing an additional 792 shares in the last quarter. Hanson & Doremus Investment Management increased its stake in Plantronics by 8.9% during the 1st quarter. Hanson & Doremus Investment Management now owns 13,731 shares of the technology company’s stock worth $829,000 after purchasing an additional 1,120 shares in the last quarter. Swiss National Bank increased its stake in Plantronics by 2.9% during the 4th quarter. Swiss National Bank now owns 56,400 shares of the technology company’s stock worth $2,841,000 after purchasing an additional 1,600 shares in the last quarter. California Public Employees Retirement System increased its stake in Plantronics by 1.4% during the 1st quarter. California Public Employees Retirement System now owns 128,600 shares of the technology company’s stock worth $7,764,000 after purchasing an additional 1,743 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its stake in shares of Plantronics by 69.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,659 shares of the technology company’s stock worth $235,000 after acquiring an additional 1,904 shares in the last quarter. 92.39% of the stock is owned by institutional investors and hedge funds.
Plantronics Company Profile
Plantronics, Inc designs, manufactures, and markets lightweight communications headsets, telephone headset systems, other communication endpoints, and accessories for the business and consumer markets under the Plantronics brand worldwide. The company also manufactures and markets specialty telephone products under the Clarity brand.
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