Preformed Line Products (PLPC) Lowered to “Sell” at BidaskClub

BidaskClub cut shares of Preformed Line Products (NASDAQ:PLPC) from a hold rating to a sell rating in a research report released on Tuesday.

Separately, ValuEngine cut Preformed Line Products from a buy rating to a hold rating in a report on Thursday, November 1st.

Shares of PLPC opened at $60.13 on Tuesday. The stock has a market cap of $320.42 million, a P/E ratio of 14.80 and a beta of 1.21. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.90 and a current ratio of 3.07. Preformed Line Products has a 52-week low of $55.41 and a 52-week high of $96.83.

Preformed Line Products (NASDAQ:PLPC) last issued its quarterly earnings data on Thursday, November 8th. The technology company reported $1.76 earnings per share (EPS) for the quarter. Preformed Line Products had a return on equity of 9.07% and a net margin of 5.34%. The business had revenue of $108.41 million for the quarter.

Large investors have recently added to or reduced their stakes in the business. UBS Group AG raised its holdings in shares of Preformed Line Products by 169.2% in the 1st quarter. UBS Group AG now owns 1,987 shares of the technology company’s stock valued at $130,000 after acquiring an additional 1,249 shares in the last quarter. MetLife Investment Advisors LLC purchased a new stake in shares of Preformed Line Products in the 2nd quarter valued at about $136,000. Marshall Wace LLP purchased a new stake in shares of Preformed Line Products in the 3rd quarter valued at about $229,000. First Trust Advisors LP purchased a new stake in shares of Preformed Line Products in the 3rd quarter valued at about $290,000. Finally, Strs Ohio raised its holdings in shares of Preformed Line Products by 44.0% in the 2nd quarter. Strs Ohio now owns 3,600 shares of the technology company’s stock valued at $319,000 after acquiring an additional 1,100 shares in the last quarter. 44.47% of the stock is currently owned by hedge funds and other institutional investors.

Preformed Line Products Company Profile

Preformed Line Products Company, together with its subsidiaries, designs and manufactures products and systems used in the construction and maintenance of overhead and underground networks for the energy, telecommunication, cable operator, information, and other industries. The company offers formed wire and related hardware products to support, protect, terminate, and secure power conductor and communication cables, as well as to control cable dynamics; and hardware products to support and protect transmission conductors, spacers, spacer-dampers, stockbridge dampers, corona suppression devices, and various compression fittings for dead-end applications.

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