Plexus (NASDAQ:PLXS) posted its quarterly earnings results on Tuesday. The technology company reported $1.23 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.09 by $0.14, MarketWatch Earnings reports. The firm had revenue of $830.36 million for the quarter, compared to the consensus estimate of $832.12 million. Plexus had a net margin of 3.47% and a return on equity of 13.10%. The company’s revenue for the quarter was down 2.6% on a year-over-year basis. During the same period last year, the firm posted $1.00 earnings per share.
Plexus stock traded down $3.02 during midday trading on Thursday, hitting $81.25. 1,170 shares of the stock were exchanged, compared to its average volume of 136,246. Plexus has a fifty-two week low of $35.16 and a fifty-two week high of $86.87. The stock has a market capitalization of $2.34 billion, a price-to-earnings ratio of 21.50 and a beta of 1.18. The stock’s 50-day simple moving average is $80.17 and its 200 day simple moving average is $75.03. The company has a current ratio of 1.77, a quick ratio of 1.01 and a debt-to-equity ratio of 0.19.
Several equities analysts have recently weighed in on the stock. Zacks Investment Research downgraded shares of Plexus from a “buy” rating to a “hold” rating and set a $73.00 price target on the stock. in a research note on Tuesday, November 3rd. Sidoti cut shares of Plexus from a “buy” rating to a “neutral” rating and set a $89.00 price objective for the company. in a research report on Tuesday. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Plexus presently has a consensus rating of “Hold” and a consensus target price of $82.17.
In other Plexus news, insider Yong Jin Lim sold 24,000 shares of Plexus stock in a transaction dated Wednesday, November 11th. The shares were sold at an average price of $74.69, for a total transaction of $1,792,560.00. Following the completion of the sale, the insider now directly owns 56,654 shares in the company, valued at $4,231,487.26. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Todd P. Kelsey sold 4,000 shares of Plexus stock in a transaction dated Monday, November 9th. The shares were sold at an average price of $75.93, for a total transaction of $303,720.00. Following the sale, the chief executive officer now owns 132,035 shares of the company’s stock, valued at $10,025,417.55. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 71,627 shares of company stock valued at $5,553,675. 2.38% of the stock is owned by company insiders.
Plexus Corp., together with its subsidiaries, provides electronic manufacturing services in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. It offers design and development, supply chain, new product introduction, and manufacturing solutions, as well as aftermarket services to companies in the healthcare/life sciences, industrial/commercial, aerospace/defense, and communications market sectors.
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