Insider Buying: Plantronics, Inc. (NYSE:POLY) COO Buys 2,000 Shares of Stock

Plantronics, Inc. (NYSE:POLY) COO Warren Schlichting purchased 2,000 shares of Plantronics stock in a transaction dated Monday, September 13th. The stock was acquired at an average price of $28.94 per share, for a total transaction of $57,880.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

NYSE:POLY traded up $1.50 during midday trading on Wednesday, hitting $29.47. The stock had a trading volume of 19,582 shares, compared to its average volume of 506,885. Plantronics, Inc. has a one year low of $10.95 and a one year high of $50.89. The stock has a market capitalization of $1.25 billion, a P/E ratio of -59.39 and a beta of 1.84. The company’s 50-day simple moving average is $31.72.

Plantronics (NYSE:POLY) last announced its quarterly earnings data on Thursday, July 29th. The company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.40. Plantronics had a negative return on equity of 127.71% and a negative net margin of 1.06%. The company had revenue of $431.17 million for the quarter, compared to analysts’ expectations of $418.44 million. Analysts expect that Plantronics, Inc. will post 1.97 EPS for the current fiscal year.

POLY has been the topic of several recent analyst reports. Zacks Investment Research upgraded Plantronics from a “strong sell” rating to a “hold” rating and set a $34.00 price target on the stock in a report on Monday, July 19th. Morgan Stanley reduced their price target on Plantronics from $37.00 to $35.00 and set an “equal weight” rating on the stock in a report on Friday, July 30th.

Plantronics Company Profile

Plantronics, Inc engages in the design, manufacture, and distribution of headsets, voice, video, and content sharing solutions. It operates through the following segments: Products and Services. The Products segment includes the firm’s headsets, voice, and video product lines. The Services segment includes the maintenance support on hardware devices, as well as professional, managed, and cloud services and solutions.

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