Stifel Nicolaus reiterated their hold rating on shares of Plexus Corp. (NASDAQ:PLXS) in a research note released on Friday, July 21st. The brokerage currently has a $54.00 price objective on the technology company’s stock, up from their previous price objective of $50.00.
A number of other analysts have also issued reports on the stock. ValuEngine lowered shares of Plexus Corp. from a buy rating to a hold rating in a research report on Friday, July 14th. Zacks Investment Research raised shares of Plexus Corp. from a sell rating to a hold rating in a research report on Wednesday, June 21st. BidaskClub lowered shares of Plexus Corp. from a buy rating to a hold rating in a research report on Thursday, June 15th. Royal Bank Of Canada reissued a sector perform rating and issued a $57.00 price target on shares of Plexus Corp. in a research report on Saturday, April 22nd. Finally, J P Morgan Chase & Co assumed coverage on shares of Plexus Corp. in a research report on Tuesday, April 4th. They issued a neutral rating and a $65.00 price target for the company. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the stock. The stock has a consensus rating of Hold and a consensus price target of $58.25.
Plexus Corp. (PLXS) opened at 52.34 on Friday. The company’s 50 day moving average is $52.94 and its 200-day moving average is $54.17. Plexus Corp. has a 52-week low of $44.35 and a 52-week high of $58.74. The stock has a market cap of $1.76 billion, a PE ratio of 17.67 and a beta of 0.93.
Plexus Corp. (NASDAQ:PLXS) last posted its quarterly earnings data on Wednesday, July 19th. The technology company reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.02. The company had revenue of $618.80 million during the quarter, compared to analyst estimates of $608.95 million. Plexus Corp. had a net margin of 4.07% and a return on equity of 10.76%. The business’s quarterly revenue was down 7.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.82 earnings per share. On average, equities analysts anticipate that Plexus Corp. will post $3.22 earnings per share for the current year.
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In other Plexus Corp. news, CEO Todd P. Kelsey sold 2,000 shares of the stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $54.94, for a total transaction of $109,880.00. Following the transaction, the chief executive officer now owns 57,175 shares in the company, valued at $3,141,194.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Todd P. Kelsey sold 11,250 shares of the stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $55.09, for a total value of $619,762.50. Following the transaction, the chief executive officer now owns 57,175 shares in the company, valued at approximately $3,149,770.75. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 80,106 shares of company stock worth $4,373,206. Insiders own 4.30% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the stock. American Century Companies Inc. increased its position in shares of Plexus Corp. by 285.6% in the first quarter. American Century Companies Inc. now owns 75,907 shares of the technology company’s stock valued at $4,387,000 after buying an additional 56,220 shares during the period. First Trust Advisors LP increased its position in shares of Plexus Corp. by 27.0% in the first quarter. First Trust Advisors LP now owns 34,533 shares of the technology company’s stock valued at $1,996,000 after buying an additional 7,333 shares during the period. LSV Asset Management bought a new position in shares of Plexus Corp. during the first quarter valued at approximately $358,000. Great West Life Assurance Co. Can increased its position in shares of Plexus Corp. by 7.2% in the first quarter. Great West Life Assurance Co. Can now owns 46,643 shares of the technology company’s stock valued at $2,694,000 after buying an additional 3,132 shares during the period. Finally, Profit Investment Management LLC increased its position in shares of Plexus Corp. by 33.5% in the first quarter. Profit Investment Management LLC now owns 39,046 shares of the technology company’s stock valued at $2,257,000 after buying an additional 9,790 shares during the period. Institutional investors own 95.20% of the company’s stock.
Plexus Corp. Company Profile
Plexus Corp. (Plexus) and its subsidiaries are engaged in the electronic manufacturing services (EMS) industry. The Company delivers end-to-end solutions for customers in the Americas (AMER), Europe, Middle East, and Africa (EMEA) and Asia-Pacific (APAC) regions. The Company’s segments are AMER, APAC and EMEA.
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