BidaskClub Lowers Plexus (PLXS) to Sell

BidaskClub downgraded shares of Plexus (NASDAQ:PLXS) from a hold rating to a sell rating in a research report sent to investors on Saturday morning.

Several other brokerages also recently issued reports on PLXS. Citigroup increased their price objective on shares of Plexus from $59.00 to $65.00 and gave the company a neutral rating in a research report on Friday, October 27th. ValuEngine raised shares of Plexus from a hold rating to a buy rating in a research report on Friday, September 22nd. Zacks Investment Research downgraded shares of Plexus from a hold rating to a sell rating in a research report on Monday, October 30th. J P Morgan Chase & Co downgraded shares of Plexus from an overweight rating to a neutral rating and set a $62.00 price objective for the company. in a research report on Tuesday, October 10th. Finally, Stifel Nicolaus reaffirmed a hold rating and issued a $54.00 price objective on shares of Plexus in a research report on Tuesday, September 12th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. Plexus currently has a consensus rating of Hold and a consensus target price of $57.86.

Shares of Plexus (PLXS) opened at $61.49 on Friday. The company has a current ratio of 1.78, a quick ratio of 1.06 and a debt-to-equity ratio of 0.03. Plexus has a 1 year low of $49.06 and a 1 year high of $64.12. The stock has a market cap of $2,072.19, a P/E ratio of 19.01 and a beta of 0.87.

Plexus (NASDAQ:PLXS) last issued its quarterly earnings data on Wednesday, October 25th. The technology company reported $0.84 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.82 by $0.02. Plexus had a net margin of 4.33% and a return on equity of 11.54%. The company had revenue of $670.00 million during the quarter, compared to the consensus estimate of $676.23 million. During the same quarter last year, the company earned $0.82 earnings per share. Plexus’s revenue for the quarter was up 2.6% on a year-over-year basis. analysts expect that Plexus will post 3.41 earnings per share for the current year.

In other news, VP Ronnie Darroch sold 4,513 shares of the stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $61.10, for a total transaction of $275,744.30. Following the completion of the transaction, the vice president now directly owns 9,677 shares in the company, valued at approximately $591,264.70. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Chairman Dean A. Foate sold 12,300 shares of the stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $63.41, for a total value of $779,943.00. Following the transaction, the chairman now owns 295,220 shares of the company’s stock, valued at $18,719,900.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 205,696 shares of company stock valued at $12,706,971. Company insiders own 3.70% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in PLXS. FMR LLC boosted its stake in shares of Plexus by 546.1% during the 2nd quarter. FMR LLC now owns 1,111,655 shares of the technology company’s stock valued at $58,440,000 after buying an additional 939,589 shares during the last quarter. Franklin Resources Inc. bought a new stake in Plexus in the second quarter valued at $12,449,000. Dimensional Fund Advisors LP lifted its stake in Plexus by 5.8% in the second quarter. Dimensional Fund Advisors LP now owns 2,817,137 shares of the technology company’s stock valued at $148,098,000 after buying an additional 155,417 shares during the last quarter. Vaughan Nelson Investment Management L.P. lifted its stake in Plexus by 24.3% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 525,550 shares of the technology company’s stock valued at $29,473,000 after buying an additional 102,575 shares during the last quarter. Finally, Brandywine Global Investment Management LLC bought a new stake in Plexus in the second quarter valued at $5,016,000. Institutional investors own 93.62% of the company’s stock.

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About Plexus

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.

Analyst Recommendations for Plexus (NASDAQ:PLXS)

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