Plantronics (PLT) PT Set at $60.00 by Northland Securities

Plantronics (NYSE:PLT) has been given a $60.00 price target by research analysts at Northland Securities in a research note issued to investors on Friday. The firm presently has a “buy” rating on the technology company’s stock. Northland Securities’ price target would indicate a potential upside of 9.01% from the stock’s previous close.

Several other research analysts have also recently commented on the stock. TheStreet upgraded shares of Plantronics from a “c+” rating to a “b” rating in a report on Friday, November 24th. Roth Capital set a $55.00 target price on shares of Plantronics and gave the stock a “buy” rating in a report on Wednesday, November 1st. Zacks Investment Research upgraded shares of Plantronics from a “sell” rating to a “hold” rating in a report on Tuesday, October 3rd. Finally, Sidoti upgraded shares of Plantronics from a “neutral” rating to a “buy” rating and set a $60.00 target price for the company in a report on Tuesday, January 2nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $58.75.

Plantronics (NYSE:PLT) traded up $0.68 during trading hours on Friday, hitting $55.04. 215,300 shares of the stock traded hands, compared to its average volume of 176,500. Plantronics has a one year low of $41.28 and a one year high of $58.27. The company has a debt-to-equity ratio of 1.27, a quick ratio of 5.90 and a current ratio of 6.44. The company has a market cap of $1,819.96, a price-to-earnings ratio of 22.65, a price-to-earnings-growth ratio of 1.68 and a beta of 1.31.

Plantronics (NYSE:PLT) last posted its quarterly earnings data on Tuesday, October 31st. The technology company reported $0.60 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.10. Plantronics had a net margin of 9.41% and a return on equity of 20.12%. equities analysts forecast that Plantronics will post 2.19 earnings per share for the current year.

In related news, Director Maria Martinez sold 2,874 shares of the firm’s stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $51.25, for a total transaction of $147,292.50. Following the completion of the sale, the director now directly owns 7,389 shares in the company, valued at $378,686.25. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Joseph B. Burton sold 3,188 shares of the firm’s stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $51.87, for a total transaction of $165,361.56. Following the sale, the chief executive officer now owns 92,373 shares of the company’s stock, valued at $4,791,387.51. The disclosure for this sale can be found here. Over the last quarter, insiders sold 27,145 shares of company stock valued at $1,420,777. Corporate insiders own 3.20% of the company’s stock.

Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in shares of Plantronics by 1.3% during the second quarter. Vanguard Group Inc. now owns 2,762,404 shares of the technology company’s stock worth $144,502,000 after purchasing an additional 34,223 shares during the period. State Street Corp boosted its holdings in shares of Plantronics by 3.2% during the second quarter. State Street Corp now owns 1,221,003 shares of the technology company’s stock worth $63,875,000 after purchasing an additional 38,421 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Plantronics by 2.2% during the third quarter. Dimensional Fund Advisors LP now owns 858,695 shares of the technology company’s stock worth $37,972,000 after purchasing an additional 18,134 shares during the period. Northern Trust Corp boosted its holdings in shares of Plantronics by 0.9% during the second quarter. Northern Trust Corp now owns 680,739 shares of the technology company’s stock worth $35,609,000 after purchasing an additional 5,984 shares during the period. Finally, Macquarie Group Ltd. boosted its holdings in shares of Plantronics by 13.1% during the third quarter. Macquarie Group Ltd. now owns 535,506 shares of the technology company’s stock worth $23,680,000 after purchasing an additional 61,984 shares during the period. Institutional investors and hedge funds own 90.89% of the company’s stock.

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About Plantronics

Plantronics, Inc (Plantronics) is engaged in the design, manufacture, and distribution of headsets for business and consumer applications, and other specialty products for the hearing impaired. The Company is a global designer, manufacturer and marketer of communications headsets, telephone headset systems, other communication endpoints and accessories for the business and consumer markets.

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