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.
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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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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