Plantronics (PLT) Stock Rating Lowered by TheStreet

TheStreet downgraded shares of Plantronics (NYSE:PLT) from a b rating to a c rating in a research report report published on Friday.

PLT has been the topic of a number of other research reports. Northland Securities set a $60.00 target price on shares of Plantronics and gave the stock a buy rating in a report on Friday, January 12th. 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. Finally, Sidoti raised shares of Plantronics from a neutral rating to a buy rating and set a $60.00 target price on the stock in a report on Tuesday, January 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. The company has an average rating of Hold and an average target price of $60.00.

Plantronics (NYSE PLT) opened at $55.46 on Friday. The company has a quick ratio of 6.16, a current ratio of 6.76 and a debt-to-equity ratio of 1.50. Plantronics has a twelve month low of $41.28 and a twelve month high of $60.49. The stock has a market cap of $1,895.56, a PE ratio of 264.11, a price-to-earnings-growth ratio of 1.52 and a beta of 1.37.

Plantronics (NYSE:PLT) last issued its earnings results on Tuesday, January 30th. The technology company reported $1.02 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.79 by $0.23. Plantronics had a net margin of 1.03% and a return on equity of 22.22%. The firm had revenue of $226.50 million for the quarter, compared to analysts’ expectations of $220.17 million. During the same quarter last year, the company posted $0.79 earnings per share. Plantronics’s revenue was down 2.7% on a year-over-year basis. equities analysts expect that Plantronics will post 2.52 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 9th. Stockholders of record on Tuesday, February 20th will be issued a dividend of $0.15 per share. The ex-dividend date is Friday, February 16th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.08%. Plantronics’s dividend payout ratio (DPR) is presently 285.73%.

In related news, Director Brian S. Dexheimer sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $58.52, for a total transaction of $146,300.00. Following the sale, the director now owns 18,002 shares of the company’s stock, valued at $1,053,477.04. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director John Hart sold 21,083 shares of the business’s stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $52.56, for a total value of $1,108,122.48. Following the sale, the director now directly owns 11,094 shares in the company, valued at approximately $583,100.64. The disclosure for this sale can be found here. Insiders own 3.20% of the company’s stock.

A number of large investors have recently made changes to their positions in PLT. C M Bidwell & Associates Ltd. bought a new stake in Plantronics during the fourth quarter worth approximately $195,000. M&T Bank Corp raised its holdings in Plantronics by 13.9% during the second quarter. M&T Bank Corp now owns 4,484 shares of the technology company’s stock worth $235,000 after purchasing an additional 546 shares in the last quarter. OxFORD Asset Management LLP bought a new stake in Plantronics during the second quarter worth approximately $243,000. Koch Industries Inc. raised its holdings in Plantronics by 6,554.8% during the second quarter. Koch Industries Inc. now owns 248,691 shares of the technology company’s stock worth $244,000 after purchasing an additional 244,954 shares in the last quarter. Finally, Amalgamated Bank raised its holdings in Plantronics by 5.0% during the second quarter. Amalgamated Bank now owns 4,788 shares of the technology company’s stock worth $250,000 after purchasing an additional 230 shares in the last quarter. 90.66% of the stock is currently owned by hedge funds and other institutional investors.

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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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