Plexus (NASDAQ:PLXS – Get Rating) had its target price dropped by analysts at JPMorgan Chase & Co. from $90.00 to $86.00 in a report released on Friday, Benzinga reports. The firm currently has an "underweight" rating on the technology company's stock. JPMorgan Chase & Co.'s target price indicates a potential downside of 8.37% from the stock's current price.
A number of other research firms have also recently issued reports on PLXS. Sidoti cut Plexus from a "buy" rating to a "neutral" rating and set a $116.00 price objective for the company. in a report on Tuesday, January 17th. StockNews.com started coverage on shares of Plexus in a research note on Wednesday, October 12th. They set a "hold" rating for the company. Needham & Company LLC reduced their price target on shares of Plexus from $112.00 to $108.00 and set a "buy" rating on the stock in a research note on Friday. Raymond James boosted their price target on Plexus from $105.00 to $115.00 and gave the company an "outperform" rating in a report on Friday, October 28th. Finally, Benchmark raised their price objective on Plexus to $110.00 in a report on Tuesday, November 1st. One analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $107.00.
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Plexus Trading Down 17.1 %
Shares of PLXS opened at $93.86 on Friday. The company's fifty day simple moving average is $107.46 and its 200-day simple moving average is $97.69. The company has a market cap of $2.60 billion, a P/E ratio of 16.91 and a beta of 1.13. The company has a current ratio of 1.40, a quick ratio of 0.60 and a debt-to-equity ratio of 0.17. Plexus has a twelve month low of $72.88 and a twelve month high of $115.36.
Plexus (NASDAQ:PLXS – Get Rating) last posted its quarterly earnings data on Wednesday, January 25th. The technology company reported $1.49 earnings per share for the quarter, topping analysts' consensus estimates of $1.47 by $0.02. Plexus had a net
margin of 3.84% and a return on equity of 14.74%. The company had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same period in the prior year, the company posted $0.88 EPS. The firm's revenue for the quarter was up 33.8% on a year-over-year basis. As a group, analysts expect that Plexus will post 5.96 EPS for the current year.
Insider Activity at Plexus
In other Plexus news, CAO Angelo Michael Ninivaggi, Jr. sold 1,135 shares of the company's stock in a transaction on Thursday, December 1st. The stock was sold at an average price of $110.12, for a total transaction of $124,986.20. Following the completion of the sale, the chief accounting officer now owns 31,818 shares in the company, valued at $3,503,798.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CEO Todd P. Kelsey sold 1,000 shares of the stock in a transaction that occurred on Wednesday, November 2nd. The shares were sold at an average price of $102.99, for a total transaction of $102,990.00. Following the completion of the sale, the chief executive officer now owns 96,904 shares of the company's stock, valued at $9,980,142.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Angelo Michael Ninivaggi, Jr. sold 1,135 shares of the firm's stock in a transaction that occurred on Thursday, December 1st. The shares were sold at an average price of $110.12, for a total transaction of $124,986.20. Following the completion of the sale, the chief accounting officer now owns 31,818 shares of the company's stock, valued at $3,503,798.16. The disclosure for this sale can be found here. Insiders have sold a total of 28,987 shares of company stock valued at $3,046,097 over the last ninety days. 2.05% of the stock is owned by company insiders.
Institutional Trading of Plexus
Several hedge funds and other institutional investors have recently made changes to their positions in the business. Congress Asset Management Co. MA boosted its holdings in Plexus by 0.7% in the fourth quarter. Congress Asset Management Co. MA now owns 14,319 shares of the technology company's stock worth $1,474,000 after acquiring an additional 95 shares in the last quarter. FCA Corp TX raised its position in shares of Plexus by 0.7% in the 3rd quarter. FCA Corp TX now owns 14,151 shares of the technology company's stock valued at $1,239,000 after purchasing an additional 98 shares during the last quarter. Amalgamated Bank boosted its stake in Plexus by 0.8% in the 3rd quarter. Amalgamated Bank now owns 13,289 shares of the technology company's stock worth $1,164,000 after purchasing an additional 104 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in Plexus by 0.9% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 16,381 shares of the technology company's stock worth $1,286,000 after purchasing an additional 153 shares during the last quarter. Finally, MQS Management LLC increased its stake in Plexus by 2.1% during the 3rd quarter. MQS Management LLC now owns 7,782 shares of the technology company's stock valued at $681,000 after purchasing an additional 161 shares in the last quarter. Hedge funds and other institutional investors own 96.01% of the company's stock.
Plexus Company Profile
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Plexus Corp. engages in the provision of electronic manufacturing services. The firm partners with companies to transform concepts into branded products and deliver them to the market. It has partnerships with customers in the healthcare and life sciences, industrial and commercial, communications, and aerospace and defense market sectors.
Further Reading
- Get a free copy of the StockNews.com research report on Plexus (PLXS)
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