Plexus (NASDAQ:PLXS) Downgraded to Hold Rating by StockNews.com

by · The Cerbat Gem

StockNews.com downgraded shares of Plexus (NASDAQ:PLXS – Free Report) from a buy rating to a hold rating in a report issued on Wednesday.

Other research analysts also recently issued reports about the company. KeyCorp assumed coverage on Plexus in a report on Tuesday, October 22nd. They set a “sector weight” rating on the stock. Benchmark raised their price objective on Plexus from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Finally, Needham & Company LLC raised their price objective on Plexus from $144.00 to $162.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $133.50.

Read Our Latest Research Report on Plexus

Plexus Price Performance

Shares of Plexus stock opened at $166.77 on Wednesday. Plexus has a 12 month low of $90.18 and a 12 month high of $169.41. The company has a current ratio of 1.51, a quick ratio of 0.71 and a debt-to-equity ratio of 0.07. The stock has a 50 day moving average of $134.51 and a 200 day moving average of $119.30. The firm has a market cap of $4.54 billion, a PE ratio of 41.59 and a beta of 0.87.

Plexus (NASDAQ:PLXS – Get Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.55 by $0.30. Plexus had a return on equity of 9.51% and a net margin of 2.82%. The firm had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the prior year, the business posted $1.44 earnings per share. The company’s revenue for the quarter was up 2.6% on a year-over-year basis. On average, research analysts expect that Plexus will post 6.2 EPS for the current fiscal year.

Insider Buying and Selling at Plexus

In other Plexus news, CEO Todd P. Kelsey sold 1,000 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $123.75, for a total transaction of $123,750.00. Following the sale, the chief executive officer now owns 87,026 shares of the company’s stock, valued at approximately $10,769,467.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Steven J. Frisch sold 6,048 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $123.99, for a total value of $749,891.52. Following the completion of the sale, the insider now owns 30,070 shares of the company’s stock, valued at $3,728,379.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Todd P. Kelsey sold 1,000 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $123.75, for a total value of $123,750.00. Following the completion of the sale, the chief executive officer now directly owns 87,026 shares of the company’s stock, valued at $10,769,467.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 26,706 shares of company stock valued at $3,739,346. 2.39% of the stock is currently owned by corporate insiders.

Institutional Trading of Plexus

A number of institutional investors have recently made changes to their positions in PLXS. BNP Paribas Financial Markets boosted its position in shares of Plexus by 13.8% in the 1st quarter. BNP Paribas Financial Markets now owns 25,424 shares of the technology company’s stock worth $2,411,000 after purchasing an additional 3,087 shares in the last quarter. Capstone Investment Advisors LLC acquired a new stake in Plexus during the 1st quarter worth about $216,000. Texas Permanent School Fund Corp lifted its position in Plexus by 1.8% during the 1st quarter. Texas Permanent School Fund Corp now owns 24,166 shares of the technology company’s stock worth $2,291,000 after acquiring an additional 426 shares during the period. Quantbot Technologies LP acquired a new stake in Plexus during the 1st quarter worth about $533,000. Finally, SG Americas Securities LLC acquired a new stake in Plexus during the 1st quarter worth about $253,000. Institutional investors and hedge funds own 94.45% of the company’s stock.

About Plexus

(Get Free Report)

Plexus Corp. provides electronic manufacturing services in the United States and internationally. It offers design, develop, supply chain, new product introduction, and manufacturing solutions, as well as sustaining services to companies in the healthcare/life sciences, industrial/commercial, aerospace/defense, and communications market sectors.

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