Plexus (PLXS) Rating Increased to Buy at Longbow Research

Longbow Research upgraded shares of Plexus (NASDAQ:PLXS) from a neutral rating to a buy rating in a research note published on Monday, MarketBeat Ratings reports.

A number of other equities analysts also recently issued reports on PLXS. Stifel Nicolaus reissued a hold rating and set a $54.00 target price on shares of Plexus in a research note on Tuesday, September 12th. ValuEngine raised Plexus from a hold rating to a buy rating in a research note on Friday, September 22nd. JPMorgan Chase & Co. downgraded Plexus from an overweight rating to a neutral rating and set a $62.00 target price for the company. in a research note on Tuesday, October 10th. Citigroup increased their target price on Plexus from $59.00 to $65.00 and gave the stock a neutral rating in a research note on Friday, October 27th. Finally, Zacks Investment Research downgraded Plexus from a hold rating to a sell rating in a research note on Monday, October 30th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. Plexus presently has an average rating of Hold and an average price target of $57.86.

Shares of Plexus (PLXS) traded down $0.59 during mid-day trading on Monday, hitting $64.53. The stock had a trading volume of 199,408 shares, compared to its average volume of 130,117. The stock has a market cap of $2,190.00, a P/E ratio of 19.92 and a beta of 0.88. Plexus has a fifty-two week low of $49.06 and a fifty-two week high of $65.54. The company has a current ratio of 1.78, a quick ratio of 1.06 and a debt-to-equity ratio of 0.03.

Plexus (NASDAQ:PLXS) last issued its earnings results on Wednesday, October 25th. The technology company reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.02. The business had revenue of $670.00 million during the quarter, compared to the consensus estimate of $676.23 million. Plexus had a return on equity of 11.48% and a net margin of 4.43%. The company’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.82 EPS. analysts expect that Plexus will post 3.41 earnings per share for the current year.

In related news, insider Yong Jin Lim sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $63.07, for a total value of $630,700.00. Following the sale, the insider now owns 58,890 shares in the company, valued at approximately $3,714,192.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Dean A. Foate sold 33,750 shares of the company’s stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $61.22, for a total value of $2,066,175.00. Following the completion of the sale, the chairman now owns 303,920 shares in the company, valued at approximately $18,605,982.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 205,696 shares of company stock worth $12,706,971. Insiders own 3.70% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Mutual of America Capital Management LLC grew its holdings in shares of Plexus by 2.8% in the 3rd quarter. Mutual of America Capital Management LLC now owns 68,101 shares of the technology company’s stock worth $3,819,000 after acquiring an additional 1,861 shares during the period. Disciplined Growth Investors Inc. MN grew its holdings in Plexus by 0.5% during the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 3,038,867 shares of the technology company’s stock valued at $159,753,000 after buying an additional 16,329 shares during the last quarter. Principal Financial Group Inc. grew its holdings in Plexus by 3.8% during the 2nd quarter. Principal Financial Group Inc. now owns 282,731 shares of the technology company’s stock valued at $14,864,000 after buying an additional 10,388 shares during the last quarter. Brandywine Global Investment Management LLC acquired a new stake in Plexus during the 2nd quarter valued at $5,016,000. Finally, FMR LLC grew its holdings in Plexus by 546.1% during the 2nd quarter. FMR LLC now owns 1,111,655 shares of the technology company’s stock valued at $58,440,000 after buying an additional 939,589 shares during the last quarter. Institutional investors and hedge funds own 93.45% of the company’s stock.

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About Plexus

Plexus Corp. (Plexus) and its subsidiaries are engaged in the electronic manufacturing services (EMS) industry. The Company delivers end-to-end solutions for customers in the Americas (AMER), Europe, Middle East, and Africa (EMEA) and Asia-Pacific (APAC) regions. The Company’s segments are AMER, APAC and EMEA.

Analyst Recommendations for Plexus (NASDAQ:PLXS)

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