Plexus (PLXS) Downgraded to Sell at BidaskClub

Plexus (NASDAQ:PLXS) was downgraded by BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Saturday, December 16th.

Other equities analysts have also issued research reports about the company. JPMorgan Chase & Co. upgraded Plexus from a “neutral” rating to an “overweight” rating and set a $62.00 price target on the stock in a research note on Monday, August 28th. ValuEngine upgraded Plexus from a “hold” rating to a “buy” rating in a research report on Friday, September 22nd. Zacks Investment Research lowered Plexus from a “hold” rating to a “sell” rating in a research report on Monday, October 30th. Stifel Nicolaus restated a “hold” rating and set a $54.00 price objective on shares of Plexus in a research report on Tuesday, September 12th. Finally, Citigroup lifted their target price on Plexus from $59.00 to $65.00 and gave the stock a “neutral” rating in a report on Friday, October 27th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the stock. Plexus currently has a consensus rating of “Hold” and a consensus target price of $57.86.

Shares of Plexus (PLXS) traded up $0.79 during midday trading on Friday, reaching $64.55. The company’s stock had a trading volume of 165,954 shares, compared to its average volume of 127,269. The firm has a market cap of $2,160.00, a PE ratio of 19.92 and a beta of 0.88. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.78 and a quick ratio of 1.06. Plexus has a 52-week low of $49.06 and a 52-week high of $65.54.

Plexus (NASDAQ:PLXS) last announced its quarterly earnings data on Wednesday, October 25th. The technology company reported $0.84 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.82 by $0.02. Plexus had a return on equity of 11.48% and a net margin of 4.43%. The firm had revenue of $670.00 million during the quarter, compared to analysts’ expectations of $676.23 million. During the same period in the previous year, the firm earned $0.82 EPS. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. equities research analysts expect that Plexus will post 3.41 earnings per share for the current fiscal year.

In other Plexus news, Chairman Dean A. Foate sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $60.38, for a total transaction of $60,380.00. Following the completion of the sale, the chairman now directly owns 288,920 shares of the company’s stock, valued at approximately $17,444,989.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Dean A. Foate sold 12,300 shares of the business’s stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $63.41, for a total value of $779,943.00. Following the sale, the chairman now directly owns 295,220 shares of the company’s stock, valued at $18,719,900.20. The disclosure for this sale can be found here. Insiders have sold a total of 205,696 shares of company stock valued at $12,706,971 over the last three months. Corporate insiders own 3.70% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in PLXS. Riverhead Capital Management LLC grew its holdings in Plexus by 69.0% during the second quarter. Riverhead Capital Management LLC now owns 2,366 shares of the technology company’s stock valued at $124,000 after purchasing an additional 966 shares during the period. Appleton Group LLC bought a new position in Plexus during the third quarter valued at $201,000. Neuberger Berman Group LLC lifted its position in shares of Plexus by 0.8% during the second quarter. Neuberger Berman Group LLC now owns 3,834 shares of the technology company’s stock worth $202,000 after acquiring an additional 31 shares in the last quarter. Amalgamated Bank lifted its position in shares of Plexus by 1.4% during the second quarter. Amalgamated Bank now owns 4,582 shares of the technology company’s stock worth $241,000 after acquiring an additional 65 shares in the last quarter. Finally, Verition Fund Management LLC purchased a new stake in shares of Plexus during the second quarter worth $263,000. 93.45% of the stock is owned by institutional investors and hedge funds.

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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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