Plexus (PLXS) Downgraded to C+ at TheStreet

TheStreet downgraded shares of Plexus (NASDAQ:PLXS) from an a- rating to a c+ rating in a report issued on Wednesday morning.

A number of other analysts also recently weighed in on PLXS. JPMorgan Chase & Co. downgraded shares of Plexus from an overweight rating to a neutral rating and set a $62.00 price target for the company. in a report on Tuesday, October 10th. ValuEngine raised shares of Plexus from a hold rating to a buy rating in a report on Sunday, December 31st. Longbow Research raised shares of Plexus from a neutral rating to a buy rating in a report on Monday, January 8th. Zacks Investment Research downgraded shares of Plexus from a hold rating to a sell rating in a report on Monday, October 30th. Finally, Citigroup increased their price target on shares of Plexus from $59.00 to $65.00 and gave the company a neutral rating in a report on Friday, October 27th. Two analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. Plexus presently has an average rating of Hold and a consensus target price of $59.17.

Shares of Plexus (NASDAQ:PLXS) traded up $0.44 during trading on Wednesday, reaching $60.56. 225,219 shares of the company’s stock were exchanged, compared to its average volume of 188,085. 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 has a 12-month low of $49.06 and a 12-month high of $66.78. The company has a market cap of $2,040.00, a P/E ratio of -118.75 and a beta of 0.88.

Plexus (NASDAQ:PLXS) last issued its quarterly earnings results on Wednesday, January 17th. The technology company reported $0.75 earnings per share for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.05). Plexus had a negative net margin of 0.57% and a positive return on equity of 11.07%. The company had revenue of $677.00 million during the quarter, compared to the consensus estimate of $685.07 million. During the same period last year, the company earned $0.82 earnings per share. Plexus’s revenue for the quarter was up 6.6% on a year-over-year basis. analysts forecast that Plexus will post 3.41 earnings per share for the current year.

In other news, CAO Angelo Michael Ninivaggi, Jr. sold 16,000 shares of the stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $61.58, for a total value of $985,280.00. Following the completion of the transaction, the chief accounting officer now owns 18,159 shares in the company, valued at approximately $1,118,231.22. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Yong Jin Lim sold 10,000 shares of the stock in a transaction on Monday, November 27th. The shares were sold at an average price of $63.07, for a total transaction of $630,700.00. Following the completion of the transaction, the insider now owns 58,890 shares of the company’s stock, valued at approximately $3,714,192.30. The disclosure for this sale can be found here. In the last 90 days, insiders sold 205,696 shares of company stock valued at $12,706,971. Corporate insiders own 3.70% of the company’s stock.

Several institutional investors have recently made changes to their positions in the stock. Neuberger Berman Group LLC increased its position in shares of Plexus by 0.8% during the 2nd quarter. Neuberger Berman Group LLC now owns 3,834 shares of the technology company’s stock worth $202,000 after purchasing an additional 31 shares in the last quarter. Amalgamated Bank increased its position in shares of Plexus by 1.4% during the 2nd quarter. Amalgamated Bank now owns 4,582 shares of the technology company’s stock worth $241,000 after purchasing an additional 65 shares in the last quarter. Suntrust Banks Inc. increased its position in shares of Plexus by 1.3% during the 2nd quarter. Suntrust Banks Inc. now owns 5,440 shares of the technology company’s stock worth $285,000 after purchasing an additional 69 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of Plexus by 1.5% during the 2nd quarter. PNC Financial Services Group Inc. now owns 6,228 shares of the technology company’s stock worth $328,000 after purchasing an additional 92 shares in the last quarter. Finally, Wells Fargo & Company MN increased its position in shares of Plexus by 0.7% during the 2nd quarter. Wells Fargo & Company MN now owns 34,733 shares of the technology company’s stock worth $1,825,000 after purchasing an additional 249 shares in the last quarter. Institutional investors and hedge funds own 93.95% of the company’s stock.

TRADEMARK VIOLATION NOTICE: This news story was first posted by StockNewsTimes and is owned by of StockNewsTimes. If you are accessing this news story on another website, it was stolen and reposted in violation of U.S. & international trademark and copyright legislation. The correct version of this news story can be read at https://stocknewstimes.com/2018/01/19/plexus-plxs-downgraded-to-c-at-thestreet.html.

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)

Receive News & Ratings for Plexus Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Plexus and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply