According to Zacks, “Plantronics is a global leader in audio communications for businesses and consumers. They have pioneered new trends in audio technology for 50 years, creating innovative products that allow people to simply communicate. From unified communication solutions to Bluetooth® headsets, they deliver uncompromising quality, an ideal experience, and extraordinary service. Plantronics is used by every company in the Fortune 100, as well as 911 dispatch, air traffic control and the New York Stock Exchange. “
PLT has been the topic of a number of other reports. Northland Securities set a $70.00 target price on shares of Plantronics and gave the stock a buy rating in a report on Monday, September 30th. Cowen set a $61.00 target price on shares of Plantronics and gave the stock a buy rating in a report on Wednesday, August 7th. Evercore ISI began coverage on shares of Plantronics in a report on Thursday, June 27th. They issued an outperform rating and a $50.00 target price on the stock. Sidoti set a $83.00 target price on shares of Plantronics and gave the stock a buy rating in a report on Wednesday, June 19th. Finally, Morgan Stanley began coverage on shares of Plantronics in a report on Thursday, September 19th. They issued an overweight rating and a $58.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock presently has an average rating of Buy and an average price target of $61.17.
NYSE PLT opened at $35.03 on Wednesday. The company has a debt-to-equity ratio of 2.45, a current ratio of 1.37 and a quick ratio of 0.99. The company’s 50 day simple moving average is $33.65 and its 200 day simple moving average is $40.00. Plantronics has a 12 month low of $26.09 and a 12 month high of $62.97. The company has a market capitalization of $1.30 billion, a P/E ratio of 8.40 and a beta of 1.54.
Plantronics (NYSE:PLT) last released its earnings results on Tuesday, August 6th. The technology company reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $1.03 by $0.03. Plantronics had a negative net margin of 10.25% and a positive return on equity of 21.22%. The business had revenue of $447.77 million for the quarter, compared to the consensus estimate of $490.49 million. During the same period in the previous year, the firm earned $0.74 EPS. The business’s revenue for the quarter was up 102.3% on a year-over-year basis. On average, analysts anticipate that Plantronics will post 4.57 earnings per share for the current year.
In other news, CEO Joseph B. Burton sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $33.00, for a total transaction of $165,000.00. Following the sale, the chief executive officer now owns 156,960 shares in the company, valued at $5,179,680. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.70% of the stock is owned by insiders.
Several hedge funds have recently added to or reduced their stakes in the company. Arizona State Retirement System raised its holdings in shares of Plantronics by 1.2% during the second quarter. Arizona State Retirement System now owns 23,806 shares of the technology company’s stock valued at $882,000 after acquiring an additional 282 shares during the period. Royal Bank of Canada raised its holdings in shares of Plantronics by 49.7% during the second quarter. Royal Bank of Canada now owns 1,370 shares of the technology company’s stock valued at $51,000 after acquiring an additional 455 shares during the period. Swiss National Bank raised its holdings in shares of Plantronics by 1.1% during the second quarter. Swiss National Bank now owns 62,400 shares of the technology company’s stock valued at $2,311,000 after acquiring an additional 700 shares during the period. Point72 Hong Kong Ltd raised its holdings in shares of Plantronics by 38.6% during the second quarter. Point72 Hong Kong Ltd now owns 2,574 shares of the technology company’s stock valued at $95,000 after acquiring an additional 717 shares during the period. Finally, First Trust Advisors LP raised its holdings in shares of Plantronics by 10.1% during the second quarter. First Trust Advisors LP now owns 9,246 shares of the technology company’s stock valued at $342,000 after acquiring an additional 846 shares during the period. Institutional investors and hedge funds own 99.73% of the company’s stock.
Plantronics Company Profile
Plantronics, Inc designs, manufactures, and markets integrated communications and collaborations solutions for consumers and businesses worldwide. The company offers its communications and collaboration solutions for voice, video, and content sharing, as well as a line of support and services for the workplace under the Polycom brand.
Further Reading: Can systematic risk be avoided?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Plantronics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Plantronics and related companies with MarketBeat.com's FREE daily email newsletter.