Plexus Corp. (NASDAQ:PLXS) Receives Consensus Rating of “Buy” from Analysts

Shares of Plexus Corp. (NASDAQ:PLXSGet Rating) have earned a consensus recommendation of “Buy” from the eight brokerages that are covering the company, MarketBeat reports. Three analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $98.12.

Several brokerages have recently issued reports on PLXS. Zacks Investment Research raised Plexus from a “strong sell” rating to a “hold” rating and set a $88.00 target price on the stock in a report on Wednesday, March 30th. Needham & Company LLC reduced their target price on Plexus from $95.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, January 28th. StockNews.com began coverage on Plexus in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Finally, TheStreet cut Plexus from a “b” rating to a “c+” rating in a research note on Thursday, February 24th.

Shares of PLXS stock traded up $1.09 during trading hours on Friday, hitting $82.17. The stock had a trading volume of 86,398 shares, compared to its average volume of 114,973. Plexus has a one year low of $72.88 and a one year high of $101.17. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.47 and a quick ratio of 0.64. The stock’s 50-day moving average price is $81.48 and its two-hundred day moving average price is $85.53. The stock has a market capitalization of $2.28 billion, a price-to-earnings ratio of 21.18 and a beta of 1.10.

Plexus (NASDAQ:PLXSGet Rating) last issued its earnings results on Wednesday, April 27th. The technology company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.12. Plexus had a return on equity of 11.05% and a net margin of 3.31%. The firm had revenue of $888.70 million for the quarter, compared to analysts’ expectations of $839.76 million. During the same period in the previous year, the firm posted $1.49 earnings per share. The business’s revenue was up .9% compared to the same quarter last year. As a group, equities research analysts predict that Plexus will post 4.1 earnings per share for the current fiscal year.

In related news, CFO Patrick John Jermain sold 2,385 shares of the business’s stock in a transaction that occurred on Wednesday, May 4th. The stock was sold at an average price of $82.49, for a total value of $196,738.65. Following the completion of the sale, the chief financial officer now owns 47,934 shares in the company, valued at $3,954,075.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Angelo Michael Ninivaggi, Jr. sold 1,200 shares of the business’s stock in a transaction that occurred on Monday, May 2nd. The shares were sold at an average price of $80.66, for a total value of $96,792.00. Following the completion of the sale, the chief accounting officer now owns 32,760 shares of the company’s stock, valued at approximately $2,642,421.60. The disclosure for this sale can be found here. Insiders have sold 8,801 shares of company stock valued at $721,475 in the last 90 days. Company insiders own 2.17% of the company’s stock.

A number of large investors have recently modified their holdings of the stock. FCA Corp TX raised its stake in Plexus by 1.7% in the first quarter. FCA Corp TX now owns 13,355 shares of the technology company’s stock worth $1,093,000 after buying an additional 222 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Plexus by 4.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 348,646 shares of the technology company’s stock worth $28,523,000 after purchasing an additional 15,426 shares in the last quarter. First Trust Advisors LP increased its position in shares of Plexus by 2.1% during the first quarter. First Trust Advisors LP now owns 27,442 shares of the technology company’s stock worth $2,245,000 after purchasing an additional 571 shares in the last quarter. Ergoteles LLC acquired a new position in shares of Plexus during the first quarter worth $385,000. Finally, Zions Bancorporation N.A. increased its position in shares of Plexus by 36.4% during the first quarter. Zions Bancorporation N.A. now owns 8,747 shares of the technology company’s stock worth $716,000 after purchasing an additional 2,335 shares in the last quarter. 94.92% of the stock is owned by institutional investors.

Plexus Company Profile (Get Rating)

Plexus Corp., together with its subsidiaries, provides electronic manufacturing services in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. It offers design and development, supply chain, new product introduction, and manufacturing solutions, as well as aftermarket services to companies in the healthcare/life sciences, industrial/commercial, aerospace/defense, and communications market sectors.

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Analyst Recommendations for Plexus (NASDAQ:PLXS)

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