Plexus Corp. (NASDAQ:PLXS) Given Average Rating of “Moderate Buy” by Analysts

Shares of Plexus Corp. (NASDAQ:PLXS) have been assigned an average rating of “Moderate Buy” from the three ratings firms that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $112.00.

PLXS has been the topic of a number of research reports. Stifel Nicolaus boosted their target price on shares of Plexus from $90.00 to $95.00 and gave the stock a “hold” rating in a report on Friday. Sidoti downgraded shares of Plexus from a “buy” rating to a “neutral” rating and set a $112.00 target price on the stock. in a report on Tuesday, January 9th. TheStreet downgraded shares of Plexus from a “b” rating to a “c+” rating in a report on Tuesday, February 13th. Benchmark restated a “buy” rating and issued a $110.00 target price on shares of Plexus in a report on Wednesday, January 17th. Finally, Needham & Company LLC boosted their target price on shares of Plexus from $107.00 to $114.00 and gave the stock a “buy” rating in a report on Friday.

Insider Activity at Plexus

In other Plexus news, CFO Patrick John Jermain sold 2,532 shares of the company’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $92.51, for a total value of $234,235.32. Following the transaction, the chief financial officer now directly owns 54,651 shares in the company, valued at approximately $5,055,764.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Todd P. Kelsey sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $94.00, for a total value of $188,000.00. Following the completion of the sale, the chief executive officer now owns 121,310 shares of the company’s stock, valued at approximately $11,403,140. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Patrick John Jermain sold 2,532 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $92.51, for a total transaction of $234,235.32. Following the completion of the sale, the chief financial officer now directly owns 54,651 shares of the company’s stock, valued at approximately $5,055,764.01. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 32,453 shares of company stock worth $3,112,875. Insiders own 2.39% of the company’s stock.

Institutional Investors Weigh In On Plexus

Hedge funds have recently modified their holdings of the business. Qube Research & Technologies Ltd lifted its position in shares of Plexus by 93.7% in the 3rd quarter. Qube Research & Technologies Ltd now owns 22,691 shares of the technology company’s stock worth $2,110,000 after purchasing an additional 10,975 shares during the period. Avior Wealth Management LLC lifted its position in Plexus by 115.2% during the fourth quarter. Avior Wealth Management LLC now owns 2,118 shares of the technology company’s stock valued at $229,000 after acquiring an additional 1,134 shares during the last quarter. Vanguard Group Inc. lifted its position in Plexus by 1.4% during the third quarter. Vanguard Group Inc. now owns 3,453,940 shares of the technology company’s stock valued at $321,147,000 after acquiring an additional 47,762 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Plexus during the third quarter valued at approximately $715,000. Finally, First Eagle Investment Management LLC purchased a new stake in Plexus during the third quarter valued at approximately $5,865,000. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Plexus Price Performance

PLXS stock traded up $1.31 during mid-day trading on Friday, hitting $100.40. The company had a trading volume of 30,757 shares, compared to its average volume of 116,817. The company has a market capitalization of $2.77 billion, a price-to-earnings ratio of 27.56 and a beta of 1.02. Plexus has a 12-month low of $83.84 and a 12-month high of $114.06. The company has a quick ratio of 0.62, a current ratio of 1.52 and a debt-to-equity ratio of 0.15. The company has a 50-day moving average price of $94.38 and a 200 day moving average price of $98.38.

Plexus (NASDAQ:PLXS) last announced its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.94 EPS for the quarter, topping the consensus estimate of $0.87 by $0.07. The business had revenue of $966.90 million for the quarter, compared to analysts’ expectations of $950.75 million. Plexus had a net margin of 2.54% and a return on equity of 10.86%. The business’s quarterly revenue was down 9.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.45 EPS. On average, research analysts anticipate that Plexus will post 4.36 earnings per share for the current year.

Plexus Company Profile

Plexus Corp. provides electronic manufacturing services in the United States and internationally. It offers design, develop, supply chain, new product introduction, and manufacturing solutions, as well as sustaining services to companies in the healthcare/life sciences, industrial/commercial, aerospace/defense, and communications market sectors.