Plexus Corp. (PLXS) Receives “Hold” Rating from Stifel Nicolaus

Stifel Nicolaus reiterated their hold rating on shares of Plexus Corp. (NASDAQ:PLXS) in a research report report published on Tuesday morning. They currently have a $54.00 target price on the technology company’s stock.

A number of other brokerages have also weighed in on PLXS. Zacks Investment Research lowered Plexus Corp. from a hold rating to a sell rating in a research note on Tuesday, July 25th. Deutsche Bank AG upped their target price on Plexus Corp. from $50.00 to $54.00 and gave the stock a hold rating in a research note on Friday, July 21st. Citigroup Inc. upped their target price on Plexus Corp. from $56.00 to $59.00 and gave the stock a neutral rating in a research note on Friday, July 21st. ValuEngine lowered Plexus Corp. from a buy rating to a hold rating in a research note on Friday, July 14th. Finally, BidaskClub lowered Plexus Corp. from a hold rating to a sell rating in a research note on Saturday, August 5th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company’s stock. Plexus Corp. currently has a consensus rating of Hold and an average price target of $57.88.

Plexus Corp. (NASDAQ PLXS) opened at 52.69 on Tuesday. The firm has a 50-day moving average price of $51.63 and a 200-day moving average price of $53.33. The company has a market cap of $1.77 billion, a PE ratio of 17.79 and a beta of 0.94. Plexus Corp. has a 52-week low of $44.35 and a 52-week high of $58.74.

Plexus Corp. (NASDAQ:PLXS) last issued its quarterly earnings data on Wednesday, July 19th. The technology company reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.02. The business had revenue of $618.80 million for the quarter, compared to analysts’ expectations of $608.95 million. Plexus Corp. had a return on equity of 10.76% and a net margin of 4.07%. The firm’s quarterly revenue was down 7.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.82 EPS. On average, analysts forecast that Plexus Corp. will post $3.22 EPS for the current year.

TRADEMARK VIOLATION NOTICE: “Plexus Corp. (PLXS) Receives “Hold” Rating from Stifel Nicolaus” was originally posted by Chaffey Breeze and is the property of of Chaffey Breeze. If you are reading this report on another website, it was copied illegally and republished in violation of U.S. & international copyright & trademark legislation. The legal version of this report can be read at https://www.chaffeybreeze.com/2017/09/16/plexus-corp-plxs-receives-hold-rating-from-stifel-nicolaus.html.

In other news, insider Oliver K. Mihm sold 2,749 shares of the stock in a transaction dated Thursday, July 20th. The stock was sold at an average price of $54.87, for a total transaction of $150,837.63. Following the transaction, the insider now directly owns 6,223 shares in the company, valued at approximately $341,456.01. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Angelo Michael Ninivaggi, Jr. sold 10,350 shares of the stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $49.46, for a total value of $511,911.00. Following the transaction, the chief accounting officer now owns 17,009 shares in the company, valued at $841,265.14. The disclosure for this sale can be found here. Insiders have sold a total of 90,580 shares of company stock worth $4,862,392 over the last quarter. Corporate insiders own 4.30% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. increased its position in shares of Plexus Corp. by 50,519.1% during the 1st quarter. BlackRock Inc. now owns 4,267,193 shares of the technology company’s stock valued at $246,644,000 after purchasing an additional 4,258,763 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Plexus Corp. by 1.7% during the 2nd quarter. Vanguard Group Inc. now owns 3,310,813 shares of the technology company’s stock valued at $174,049,000 after purchasing an additional 53,925 shares during the last quarter. Disciplined Growth Investors Inc. MN increased its position in shares of Plexus Corp. by 0.5% during the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 3,038,867 shares of the technology company’s stock valued at $159,753,000 after purchasing an additional 16,329 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Plexus Corp. by 5.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,817,137 shares of the technology company’s stock valued at $148,098,000 after purchasing an additional 155,417 shares during the last quarter. Finally, FMR LLC increased its position in shares of Plexus Corp. by 546.1% during the 2nd quarter. FMR LLC now owns 1,111,655 shares of the technology company’s stock valued at $58,440,000 after purchasing an additional 939,589 shares during the last quarter. Hedge funds and other institutional investors own 94.51% of the company’s stock.

Plexus Corp. Company Profile

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 Corp. (NASDAQ:PLXS)

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