Plexus (PLXS) Rating Increased to Buy at ValuEngine

ValuEngine upgraded shares of Plexus (NASDAQ:PLXS) from a hold rating to a buy rating in a report published on Sunday morning.

Several other research analysts also recently commented on PLXS. Stifel Nicolaus reiterated a hold rating and set a $54.00 target price on shares of Plexus in a research note on Tuesday, September 12th. JPMorgan Chase & Co. downgraded Plexus from an overweight rating to a neutral rating and set a $62.00 target price for the company. in a research note on Tuesday, October 10th. Citigroup lifted their target price on Plexus from $59.00 to $65.00 and gave the stock a neutral rating in a research note on Friday, October 27th. Zacks Investment Research downgraded Plexus from a hold rating to a sell rating in a research note on Monday, October 30th. Finally, BidaskClub downgraded Plexus from a hold rating to a sell rating in a research note on Saturday, December 16th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of Hold and a consensus price target of $57.86.

Shares of Plexus (NASDAQ:PLXS) traded up $0.08 during midday trading on Friday, hitting $61.16. The stock had a trading volume of 88,800 shares, compared to its average volume of 93,700. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.78 and a quick ratio of 1.06. Plexus has a one year low of $49.06 and a one year high of $64.12. The company has a market cap of $2,090.00, a P/E ratio of 18.88 and a beta of 0.88.

Plexus (NASDAQ:PLXS) last issued its earnings results on Wednesday, October 25th. The technology company reported $0.84 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.02. Plexus had a return on equity of 11.48% and a net margin of 4.43%. The company had revenue of $670.00 million during the quarter, compared to the consensus estimate of $676.23 million. During the same period in the previous year, the company posted $0.82 EPS. The firm’s revenue for the quarter was up 2.6% compared to the same quarter last year. equities analysts predict that Plexus will post 3.41 EPS for the current fiscal year.

In other news, insider Yong Jin Lim sold 10,000 shares of the company’s stock in a transaction on Monday, November 27th. The stock was sold at an average price of $63.07, for a total transaction of $630,700.00. Following the completion of the sale, the insider now directly owns 58,890 shares in the company, valued at approximately $3,714,192.30. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Ronnie Darroch sold 4,513 shares of the company’s stock in a transaction on Monday, October 30th. The shares were sold at an average price of $61.10, for a total value of $275,744.30. Following the sale, the vice president now owns 9,677 shares of the company’s stock, valued at $591,264.70. The disclosure for this sale can be found here. Insiders sold a total of 205,696 shares of company stock valued at $12,706,971 over the last 90 days. 3.70% of the stock is currently owned by corporate insiders.

Several large investors have recently added to or reduced their stakes in the company. Neuberger Berman Group LLC lifted 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 valued at $202,000 after acquiring an additional 31 shares during the period. Amalgamated Bank lifted 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 valued at $241,000 after acquiring an additional 65 shares during the period. Suntrust Banks Inc. lifted 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 valued at $285,000 after acquiring an additional 69 shares during the period. PNC Financial Services Group Inc. lifted 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 valued at $328,000 after acquiring an additional 92 shares during the period. Finally, Wells Fargo & Company MN lifted 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 valued at $1,825,000 after acquiring an additional 249 shares during the period. Hedge funds and other institutional investors own 93.45% of the company’s stock.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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