Plantronics (PLT) Upgraded at Sidoti

Sidoti upgraded shares of Plantronics (NYSE:PLT) from a neutral rating to a buy rating in a research report released on Tuesday morning, Marketbeat Ratings reports. Sidoti currently has $60.00 target price on the technology company’s stock.

A number of other equities analysts have also commented on PLT. Roth Capital set a $55.00 price objective on Plantronics and gave the stock a buy rating in a research note on Wednesday, November 1st. Zacks Investment Research upgraded Plantronics from a sell rating to a hold rating in a research note on Tuesday, October 3rd. Finally, TheStreet upgraded Plantronics from a c+ rating to a b rating in a research note on Friday, November 24th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus target price of $58.00.

Plantronics (PLT) traded up $0.57 during trading on Tuesday, reaching $52.79. The company’s stock had a trading volume of 243,800 shares, compared to its average volume of 205,333. Plantronics has a 12-month low of $41.28 and a 12-month high of $58.27. The company has a debt-to-equity ratio of 1.27, a quick ratio of 5.90 and a current ratio of 6.44. The company has a market cap of $1,760.00, a price-to-earnings ratio of 21.64, a PEG ratio of 1.59 and a beta of 1.31.

The firm also recently declared a quarterly dividend, which was paid on Friday, December 8th. Stockholders of record on Monday, November 20th were paid a $0.15 dividend. The ex-dividend date was Friday, November 17th. This represents a $0.60 annualized dividend and a dividend yield of 1.14%. Plantronics’s payout ratio is 24.59%.

In other news, Director Maria Martinez sold 2,874 shares of Plantronics stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $51.25, for a total value of $147,292.50. Following the transaction, the director now owns 7,389 shares in the company, valued at approximately $378,686.25. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John Hart sold 21,083 shares of Plantronics stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $52.56, for a total value of $1,108,122.48. Following the completion of the transaction, the director now owns 11,094 shares in the company, valued at approximately $583,100.64. The disclosure for this sale can be found here. In the last quarter, insiders sold 27,145 shares of company stock worth $1,420,777. Corporate insiders own 3.20% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. Acrospire Investment Management LLC acquired a new stake in shares of Plantronics during the 2nd quarter valued at $126,000. Riverhead Capital Management LLC boosted its holdings in shares of Plantronics by 85.5% during the 2nd quarter. Riverhead Capital Management LLC now owns 2,597 shares of the technology company’s stock valued at $136,000 after acquiring an additional 1,197 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Plantronics by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 3,304 shares of the technology company’s stock valued at $173,000 after acquiring an additional 494 shares in the last quarter. Neuberger Berman Group LLC boosted its holdings in shares of Plantronics by 0.8% during the 2nd quarter. Neuberger Berman Group LLC now owns 3,839 shares of the technology company’s stock valued at $201,000 after acquiring an additional 31 shares in the last quarter. Finally, Airain ltd acquired a new stake in shares of Plantronics during the 2nd quarter valued at $225,000. Institutional investors own 90.89% of the company’s stock.

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Plantronics Company Profile

Plantronics, Inc (Plantronics) is engaged in the design, manufacture, and distribution of headsets for business and consumer applications, and other specialty products for the hearing impaired. The Company is a global designer, manufacturer and marketer of communications headsets, telephone headset systems, other communication endpoints and accessories for the business and consumer markets.

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