Plexus Corp. (PLXS) Receives $74.00 Average PT from Brokerages

Shares of Plexus Corp. (NASDAQ:PLXS) have received a consensus rating of “Hold” from the six ratings firms that are presently covering the company, Marketbeat.com reports. Three analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $74.00.

A number of research firms have recently weighed in on PLXS. Zacks Investment Research lowered Plexus from a “buy” rating to a “hold” rating in a research note on Monday, January 21st. BidaskClub lowered Plexus from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 7th. Finally, Sidoti began coverage on Plexus in a research note on Wednesday, March 20th. They set a “buy” rating and a $78.00 price objective for the company.

NASDAQ PLXS traded up $1.40 on Wednesday, reaching $62.35. 135,341 shares of the company’s stock traded hands, compared to its average volume of 182,276. Plexus has a 12 month low of $47.63 and a 12 month high of $64.35. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.97 and a quick ratio of 0.94. The stock has a market capitalization of $1.88 billion, a P/E ratio of 19.30 and a beta of 0.77.

Plexus (NASDAQ:PLXS) last released its quarterly earnings data on Wednesday, January 16th. The technology company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.01. The firm had revenue of $765.54 million during the quarter, compared to analyst estimates of $768.32 million. Plexus had a return on equity of 12.44% and a net margin of 4.52%. The business’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.75 earnings per share. As a group, equities analysts expect that Plexus will post 3.71 earnings per share for the current fiscal year.

In related news, Chairman Dean A. Foate sold 60,000 shares of the firm’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $63.00, for a total value of $3,780,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Stephen P. Cortinovis sold 5,000 shares of the firm’s stock in a transaction on Tuesday, January 22nd. The stock was sold at an average price of $54.03, for a total value of $270,150.00. Following the completion of the sale, the director now directly owns 32,128 shares of the company’s stock, valued at approximately $1,735,875.84. The disclosure for this sale can be found here. In the last three months, insiders have sold 68,454 shares of company stock valued at $4,245,094. Insiders own 3.90% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. Federated Investors Inc. PA purchased a new position in Plexus during the third quarter valued at $92,000. Amundi Pioneer Asset Management Inc. purchased a new position in Plexus during the fourth quarter valued at $128,000. NumerixS Investment Technologies Inc purchased a new position in Plexus during the fourth quarter valued at $161,000. Jefferies Group LLC purchased a new position in Plexus during the third quarter valued at $216,000. Finally, Jane Street Group LLC purchased a new position in Plexus during the fourth quarter valued at $275,000. 96.45% of the stock is owned by institutional investors.

About Plexus

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. The company provides its solutions to companies in the healthcare and life sciences, industrial and commercial, communications, and aerospace and defense sectors.

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