Preformed Line Products (NASDAQ:PLPC) was upgraded by equities researchers at TheStreet from a “c+” rating to a “b-” rating in a research note issued to investors on Wednesday, TheStreetRatingsTable reports.
A number of other analysts have also issued reports on the company. BidaskClub upgraded Preformed Line Products from a “strong sell” rating to a “sell” rating in a report on Tuesday, July 2nd. ValuEngine upgraded Preformed Line Products from a “hold” rating to a “buy” rating in a report on Thursday.
Shares of Preformed Line Products stock traded down $1.88 on Wednesday, reaching $55.50. The company’s stock had a trading volume of 8,227 shares, compared to its average volume of 4,879. The company has a market cap of $292.88 million, a P/E ratio of 12.95 and a beta of 1.45. Preformed Line Products has a 52 week low of $45.12 and a 52 week high of $88.29. The company has a quick ratio of 1.88, a current ratio of 3.11 and a debt-to-equity ratio of 0.20. The company’s fifty day moving average price is $55.30.
Institutional investors have recently bought and sold shares of the business. BNP Paribas Arbitrage SA increased its position in shares of Preformed Line Products by 550.0% during the first quarter. BNP Paribas Arbitrage SA now owns 650 shares of the technology company’s stock worth $35,000 after purchasing an additional 550 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Preformed Line Products during the first quarter worth $112,000. Bank of America Corp DE increased its position in shares of Preformed Line Products by 79.0% during the fourth quarter. Bank of America Corp DE now owns 2,180 shares of the technology company’s stock worth $119,000 after purchasing an additional 962 shares in the last quarter. Strs Ohio increased its position in shares of Preformed Line Products by 8.3% in the 2nd quarter. Strs Ohio now owns 3,900 shares of the technology company’s stock valued at $216,000 after acquiring an additional 300 shares during the period. Finally, Marshall Wace LLP increased its position in shares of Preformed Line Products by 111.8% in the 1st quarter. Marshall Wace LLP now owns 7,725 shares of the technology company’s stock valued at $410,000 after acquiring an additional 4,077 shares during the period. Institutional investors own 44.54% of the company’s stock.
Preformed Line Products Company Profile
Preformed Line Products Company, together with its subsidiaries, designs and manufactures products and systems used in the construction and maintenance of overhead and underground networks for the energy, telecommunication, cable operator, information, and other industries. The company offers formed wire and related hardware products to support, protect, terminate, and secure power conductor and communication cables, as well as to control cable dynamics; and hardware products to support and protect transmission conductors, spacers, spacer-dampers, stockbridge dampers, corona suppression devices, and various compression fittings for dead-end applications.
Further Reading: Oversold
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