Plexus (NASDAQ:PLXS) Upgraded to Strong-Buy by BidaskClub

BidaskClub upgraded shares of Plexus (NASDAQ:PLXS) from a buy rating to a strong-buy rating in a research note published on Thursday morning, BidAskClub reports.

Other analysts also recently issued reports about the stock. Needham & Company LLC reissued a buy rating and issued a $72.00 target price on shares of Plexus in a research report on Tuesday, April 23rd. Sidoti set a $72.00 target price on shares of Plexus and gave the stock a buy rating in a research report on Friday, June 14th. Finally, Zacks Investment Research raised shares of Plexus from a sell rating to a hold rating and set a $62.00 target price for the company in a research report on Tuesday. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Plexus currently has an average rating of Buy and an average price target of $68.67.

PLXS stock traded down $1.24 during trading hours on Thursday, hitting $58.52. The company’s stock had a trading volume of 213,899 shares, compared to its average volume of 175,922. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.78 and a quick ratio of 0.91. The stock has a market cap of $1.76 billion, a P/E ratio of 18.12 and a beta of 0.99. Plexus has a 12 month low of $47.63 and a 12 month high of $66.98. The stock has a 50 day moving average of $57.64.

Plexus (NASDAQ:PLXS) last posted its earnings results on Wednesday, July 17th. The technology company reported $0.81 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.81. The company had revenue of $799.64 million during the quarter, compared to the consensus estimate of $783.30 million. Plexus had a net margin of 4.62% and a return on equity of 12.40%. The company’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.79 earnings per share. On average, analysts predict that Plexus will post 3.37 earnings per share for the current year.

In related news, Director Peter Kelly sold 3,530 shares of the company’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $59.30, for a total transaction of $209,329.00. Following the completion of the sale, the director now directly owns 30,202 shares of the company’s stock, valued at approximately $1,790,978.60. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Ralf R. Boer sold 2,500 shares of the company’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $58.64, for a total transaction of $146,600.00. Following the sale, the director now directly owns 29,964 shares of the company’s stock, valued at $1,757,088.96. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 9,030 shares of company stock valued at $534,979. 3.90% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in Plexus by 15.6% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 240,108 shares of the technology company’s stock worth $14,015,000 after buying an additional 32,409 shares during the last quarter. Swiss National Bank increased its holdings in Plexus by 0.9% during the second quarter. Swiss National Bank now owns 57,500 shares of the technology company’s stock worth $3,356,000 after buying an additional 500 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in Plexus by 6.7% during the second quarter. Envestnet Asset Management Inc. now owns 22,663 shares of the technology company’s stock worth $1,323,000 after buying an additional 1,416 shares during the last quarter. Tocqueville Asset Management L.P. increased its holdings in Plexus by 10.0% during the second quarter. Tocqueville Asset Management L.P. now owns 125,400 shares of the technology company’s stock worth $7,320,000 after buying an additional 11,400 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan increased its holdings in Plexus by 48.3% during the second quarter. Municipal Employees Retirement System of Michigan now owns 13,480 shares of the technology company’s stock worth $787,000 after buying an additional 4,390 shares during the last quarter. 94.64% of the stock is owned by institutional investors and hedge funds.

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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