Plexus Corp. (PLXS) Receives Average Rating of “Hold” from Brokerages

Plexus Corp. (NASDAQ:PLXS) has been given an average recommendation of “Hold” by the nine brokerages that are currently covering the stock, Marketbeat.com reports. Six analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $60.75.

PLXS has been the topic of a number of analyst reports. Zacks Investment Research raised Plexus from a “hold” rating to a “buy” rating and set a $72.00 price objective on the stock in a report on Thursday, March 22nd. JPMorgan Chase & Co. set a $70.00 target price on Plexus and gave the company a “hold” rating in a report on Friday, March 16th. BidaskClub raised Plexus from a “hold” rating to a “buy” rating in a report on Saturday, May 5th. TheStreet raised Plexus from a “c+” rating to a “b” rating in a report on Wednesday, April 25th. Finally, ValuEngine lowered Plexus from a “buy” rating to a “hold” rating in a report on Saturday, June 2nd.

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In other Plexus news, VP Ronnie Darroch sold 1,900 shares of the firm’s stock in a transaction that occurred on Friday, May 11th. The stock was sold at an average price of $59.22, for a total value of $112,518.00. Following the sale, the vice president now owns 9,918 shares of the company’s stock, valued at approximately $587,343.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director David J. Drury sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, June 1st. The shares were sold at an average price of $58.66, for a total value of $293,300.00. Following the completion of the sale, the director now directly owns 13,500 shares in the company, valued at approximately $791,910. The disclosure for this sale can be found here. Company insiders own 3.70% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PLXS. Aperio Group LLC lifted its position in shares of Plexus by 16.8% in the 4th quarter. Aperio Group LLC now owns 14,762 shares of the technology company’s stock worth $896,000 after acquiring an additional 2,120 shares during the period. Teacher Retirement System of Texas bought a new stake in shares of Plexus in the 4th quarter worth approximately $702,000. California Public Employees Retirement System lifted its position in shares of Plexus by 2.7% in the 4th quarter. California Public Employees Retirement System now owns 89,134 shares of the technology company’s stock worth $5,412,000 after acquiring an additional 2,340 shares during the period. First Trust Advisors LP lifted its position in shares of Plexus by 5.4% in the 4th quarter. First Trust Advisors LP now owns 32,575 shares of the technology company’s stock worth $1,978,000 after acquiring an additional 1,673 shares during the period. Finally, Wells Fargo & Company MN lifted its position in shares of Plexus by 18.7% in the 4th quarter. Wells Fargo & Company MN now owns 64,672 shares of the technology company’s stock worth $3,927,000 after acquiring an additional 10,193 shares during the period. 96.43% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ PLXS opened at $61.66 on Monday. The company has a current ratio of 1.85, a quick ratio of 1.00 and a debt-to-equity ratio of 0.03. The stock has a market cap of $2.03 billion, a PE ratio of 19.03 and a beta of 0.84. Plexus has a 52 week low of $49.20 and a 52 week high of $66.78.

Plexus (NASDAQ:PLXS) last issued its quarterly earnings data on Wednesday, April 25th. The technology company reported $0.74 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.74. The business had revenue of $699.00 million for the quarter, compared to analyst estimates of $691.05 million. Plexus had a positive return on equity of 10.96% and a negative net margin of 1.19%. The firm’s revenue for the quarter was up 15.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.84 EPS. research analysts expect that Plexus will post 3.21 earnings per share for the current year.

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 product conceptualization solutions; and product design and value-engineering solutions, including program management, feasibility studies, specification development for product features and functionality, circuit design, field programmable gate array design, printed circuit board layout, embedded software design, mechanical design, test specifications development and product verification testing, and automated production solutions and complex automation design.