Plantronics, Inc. (NYSE:POLY) Given Average Recommendation of “Hold” by Brokerages

Shares of Plantronics, Inc. (NYSE:POLYGet Rating) have been given a consensus recommendation of “Hold” by the six ratings firms that are currently covering the firm, Marketbeat reports. Five research analysts have rated the stock with a hold recommendation. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $34.25.

A number of brokerages have recently issued reports on POLY. Zacks Investment Research upgraded Plantronics from a “sell” rating to a “hold” rating and set a $32.00 price target on the stock in a report on Monday, January 3rd. TheStreet raised Plantronics from a “d+” rating to a “c-” rating in a research report on Friday, April 22nd. StockNews.com assumed coverage on Plantronics in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Finally, JPMorgan Chase & Co. lowered Plantronics from an “overweight” rating to a “neutral” rating and upped their target price for the company from $33.00 to $40.00 in a research report on Tuesday, March 29th.

Shares of POLY stock traded down $0.08 on Friday, reaching $39.86. 1,211,887 shares of the company’s stock were exchanged, compared to its average volume of 1,959,362. Plantronics has a 52 week low of $22.69 and a 52 week high of $43.40. The company has a current ratio of 1.54, a quick ratio of 1.10 and a debt-to-equity ratio of 141.17. The stock has a market capitalization of $1.71 billion, a PE ratio of 30.20 and a beta of 1.91. The company’s fifty day simple moving average is $33.41 and its 200 day simple moving average is $30.02.

Plantronics (NYSE:POLYGet Rating) last issued its earnings results on Tuesday, February 8th. The company reported $0.32 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.34 by ($0.02). Plantronics had a net margin of 3.44% and a negative return on equity of 212.42%. The firm had revenue of $410.00 million for the quarter, compared to the consensus estimate of $418.59 million. During the same period last year, the firm earned $1.25 earnings per share. The company’s revenue for the quarter was down 16.0% on a year-over-year basis. As a group, sell-side analysts predict that Plantronics will post 1.52 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of the company. Newbridge Financial Services Group Inc. purchased a new position in Plantronics during the fourth quarter worth approximately $25,000. Rational Advisors LLC purchased a new position in Plantronics during the fourth quarter worth approximately $25,000. Advisor Group Holdings Inc. purchased a new position in Plantronics during the fourth quarter worth approximately $48,000. Nisa Investment Advisors LLC purchased a new position in Plantronics during the fourth quarter worth approximately $88,000. Finally, Whittier Trust Co. of Nevada Inc. purchased a new position in Plantronics during the fourth quarter worth approximately $126,000. Hedge funds and other institutional investors own 99.15% of the company’s stock.

About Plantronics (Get Rating)

Plantronics, Inc designs, manufactures, markets, and sells integrated communications and collaborations solutions for corporate customers, small businesses, and individuals in the United States, Europe, the Middle East, Africa, the Asia Pacific, and rest of the Americas. Its principal product categories include headsets, which comprises wired and wireless communication headsets; voice that includes open session initiation protocol and native ecosystem desktop phones, and conference room phones; video conferencing solutions and peripherals, including cameras, speakers, and microphones designed to work with a range of unified communication and collaboration, unified communication as a service, and video as a service environments, including RealPresence collaboration solutions of infrastructure to endpoints that allows people to connect and collaborate; and content sharing solutions.

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