Plexus Corp. (NASDAQ:PLXS) Given Average Rating of “Buy” by Brokerages

Shares of Plexus Corp. (NASDAQ:PLXSGet Rating) have been given an average rating of “Buy” by the eight analysts that are currently covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $98.12.

A number of brokerages have recently issued reports on PLXS. TheStreet downgraded Plexus from a “b” rating to a “c+” rating in a report on Thursday, February 24th. Zacks Investment Research raised Plexus from a “strong sell” rating to a “hold” rating and set a $88.00 target price on the stock in a report on Wednesday, March 30th. StockNews.com assumed coverage on Plexus in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Finally, Needham & Company LLC lowered their target price on Plexus from $95.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, January 28th.

Shares of NASDAQ:PLXS traded down $2.43 during midday trading on Friday, reaching $79.12. 2,536 shares of the company’s stock traded hands, compared to its average volume of 140,349. The company has a market cap of $2.22 billion, a price-to-earnings ratio of 20.64 and a beta of 1.10. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.64 and a current ratio of 1.47. Plexus has a one year low of $72.88 and a one year high of $101.17. The stock has a 50 day moving average of $81.45 and a 200 day moving average of $85.63.

Plexus (NASDAQ:PLXSGet Rating) last announced its quarterly earnings results on Wednesday, April 27th. The technology company reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.12. The firm had revenue of $888.70 million for the quarter, compared to the consensus estimate of $839.76 million. Plexus had a return on equity of 11.05% and a net margin of 3.31%. The company’s quarterly revenue was up .9% on a year-over-year basis. During the same period in the prior year, the company posted $1.49 earnings per share. Sell-side analysts predict that Plexus will post 4.1 EPS for the current fiscal year.

In other news, CAO Angelo Michael Ninivaggi, Jr. sold 1,200 shares of the firm’s stock in a transaction dated Monday, May 2nd. The stock was sold at an average price of $80.66, for a total value of $96,792.00. Following the transaction, the chief accounting officer now owns 32,760 shares of the company’s stock, valued at $2,642,421.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Ronnie Darroch sold 1,716 shares of the stock in a transaction dated Thursday, March 3rd. The stock was sold at an average price of $81.87, for a total value of $140,488.92. The disclosure for this sale can be found here. Insiders sold 5,301 shares of company stock worth $434,020 in the last ninety days. Corporate insiders own 2.17% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. Invesco Ltd. grew its position in shares of Plexus by 4.6% during the third quarter. Invesco Ltd. now owns 288,423 shares of the technology company’s stock worth $25,789,000 after purchasing an additional 12,777 shares in the last quarter. Natixis Advisors L.P. grew its position in shares of Plexus by 9.2% during the fourth quarter. Natixis Advisors L.P. now owns 16,772 shares of the technology company’s stock worth $1,608,000 after purchasing an additional 1,414 shares in the last quarter. StrategIQ Financial Group LLC purchased a new stake in shares of Plexus during the fourth quarter worth about $575,000. Maryland State Retirement & Pension System grew its position in shares of Plexus by 1.3% during the fourth quarter. Maryland State Retirement & Pension System now owns 11,262 shares of the technology company’s stock worth $1,080,000 after purchasing an additional 146 shares in the last quarter. Finally, IndexIQ Advisors LLC grew its position in shares of Plexus by 11.1% during the third quarter. IndexIQ Advisors LLC now owns 4,895 shares of the technology company’s stock worth $438,000 after purchasing an additional 490 shares in the last quarter. Hedge funds and other institutional investors own 94.92% of the company’s stock.

About Plexus (Get Rating)

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 to companies in the healthcare/life sciences, industrial/commercial, aerospace/defense, and communications market sectors.

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Analyst Recommendations for Plexus (NASDAQ:PLXS)

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