Stifel Nicolaus Boosts Plexus (NASDAQ:PLXS) Price Target to $95.00

Plexus (NASDAQ:PLXS) had its price objective boosted by equities researchers at Stifel Nicolaus from $90.00 to $95.00 in a research report issued on Friday, Benzinga reports. The firm currently has a “hold” rating on the technology company’s stock. Stifel Nicolaus’ price objective would indicate a potential downside of 4.78% from the company’s previous close.

A number of other analysts have also weighed in on the stock. Benchmark reiterated a “buy” rating and issued a $110.00 price objective on shares of Plexus in a research note on Wednesday, January 17th. Needham & Company LLC increased their price objective on shares of Plexus from $107.00 to $114.00 and gave the stock a “buy” rating in a research note on Friday. TheStreet lowered shares of Plexus from a “b” rating to a “c+” rating in a research note on Tuesday, February 13th. Finally, Sidoti lowered shares of Plexus from a “buy” rating to a “neutral” rating and set a $112.00 price objective on the stock. in a research note on Tuesday, January 9th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $107.75.

Plexus Stock Performance

Plexus stock traded up $0.68 during mid-day trading on Friday, reaching $99.77. 27,262 shares of the company traded hands, compared to its average volume of 116,765. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.52 and a quick ratio of 0.62. Plexus has a fifty-two week low of $83.84 and a fifty-two week high of $114.06. The company has a market capitalization of $2.75 billion, a price-to-earnings ratio of 27.56 and a beta of 1.02. The firm’s fifty day moving average is $94.38 and its two-hundred day moving average is $98.38.

Plexus (NASDAQ:PLXS) last issued its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.07. Plexus had a net margin of 2.54% and a return on equity of 10.86%. The business had revenue of $966.90 million for the quarter, compared to analyst estimates of $950.75 million. During the same quarter in the prior year, the business posted $1.45 EPS. Plexus’s revenue for the quarter was down 9.7% compared to the same quarter last year. On average, equities research analysts expect that Plexus will post 4.36 earnings per share for the current fiscal year.

Insider Activity at Plexus

In other Plexus news, CEO Todd P. Kelsey sold 2,000 shares of the stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $94.30, for a total transaction of $188,600.00. Following the transaction, the chief executive officer now directly owns 121,859 shares of the company’s stock, valued at $11,491,303.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Plexus news, CEO Todd P. Kelsey sold 2,000 shares of the stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $94.30, for a total transaction of $188,600.00. Following the transaction, the chief executive officer now directly owns 121,859 shares of the company’s stock, valued at $11,491,303.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Patrick John Jermain sold 2,532 shares of the stock in a transaction on Monday, January 29th. The shares were sold at an average price of $92.51, for a total transaction of $234,235.32. Following the transaction, the chief financial officer now directly owns 54,651 shares in the company, valued at $5,055,764.01. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,453 shares of company stock worth $3,112,875. 2.39% of the stock is owned by company insiders.

Hedge Funds Weigh In On Plexus

Several hedge funds and other institutional investors have recently modified their holdings of the business. Inspire Investing LLC lifted its stake in shares of Plexus by 3.6% in the third quarter. Inspire Investing LLC now owns 3,323 shares of the technology company’s stock worth $309,000 after buying an additional 114 shares in the last quarter. Parallel Advisors LLC increased its position in Plexus by 72.3% during the fourth quarter. Parallel Advisors LLC now owns 348 shares of the technology company’s stock worth $38,000 after purchasing an additional 146 shares during the last quarter. Congress Asset Management Co. MA increased its position in Plexus by 1.1% during the first quarter. Congress Asset Management Co. MA now owns 16,273 shares of the technology company’s stock worth $1,543,000 after purchasing an additional 184 shares during the last quarter. Moran Wealth Management LLC increased its position in Plexus by 0.5% during the fourth quarter. Moran Wealth Management LLC now owns 48,809 shares of the technology company’s stock worth $5,278,000 after purchasing an additional 230 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in Plexus by 6.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,267 shares of the technology company’s stock worth $678,000 after purchasing an additional 363 shares during the last quarter. 94.45% of the stock is owned by hedge funds and other institutional investors.

Plexus Company Profile

Plexus Corp. provides electronic manufacturing services in the United States and internationally. It offers design, develop, supply chain, new product introduction, and manufacturing solutions, as well as sustaining services to companies in the healthcare/life sciences, industrial/commercial, aerospace/defense, and communications market sectors.