Plexus Corp.’s (PLXS) Hold Rating Reiterated at Stifel Nicolaus

Plexus Corp. (NASDAQ:PLXS)‘s stock had its “hold” rating restated by equities researchers at Stifel Nicolaus in a research note issued on Tuesday. They presently have a $54.00 price objective on the technology company’s stock. Stifel Nicolaus’ price objective would indicate a potential upside of 3.39% from the stock’s current price.

Other equities research analysts also recently issued research reports about the company. ValuEngine downgraded Plexus Corp. from a “buy” rating to a “hold” rating in a report on Friday, July 14th. BidaskClub downgraded Plexus Corp. from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 16th. Zacks Investment Research downgraded Plexus Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. Deutsche Bank AG upped their price objective on Plexus Corp. from $50.00 to $54.00 and gave the company a “hold” rating in a report on Friday, July 21st. Finally, J P Morgan Chase & Co upgraded Plexus Corp. from a “neutral” rating to an “overweight” rating and set a $62.00 price objective for the company in a report on Monday, August 28th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company’s stock. Plexus Corp. currently has a consensus rating of “Hold” and a consensus target price of $57.88.

Plexus Corp. (PLXS) traded up 0.50% on Tuesday, reaching $52.49. The company had a trading volume of 6,570 shares. The company has a market capitalization of $1.76 billion, a price-to-earnings ratio of 17.72 and a beta of 0.94. The company’s 50 day moving average price is $51.87 and its 200-day moving average price is $53.42. Plexus Corp. has a 12 month low of $44.35 and a 12 month high of $58.74.

Plexus Corp. (NASDAQ:PLXS) last issued its quarterly earnings results on Wednesday, July 19th. The technology company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.02. The business had revenue of $618.80 million for the quarter, compared to analyst estimates of $608.95 million. Plexus Corp. had a return on equity of 10.76% and a net margin of 4.07%. The firm’s revenue for the quarter was down 7.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.82 earnings per share. On average, equities analysts predict that Plexus Corp. will post $3.22 earnings per share for the current fiscal year.

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In other Plexus Corp. news, CAO Angelo Michael Ninivaggi, Jr. sold 8,750 shares of the stock in a transaction dated Monday, August 21st. The stock was sold at an average price of $49.38, for a total value of $432,075.00. Following the completion of the sale, the chief accounting officer now directly owns 17,009 shares in the company, valued at $839,904.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Angelo Michael Ninivaggi, Jr. sold 10,350 shares of the stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $49.46, for a total value of $511,911.00. Following the completion of the sale, the chief accounting officer now owns 17,009 shares of the company’s stock, valued at $841,265.14. The disclosure for this sale can be found here. Insiders sold 90,580 shares of company stock valued at $4,862,392 over the last 90 days. Corporate insiders own 4.30% of the company’s stock.

Several institutional investors have recently made changes to their positions in the business. Neuberger Berman Group LLC increased its holdings in shares of Plexus Corp. by 0.8% in the second quarter. Neuberger Berman Group LLC now owns 3,834 shares of the technology company’s stock worth $202,000 after acquiring an additional 31 shares in the last quarter. 1st Global Advisors Inc. increased its holdings in shares of Plexus Corp. by 0.9% in the first quarter. 1st Global Advisors Inc. now owns 4,764 shares of the technology company’s stock worth $275,000 after acquiring an additional 42 shares in the last quarter. Amalgamated Bank increased its holdings in shares of Plexus Corp. by 1.4% in the second quarter. Amalgamated Bank now owns 4,582 shares of the technology company’s stock worth $241,000 after acquiring an additional 65 shares in the last quarter. Suntrust Banks Inc. increased its holdings in shares of Plexus Corp. by 1.3% in the second quarter. Suntrust Banks Inc. now owns 5,440 shares of the technology company’s stock worth $285,000 after acquiring an additional 69 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in shares of Plexus Corp. by 1.5% in the second quarter. PNC Financial Services Group Inc. now owns 6,228 shares of the technology company’s stock worth $328,000 after acquiring an additional 92 shares in the last quarter. Institutional investors own 94.51% of the company’s stock.

Plexus Corp. Company Profile

Plexus Corp. (Plexus) and its subsidiaries are engaged in the electronic manufacturing services (EMS) industry. The Company delivers end-to-end solutions for customers in the Americas (AMER), Europe, Middle East, and Africa (EMEA) and Asia-Pacific (APAC) regions. The Company’s segments are AMER, APAC and EMEA.

Analyst Recommendations for Plexus Corp. (NASDAQ:PLXS)

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