Sidoti upgraded shares of Plantronics (NYSE:PLT) from a neutral rating to a buy rating in a report issued on Tuesday morning, MarketBeat Ratings reports. They currently have $60.00 target price on the technology company’s stock.
PLT has been the topic of several other research reports. Zacks Investment Research raised shares of Plantronics from a sell rating to a hold rating in a research report on Tuesday, October 3rd. Roth Capital set a $55.00 price target on shares of Plantronics and gave the company a buy rating in a research report on Wednesday, November 1st. Finally, TheStreet raised shares of Plantronics from a c+ rating to a b rating in a research report on Friday, November 24th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. The stock has an average rating of Hold and an average target price of $58.00.
Shares of Plantronics (PLT) opened at $53.74 on Tuesday. The company has a market cap of $1,760.00, a P/E ratio of 22.02, a PEG ratio of 1.59 and a beta of 1.31. The company has a current ratio of 6.44, a quick ratio of 5.90 and a debt-to-equity ratio of 1.27. Plantronics has a 12-month low of $41.28 and a 12-month high of $58.27.
In related news, Director John Hart sold 21,083 shares of Plantronics stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $52.56, for a total value of $1,108,122.48. Following the completion of the sale, the director now owns 11,094 shares in the company, valued at approximately $583,100.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Joseph B. Burton sold 3,188 shares of Plantronics stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $51.87, for a total transaction of $165,361.56. Following the completion of the sale, the chief executive officer now owns 92,373 shares of the company’s stock, valued at approximately $4,791,387.51. The disclosure for this sale can be found here. Insiders sold a total of 27,145 shares of company stock valued at $1,420,777 in the last quarter. 3.20% of the stock is owned by insiders.
A number of institutional investors have recently bought and sold shares of PLT. Acrospire Investment Management LLC acquired a new stake in Plantronics in the 2nd quarter valued at approximately $126,000. Riverhead Capital Management LLC increased its holdings in Plantronics by 85.5% in the 2nd quarter. Riverhead Capital Management LLC now owns 2,597 shares of the technology company’s stock valued at $136,000 after purchasing an additional 1,197 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of Plantronics by 17.6% in the second quarter. Victory Capital Management Inc. now owns 3,304 shares of the technology company’s stock worth $173,000 after acquiring an additional 494 shares in the last quarter. Neuberger Berman Group LLC grew its stake in shares of Plantronics by 0.8% in the second quarter. Neuberger Berman Group LLC now owns 3,839 shares of the technology company’s stock worth $201,000 after acquiring an additional 31 shares in the last quarter. Finally, Airain ltd acquired a new position in shares of Plantronics in the second quarter worth $225,000. Hedge funds and other institutional investors own 90.89% of the company’s stock.
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Plantronics, Inc (Plantronics) is engaged in the design, manufacture, and distribution of headsets for business and consumer applications, and other specialty products for the hearing impaired. The Company is a global designer, manufacturer and marketer of communications headsets, telephone headset systems, other communication endpoints and accessories for the business and consumer markets.
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