Plexus (NASDAQ:PLXS) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of Plexus (NASDAQ:PLXS) from a hold rating to a buy rating in a research note published on Tuesday.

Several other analysts have also issued reports on PLXS. Benchmark upped their target price on Plexus from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Needham & Company LLC upped their price objective on Plexus from $144.00 to $162.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Finally, KeyCorp assumed coverage on Plexus in a report on Tuesday, October 22nd. They issued a “sector weight” rating for the company. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Plexus presently has an average rating of “Moderate Buy” and a consensus price target of $133.50.

Plexus Trading Up 2.0 %

NASDAQ PLXS opened at $147.01 on Tuesday. The stock has a market capitalization of $4.00 billion, a price-to-earnings ratio of 36.66 and a beta of 0.89. Plexus has a 52 week low of $90.18 and a 52 week high of $153.60. The stock’s 50 day moving average price is $132.42 and its two-hundred day moving average price is $117.47. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.71 and a current ratio of 1.51.

Plexus (NASDAQ:PLXS) last announced its earnings results on Wednesday, October 23rd. The technology company reported $1.85 EPS for the quarter, topping the consensus estimate of $1.55 by $0.30. Plexus had a net margin of 2.82% and a return on equity of 9.51%. The business had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter in the prior year, the company posted $1.44 earnings per share. The firm’s revenue was up 2.6% on a year-over-year basis. As a group, analysts anticipate that Plexus will post 6.2 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Steven J. Frisch sold 6,048 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $123.99, for a total value of $749,891.52. Following the sale, the insider now owns 30,070 shares in the company, valued at approximately $3,728,379.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Victor (Pang Hau) Tan sold 1,000 shares of Plexus stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $127.50, for a total transaction of $127,500.00. Following the completion of the sale, the insider now owns 8,605 shares of the company’s stock, valued at approximately $1,097,137.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Steven J. Frisch sold 6,048 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $123.99, for a total transaction of $749,891.52. Following the completion of the transaction, the insider now directly owns 30,070 shares in the company, valued at approximately $3,728,379.30. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,706 shares of company stock valued at $2,486,106 over the last three months. Insiders own 2.39% of the company’s stock.

Institutional Investors Weigh In On Plexus

Institutional investors have recently made changes to their positions in the company. BNP Paribas Financial Markets boosted its stake in Plexus by 13.8% in the 1st quarter. BNP Paribas Financial Markets now owns 25,424 shares of the technology company’s stock valued at $2,411,000 after purchasing an additional 3,087 shares during the period. Capstone Investment Advisors LLC acquired a new position in shares of Plexus in the first quarter valued at about $216,000. Farrow Financial Inc. increased its position in Plexus by 7.3% during the first quarter. Farrow Financial Inc. now owns 21,370 shares of the technology company’s stock worth $2,026,000 after acquiring an additional 1,446 shares during the period. Texas Permanent School Fund Corp raised its stake in Plexus by 1.8% in the 1st quarter. Texas Permanent School Fund Corp now owns 24,166 shares of the technology company’s stock worth $2,291,000 after purchasing an additional 426 shares in the last quarter. Finally, Quantbot Technologies LP bought a new stake in Plexus in the 1st quarter valued at about $533,000. Institutional investors own 94.45% of the company’s stock.

About Plexus

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.