Preformed Line Products (NASDAQ:PLPC) Downgraded by StockNews.com to “Buy”

Preformed Line Products (NASDAQ:PLPC) was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued on Tuesday.

Preformed Line Products Stock Performance

Shares of NASDAQ PLPC traded up $2.06 during mid-day trading on Tuesday, hitting $133.71. 13,332 shares of the company were exchanged, compared to its average volume of 26,812. The company has a quick ratio of 1.56, a current ratio of 2.81 and a debt-to-equity ratio of 0.06. The stock has a 50 day simple moving average of $133.77 and a 200-day simple moving average of $128.62. Preformed Line Products has a 1-year low of $109.01 and a 1-year high of $154.90. The firm has a market cap of $654.91 million, a price-to-earnings ratio of 20.08 and a beta of 0.63.

Institutional Investors Weigh In On Preformed Line Products

Several hedge funds have recently modified their holdings of PLPC. Truvestments Capital LLC acquired a new stake in shares of Preformed Line Products during the third quarter worth $103,000. SG Americas Securities LLC lifted its holdings in shares of Preformed Line Products by 13.1% during the fourth quarter. SG Americas Securities LLC now owns 1,053 shares of the technology company’s stock worth $135,000 after purchasing an additional 122 shares during the period. Wells Fargo & Company MN lifted its holdings in Preformed Line Products by 28.7% in the fourth quarter. Wells Fargo & Company MN now owns 1,409 shares of the technology company’s stock valued at $180,000 after acquiring an additional 314 shares during the period. BNP Paribas Financial Markets lifted its holdings in Preformed Line Products by 13.1% in the third quarter. BNP Paribas Financial Markets now owns 2,371 shares of the technology company’s stock valued at $304,000 after acquiring an additional 274 shares during the period. Finally, Quest Partners LLC lifted its holdings in Preformed Line Products by 62.4% in the third quarter. Quest Partners LLC now owns 2,554 shares of the technology company’s stock valued at $327,000 after acquiring an additional 981 shares during the period. 41.19% of the stock is owned by institutional investors and hedge funds.

Preformed Line Products Company Profile

Preformed Line Products Company, together with its subsidiaries, designs and manufactures products and systems that are used in the construction and maintenance of overhead, ground-mounted, and underground networks for the energy, telecommunication, cable, data communication, and other industries. The company offers optical ground wire products to support, protect, terminate, and splice transmission and distribution lines, as well as bolted, welded, and compressed connectors for substations; and string hardware products, polymer insulators, wildlife protection, substation fittings, and motion control devices.