Preformed Line Products (NASDAQ:PLPC) Raised to Strong-Buy at StockNews.com

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

Preformed Line Products Price Performance

Shares of PLPC opened at $134.95 on Tuesday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.56 and a current ratio of 2.81. The firm’s 50-day simple moving average is $125.87 and its two-hundred day simple moving average is $125.29. Preformed Line Products has a fifty-two week low of $109.01 and a fifty-two week high of $142.91. The stock has a market cap of $661.26 million, a PE ratio of 19.91 and a beta of 0.62.

Preformed Line Products (NASDAQ:PLPC) last posted its quarterly earnings results on Wednesday, October 30th. The technology company reported $1.54 EPS for the quarter. Preformed Line Products had a net margin of 5.76% and a return on equity of 7.88%. The firm had revenue of $146.97 million for the quarter.

Hedge Funds Weigh In On Preformed Line Products

Institutional investors and hedge funds have recently made changes to their positions in the business. BNP Paribas Financial Markets grew its position in shares of Preformed Line Products by 29.0% during the 1st quarter. BNP Paribas Financial Markets now owns 3,231 shares of the technology company’s stock valued at $416,000 after acquiring an additional 726 shares during the period. Russell Investments Group Ltd. grew its stake in shares of Preformed Line Products by 6.8% during the 1st quarter. Russell Investments Group Ltd. now owns 4,003 shares of the technology company’s stock valued at $515,000 after acquiring an additional 254 shares during the period. Vanguard Group Inc. increased its holdings in Preformed Line Products by 5.0% in the 1st quarter. Vanguard Group Inc. now owns 73,040 shares of the technology company’s stock worth $9,398,000 after acquiring an additional 3,489 shares in the last quarter. Mather Group LLC. purchased a new position in Preformed Line Products during the second quarter valued at approximately $64,000. Finally, Cardinal Capital Management boosted its position in shares of Preformed Line Products by 13.4% in the second quarter. Cardinal Capital Management now owns 9,255 shares of the technology company’s stock worth $1,153,000 after purchasing an additional 1,097 shares during the period. Hedge funds and other institutional investors own 41.19% of the company’s stock.

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.