Plexus Corp. (NASDAQ:PLXS) Given Average Rating of “Moderate Buy” by Analysts

Plexus Corp. (NASDAQ:PLXS) has been given an average recommendation of “Moderate Buy” by the four brokerages that are currently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $124.00.

Several analysts have issued reports on PLXS shares. Benchmark upped their target price on Plexus from $120.00 to $145.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Needham & Company LLC increased their price objective on Plexus from $114.00 to $144.00 and gave the company a “buy” rating in a research note on Friday, July 26th.

Plexus Stock Down 1.0 %

PLXS stock opened at $131.03 on Monday. The stock has a market cap of $3.59 billion, a price-to-earnings ratio of 36.20 and a beta of 0.89. The company’s 50 day moving average is $122.97 and its 200 day moving average is $109.00. The company has a current ratio of 1.47, a quick ratio of 0.64 and a debt-to-equity ratio of 0.07. Plexus has a 1-year low of $87.21 and a 1-year high of $132.68.

Plexus (NASDAQ:PLXS) last issued its earnings results on Wednesday, July 24th. The technology company reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.17. The business had revenue of $960.70 million during the quarter, compared to analyst estimates of $981.32 million. Plexus had a return on equity of 9.64% and a net margin of 2.82%. Plexus’s revenue for the quarter was down 6.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.32 earnings per share. Sell-side analysts predict that Plexus will post 3.74 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Karen Marie Rapp sold 500 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $128.02, for a total value of $64,010.00. Following the completion of the sale, the director now owns 9,586 shares of the company’s stock, valued at $1,227,199.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Todd P. Kelsey sold 3,000 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $128.40, for a total value of $385,200.00. Following the completion of the sale, the chief executive officer now owns 93,682 shares of the company’s stock, valued at $12,028,768.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Karen Marie Rapp sold 500 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $128.02, for a total value of $64,010.00. Following the completion of the sale, the director now directly owns 9,586 shares of the company’s stock, valued at approximately $1,227,199.72. The disclosure for this sale can be found here. Insiders sold 21,769 shares of company stock valued at $2,731,834 over the last quarter. 2.39% of the stock is owned by company insiders.

Hedge Funds Weigh In On Plexus

A number of institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Plexus by 2.2% in the first quarter. Vanguard Group Inc. now owns 3,515,866 shares of the technology company’s stock worth $333,374,000 after purchasing an additional 74,988 shares in the last quarter. Disciplined Growth Investors Inc. MN raised its holdings in Plexus by 0.3% in the second quarter. Disciplined Growth Investors Inc. MN now owns 2,109,047 shares of the technology company’s stock worth $217,611,000 after purchasing an additional 7,245 shares in the last quarter. Fiduciary Management Inc. WI raised its holdings in Plexus by 3.8% in the fourth quarter. Fiduciary Management Inc. WI now owns 1,226,917 shares of the technology company’s stock worth $132,667,000 after purchasing an additional 44,398 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in Plexus by 8.8% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,079,340 shares of the technology company’s stock worth $111,366,000 after purchasing an additional 87,574 shares in the last quarter. Finally, Earnest Partners LLC raised its holdings in Plexus by 3.0% in the second quarter. Earnest Partners LLC now owns 788,196 shares of the technology company’s stock worth $81,326,000 after purchasing an additional 23,074 shares in the last quarter. Institutional investors own 94.45% of the company’s stock.

Plexus Company Profile

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.