Plexus Corp. (PLXS) PT Set at $52.00 by Needham & Company LLC
A number of other analysts have also recently commented on PLXS. B. Riley restated a buy rating and issued a $50.00 price objective on shares of Plexus Corp. in a research report on Monday, June 6th. Citigroup Inc. boosted their price objective on Plexus Corp. from $45.00 to $50.00 and gave the company a neutral rating in a research report on Thursday, June 9th. Royal Bank Of Canada restated a hold rating and issued a $46.00 price objective on shares of Plexus Corp. in a research report on Friday, June 10th. Finally, Zacks Investment Research upgraded Plexus Corp. from a hold rating to a buy rating and set a $50.00 price objective for the company in a research report on Friday, July 22nd. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company presently has an average rating of Hold and an average target price of $48.17.
Shares of Plexus Corp. (NASDAQ:PLXS) opened at 46.68 on Friday. Plexus Corp. has a 12 month low of $28.72 and a 12 month high of $47.34. The company has a 50-day moving average price of $46.27 and a 200-day moving average price of $43.09. The company has a market capitalization of $1.56 billion, a P/E ratio of 19.69 and a beta of 1.23.
Plexus Corp. (NASDAQ:PLXS) last posted its quarterly earnings data on Wednesday, July 20th. The company reported $0.82 EPS for the quarter, beating the Zacks’ consensus estimate of $0.77 by $0.05. The business earned $667.60 million during the quarter, compared to analysts’ expectations of $655.37 million. Plexus Corp. had a return on equity of 9.95% and a net margin of 3.16%. The business’s revenue was down .3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.69 earnings per share. On average, analysts forecast that Plexus Corp. will post $2.64 EPS for the current fiscal year.
In other Plexus Corp. news, Chairman Dean A. Foate sold 8,658 shares of the business’s stock in a transaction on Monday, July 25th. The stock was sold at an average price of $45.56, for a total transaction of $394,458.48. Following the transaction, the chairman now owns 188,258 shares of the company’s stock, valued at $8,577,034.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Angelo Michael Ninivaggi, Jr. sold 2,250 shares of the business’s stock in a transaction on Monday, August 1st. The stock was sold at an average price of $45.94, for a total value of $103,365.00. Following the transaction, the chief accounting officer now directly owns 11,837 shares in the company, valued at approximately $543,791.78. The disclosure for this sale can be found here. Corporate insiders own 5.30% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Kempen Capital Management N.V. raised its position in Plexus Corp. by 64.6% in the first quarter. Kempen Capital Management N.V. now owns 3,509 shares of the company’s stock worth $139,000 after buying an additional 1,377 shares during the period. PineBridge Investments L.P. raised its position in shares of Plexus Corp. by 3.7% in the second quarter. PineBridge Investments L.P. now owns 4,229 shares of the company’s stock valued at $183,000 after buying an additional 152 shares during the period. Teacher Retirement System of Texas raised its position in shares of Plexus Corp. by 13.7% in the second quarter. Teacher Retirement System of Texas now owns 4,678 shares of the company’s stock valued at $202,000 after buying an additional 563 shares during the period. ProShare Advisors LLC acquired a new position in shares of Plexus Corp. during the second quarter valued at approximately $209,000. Finally, Bayesian Capital Management LP acquired a new position in shares of Plexus Corp. during the first quarter valued at approximately $216,000. 92.97% of the stock is currently owned by institutional investors.
About Plexus Corp.
Plexus Corp. (Plexus) and its subsidiaries are engaged in the electronic manufacturing services (EMS) industry. Plexus delivers end-to-end solutions for customers in the Americas (AMER); Europe, Middle East and Africa (EMEA), and Asia-Pacific (APAC) regions. The Company’s segments are AMER, APAC and EMEA.
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