Plexus Corp. (PLXS) Sets New 1-Year High at $47.26
Plexus Corp. (NASDAQ:PLXS) hit a new 52-week high on Tuesday . The company traded as high as $47.26 and last traded at $46.82, with a volume of 55,264 shares. The stock had previously closed at $46.51.
A number of equities research analysts have recently weighed in on PLXS shares. Citigroup Inc. boosted their price objective on shares of Plexus Corp. from $45.00 to $50.00 and gave the stock a “neutral” rating in a report on Thursday, June 9th. B. Riley restated a “buy” rating and issued a $50.00 price objective on shares of Plexus Corp. in a report on Monday, June 6th. Zacks Investment Research lowered shares of Plexus Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, May 4th. Needham & Company LLC upped their price target on shares of Plexus Corp. to $50.00 in a report on Thursday, June 9th. Finally, Royal Bank Of Canada reiterated a “hold” rating and set a $46.00 price target on shares of Plexus Corp. in a report on Friday, June 10th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $47.14.
The company has a market cap of $1.56 billion and a price-to-earnings ratio of 19.73. The stock’s 50-day moving average price is $45.57 and its 200 day moving average price is $41.67.
Plexus Corp. (NASDAQ:PLXS) last issued its quarterly earnings results on Wednesday, July 20th. The company reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.05. During the same quarter in the prior year, the business earned $0.69 earnings per share. The company earned $667.60 million during the quarter, compared to the consensus estimate of $655.37 million. The firm’s quarterly revenue was down .3% compared to the same quarter last year. On average, analysts predict that Plexus Corp. will post $2.64 earnings per share for the current year.
In other news, insider Ronnie Darroch sold 1,097 shares of Plexus Corp. stock in a transaction on Monday, August 15th. The stock was sold at an average price of $46.54, for a total transaction of $51,054.38. Following the completion of the sale, the insider now directly owns 722 shares in the company, valued at $33,601.88. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Angelo Michael Ninivaggi, Jr. sold 2,250 shares of Plexus Corp. 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 sale, the chief accounting officer now owns 11,837 shares of the company’s stock, valued at $543,791.78. The disclosure for this sale can be found here.
Several hedge funds have added to or reduced their stakes in PLXS. Dimensional Fund Advisors LP increased its stake in Plexus Corp. by 10.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,893,503 shares of the company’s stock valued at $66,122,000 after buying an additional 172,711 shares during the period. Jennison Associates LLC increased its stake in Plexus Corp. by 58.7% in the fourth quarter. Jennison Associates LLC now owns 47,053 shares of the company’s stock valued at $1,643,000 after buying an additional 17,410 shares during the last quarter. Finally, Wells Fargo & Company MN increased its stake in Plexus Corp. by 0.7% in the fourth quarter. Wells Fargo & Company MN now owns 259,983 shares of the company’s stock valued at $9,079,000 after buying an additional 1,897 shares during the last quarter.
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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