Somewhat Positive News Coverage Somewhat Unlikely to Affect Plexus Corp. (PLXS) Stock Price
News articles about Plexus Corp. (NASDAQ:PLXS) have trended somewhat positive on Saturday, according to Accern. The research group identifies negative and positive press coverage by analyzing more than 20 million blog and news sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Plexus Corp. earned a news sentiment score of 0.14 on Accern’s scale. Accern also gave news coverage about the technology company an impact score of 46.0528971862521 out of 100, indicating that recent press coverage is somewhat unlikely to have an impact on the company’s share price in the next several days.
Plexus Corp. (NASDAQ PLXS) traded down 1.14% during midday trading on Friday, reaching $50.40. 188,009 shares of the company’s stock were exchanged. The stock’s 50-day moving average is $52.96 and its 200-day moving average is $54.12. The stock has a market capitalization of $1.69 billion, a price-to-earnings ratio of 17.02 and a beta of 0.93. Plexus Corp. has a 12-month low of $44.35 and a 12-month high of $58.74.
Plexus Corp. (NASDAQ:PLXS) last released its quarterly earnings data on Wednesday, July 19th. The technology company reported $0.74 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.02. The firm had revenue of $618.80 million for the quarter, compared to analyst estimates of $608.95 million. Plexus Corp. had a net margin of 4.07% and a return on equity of 10.76%. The business’s quarterly revenue was down 7.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.82 earnings per share. On average, equities analysts forecast that Plexus Corp. will post $3.22 earnings per share for the current year.
Several brokerages recently weighed in on PLXS. BidaskClub downgraded shares of Plexus Corp. from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Zacks Investment Research downgraded shares of Plexus Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. Citigroup Inc. raised their price target on shares of Plexus Corp. from $56.00 to $59.00 and gave the company a “neutral” rating in a research report on Friday, July 21st. Deutsche Bank AG raised their price target on shares of Plexus Corp. from $50.00 to $54.00 and gave the company a “hold” rating in a research report on Friday, July 21st. Finally, Stifel Nicolaus reissued a “hold” rating and set a $54.00 price target (up previously from $50.00) on shares of Plexus Corp. in a research report on Friday, July 21st. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $58.25.
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In other news, Chairman Dean A. Foate sold 13,500 shares of the stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $54.94, for a total value of $741,690.00. Following the sale, the chairman now owns 247,642 shares in the company, valued at $13,605,451.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Ronnie Darroch sold 26,757 shares of the stock in a transaction on Monday, July 24th. The stock was sold at an average price of $54.94, for a total transaction of $1,470,029.58. Following the completion of the sale, the vice president now owns 9,397 shares in the company, valued at approximately $516,271.18. The disclosure for this sale can be found here. Insiders sold 80,106 shares of company stock worth $4,373,206 in the last quarter. Company insiders own 4.30% of the company’s stock.
Plexus Corp. Company Profile
Plexus Corp. (Plexus) and its subsidiaries are engaged in the electronic manufacturing services (EMS) industry. The Company 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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