Northland Securities Reiterates $60.00 Price Target for Plantronics (PLT)
Plantronics (NYSE:PLT) has been given a $60.00 target price by stock analysts at Northland Securities in a research report issued to clients and investors on Friday. The brokerage presently has a “buy” rating on the technology company’s stock. Northland Securities’ price objective indicates a potential upside of 10.38% from the company’s current price.
PLT has been the subject of a number of other research reports. Sidoti upgraded Plantronics from a “neutral” rating to a “buy” rating and set a $60.00 target price for the company in a report on Tuesday, January 2nd. Zacks Investment Research upgraded Plantronics from a “sell” rating to a “hold” rating in a report on Tuesday, October 3rd. TheStreet upgraded Plantronics from a “c+” rating to a “b” rating in a report on Friday, November 24th. Finally, Roth Capital set a $55.00 target price on Plantronics and gave the company a “buy” rating in a report on Wednesday, November 1st. One analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. Plantronics presently has an average rating of “Hold” and an average price target of $58.75.
Plantronics (NYSE:PLT) opened at $54.36 on Friday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 5.90 and a current ratio of 6.44. The company has a market capitalization of $1,770.00, a P/E ratio of 22.28, a P/E/G ratio of 1.64 and a beta of 1.31. Plantronics has a twelve month low of $41.28 and a twelve month high of $58.27.
In related news, Director John Hart sold 21,083 shares of the company’s stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $52.56, for a total value of $1,108,122.48. Following the sale, the director now directly owns 11,094 shares of the company’s stock, valued at $583,100.64. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Joseph B. Burton sold 3,188 shares of the company’s stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $51.87, for a total value of $165,361.56. Following the completion of the sale, the chief executive officer now directly owns 92,373 shares in the company, valued at $4,791,387.51. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 27,145 shares of company stock worth $1,420,777. 3.20% of the stock is owned by insiders.
A number of hedge funds have recently modified their holdings of PLT. Acrospire Investment Management LLC purchased a new stake in Plantronics in the second quarter worth $126,000. Riverhead Capital Management LLC grew its stake in Plantronics by 85.5% in the second quarter. Riverhead Capital Management LLC now owns 2,597 shares of the technology company’s stock worth $136,000 after purchasing an additional 1,197 shares during the period. Victory Capital Management Inc. grew its stake in shares of Plantronics by 17.6% in the second quarter. Victory Capital Management Inc. now owns 3,304 shares of the technology company’s stock worth $173,000 after acquiring an additional 494 shares during the last quarter. Neuberger Berman Group LLC grew its stake in shares of Plantronics by 0.8% in the second quarter. Neuberger Berman Group LLC now owns 3,839 shares of the technology company’s stock worth $201,000 after acquiring an additional 31 shares during the last quarter. Finally, M&T Bank Corp grew its stake in shares of Plantronics by 13.9% in the second quarter. M&T Bank Corp now owns 4,484 shares of the technology company’s stock worth $235,000 after acquiring an additional 546 shares during the last quarter. 90.89% of the stock is currently owned by institutional investors.
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Plantronics Company Profile
Plantronics, Inc (Plantronics) is engaged in the design, manufacture, and distribution of headsets for business and consumer applications, and other specialty products for the hearing impaired. The Company is a global designer, manufacturer and marketer of communications headsets, telephone headset systems, other communication endpoints and accessories for the business and consumer markets.
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