Preformed Line Products (PLPC) Downgraded by BidaskClub to “Sell”
Preformed Line Products (NASDAQ:PLPC) was downgraded by research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Friday.
Shares of Preformed Line Products (NASDAQ:PLPC) opened at $61.24 on Friday. The company has a market cap of $311.80, a price-to-earnings ratio of 18.39 and a beta of 1.36. The company has a quick ratio of 2.00, a current ratio of 3.15 and a debt-to-equity ratio of 0.13. Preformed Line Products has a 1-year low of $44.50 and a 1-year high of $85.63.
Preformed Line Products announced that its Board of Directors has approved a stock repurchase program on Thursday, December 14th that authorizes the company to repurchase 250,000 shares. This repurchase authorization authorizes the technology company to buy shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its shares are undervalued.
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About Preformed Line Products
Preformed Line Products Company (PLPC) is a designer and manufacturer of products and systems employed in the construction and maintenance of overhead and underground networks for the energy, telecommunication, cable operators and information industries. The Company’s products include Formed Wire and Related Hardware Products, Protective Closures, Plastic Products and Other Products.
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