Analysts Set Plantronics Inc (PLT) Target Price at $60.00
Plantronics Inc (NYSE:PLT) has been given an average recommendation of “Hold” by the seven brokerages that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and two have issued a buy recommendation on the company. The average 12-month target price among brokers that have covered the stock in the last year is $60.00.
PLT has been the subject of several analyst reports. Sidoti raised shares of Plantronics from a “neutral” rating to a “buy” rating and set a $60.00 price target for the company in a report on Tuesday, January 2nd. Northland Securities set a $60.00 price target on shares of Plantronics and gave the company a “buy” rating in a report on Friday, January 12th. TheStreet upgraded shares of Plantronics from a “c+” rating to a “b” rating in a research report on Friday, November 24th. Finally, Roth Capital raised their price objective on shares of Plantronics from $55.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday, January 31st.
Shares of Plantronics (NYSE:PLT) traded down $0.46 during mid-day trading on Friday, reaching $58.26. 37,498 shares of the company traded hands, compared to its average volume of 178,752. Plantronics has a 12-month low of $41.28 and a 12-month high of $60.49. The company has a market cap of $1,955.10, a P/E ratio of 23.64, a P/E/G ratio of 1.56 and a beta of 1.39. The company has a quick ratio of 6.16, a current ratio of 6.76 and a debt-to-equity ratio of 1.50.
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 9th. Shareholders of record on Tuesday, February 20th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.03%. The ex-dividend date was Friday, February 16th. Plantronics’s payout ratio is presently 285.73%.
In other Plantronics news, Director Brian S. Dexheimer sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $58.52, for a total value of $146,300.00. Following the completion of the sale, the director now owns 18,002 shares in the company, valued at approximately $1,053,477.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Joseph B. Burton sold 5,117 shares of Plantronics stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $57.51, for a total transaction of $294,278.67. Following the sale, the chief executive officer now owns 89,685 shares of the company’s stock, valued at approximately $5,157,784.35. The disclosure for this sale can be found here. Insiders sold a total of 8,799 shares of company stock valued at $508,823 in the last 90 days. Corporate insiders own 3.20% of the company’s stock.
Large investors have recently modified their holdings of the company. American International Group Inc. grew its position in shares of Plantronics by 3.1% during the 3rd quarter. American International Group Inc. now owns 91,089 shares of the technology company’s stock worth $4,028,000 after buying an additional 2,775 shares during the period. Schwab Charles Investment Management Inc. grew its position in shares of Plantronics by 7.8% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 311,399 shares of the technology company’s stock worth $15,689,000 after buying an additional 22,414 shares during the period. Bessemer Group Inc. grew its position in shares of Plantronics by 25.9% during the 3rd quarter. Bessemer Group Inc. now owns 38,400 shares of the technology company’s stock worth $1,698,000 after buying an additional 7,900 shares during the period. Shell Asset Management Co. acquired a new position in Plantronics during the fourth quarter valued at approximately $7,920,000. Finally, Dean Investment Associates LLC acquired a new position in Plantronics during the third quarter valued at approximately $2,968,000. Institutional investors own 94.12% of the company’s stock.
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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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