Preformed Line Products (NASDAQ:PLPC) Lowered to “Hold” Rating by Wall Street Zen

Preformed Line Products (NASDAQ:PLPC) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

Separately, Weiss Ratings restated a “buy (b-)” rating on shares of Preformed Line Products in a research note on Monday, December 29th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Preformed Line Products presently has an average rating of “Buy”.

Preformed Line Products Stock Performance

Preformed Line Products stock opened at $235.72 on Friday. Preformed Line Products has a fifty-two week low of $118.99 and a fifty-two week high of $287.96. The company has a market capitalization of $1.16 billion, a PE ratio of 33.01 and a beta of 0.76. The company has a 50 day moving average price of $249.17 and a 200-day moving average price of $221.64. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.84 and a current ratio of 3.09.

Preformed Line Products (NASDAQ:PLPC) last released its quarterly earnings data on Wednesday, March 4th. The technology company reported $1.72 EPS for the quarter, topping the consensus estimate of $1.64 by $0.08. The company had revenue of $173.11 million for the quarter, compared to the consensus estimate of $177.00 million. Preformed Line Products had a return on equity of 9.47% and a net margin of 5.27%.

Institutional Investors Weigh In On Preformed Line Products

Several institutional investors have recently added to or reduced their stakes in the business. Montag A & Associates Inc. purchased a new stake in shares of Preformed Line Products during the third quarter worth about $29,000. Huntington National Bank raised its position in shares of Preformed Line Products by 181.7% in the 3rd quarter. Huntington National Bank now owns 200 shares of the technology company’s stock valued at $39,000 after purchasing an additional 129 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in Preformed Line Products by 2,562.5% in the 3rd quarter. Russell Investments Group Ltd. now owns 213 shares of the technology company’s stock worth $42,000 after purchasing an additional 205 shares in the last quarter. Royal Bank of Canada grew its position in Preformed Line Products by 132.4% during the 4th quarter. Royal Bank of Canada now owns 251 shares of the technology company’s stock worth $52,000 after purchasing an additional 143 shares during the last quarter. Finally, State of Alaska Department of Revenue acquired a new position in Preformed Line Products during the 3rd quarter valued at approximately $51,000. Institutional investors and hedge funds own 41.19% of the company’s stock.

Preformed Line Products Company Profile

Preformed Line Products Company (NASDAQ: PLPC) is a global manufacturer of engineered solutions for electric, telecommunications and industrial infrastructure networks. The company designs, engineers and produces a broad portfolio of products, including preformed wire and cable fittings, anchors, suspension and tension clamps, splice closures and optical fiber hardware. These durable components support the installation, repair and maintenance of overhead and underground systems, helping utilities and contractors manage reliability and safety in demanding environments.

Founded in 1947 and headquartered in Mayfield Village, Ohio, Preformed Line Products operates manufacturing facilities and distribution centers across North America, Europe and the Asia Pacific region.