Plexus (PLXS) Rating Lowered to Strong Sell at BidaskClub

BidaskClub cut shares of Plexus (NASDAQ:PLXS) from a sell rating to a strong sell rating in a research report released on Thursday.

Several other equities analysts have also issued reports on the company. ValuEngine lowered Plexus from a buy rating to a hold rating in a research note on Thursday, September 27th. Needham & Company LLC reiterated a buy rating and issued a $70.00 target price on shares of Plexus in a research note on Friday, July 20th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. Plexus presently has an average rating of Hold and a consensus target price of $69.25.

PLXS stock opened at $55.44 on Thursday. The company has a quick ratio of 1.05, a current ratio of 2.11 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $1.89 billion, a P/E ratio of 17.11 and a beta of 0.67. Plexus has a 1-year low of $53.21 and a 1-year high of $66.78.

Plexus (NASDAQ:PLXS) last released its quarterly earnings data on Wednesday, July 18th. The technology company reported $0.79 earnings per share for the quarter, missing the consensus estimate of $0.82 by ($0.03). Plexus had a negative net margin of 1.11% and a positive return on equity of 11.37%. The firm had revenue of $726.39 million during the quarter, compared to the consensus estimate of $721.08 million. During the same quarter in the previous year, the firm earned $0.74 earnings per share. The business’s revenue was up 17.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Plexus will post 3.15 EPS for the current fiscal year.

In other Plexus news, Chairman Dean A. Foate sold 10,000 shares of Plexus stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $63.07, for a total value of $630,700.00. Following the transaction, the chairman now owns 282,640 shares in the company, valued at $17,826,104.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Todd P. Kelsey sold 14,250 shares of Plexus stock in a transaction dated Monday, July 23rd. The shares were sold at an average price of $61.22, for a total value of $872,385.00. Following the completion of the transaction, the chief executive officer now owns 75,031 shares in the company, valued at approximately $4,593,397.82. The disclosure for this sale can be found here. Insiders sold 122,830 shares of company stock worth $7,596,700 in the last quarter. 3.70% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Foundry Partners LLC grew its stake in shares of Plexus by 14.0% during the second quarter. Foundry Partners LLC now owns 6,725 shares of the technology company’s stock worth $400,000 after acquiring an additional 825 shares during the last quarter. Great West Life Assurance Co. Can grew its stake in shares of Plexus by 2.2% during the first quarter. Great West Life Assurance Co. Can now owns 43,519 shares of the technology company’s stock worth $2,600,000 after acquiring an additional 945 shares during the last quarter. Legal & General Group Plc grew its stake in shares of Plexus by 2.7% during the second quarter. Legal & General Group Plc now owns 84,714 shares of the technology company’s stock worth $5,043,000 after acquiring an additional 2,194 shares during the last quarter. Xact Kapitalforvaltning AB grew its stake in shares of Plexus by 62.2% during the first quarter. Xact Kapitalforvaltning AB now owns 5,737 shares of the technology company’s stock worth $343,000 after acquiring an additional 2,200 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its stake in shares of Plexus by 281.1% during the first quarter. Envestnet Asset Management Inc. now owns 3,224 shares of the technology company’s stock worth $185,000 after acquiring an additional 2,378 shares during the last quarter. Institutional investors own 97.29% of the company’s stock.

Plexus Company Profile

Plexus Corp., together with its subsidiaries, provides electronic manufacturing services in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. It offers product conceptualization solutions; and product design and value-engineering solutions, including program management, feasibility studies, specification development for product features and functionality, circuit design, field programmable gate array design, printed circuit board layout, embedded software design, mechanical design, test specifications development and product verification testing, and automated production solutions and complex automation design.

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