Brokerages Set Plantronics Inc (PLT) PT at $60.00

Shares of Plantronics Inc (NYSE:PLT) have been assigned a consensus rating of “Hold” from the six analysts that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price target among analysts that have covered the stock in the last year is $60.00.

A number of equities analysts have commented on the stock. Sidoti raised shares of Plantronics from a “neutral” rating to a “buy” rating in a research report on Wednesday, August 8th. They noted that the move was a valuation call. TheStreet cut shares of Plantronics from a “b-” rating to a “c+” rating in a research report on Friday, September 14th. Zacks Investment Research cut shares of Plantronics from a “hold” rating to a “strong sell” rating in a research report on Wednesday, November 14th. Finally, ValuEngine cut shares of Plantronics from a “buy” rating to a “hold” rating in a research report on Monday, November 12th.

PLT stock traded up $0.79 during midday trading on Friday, reaching $50.94. 361,688 shares of the company were exchanged, compared to its average volume of 793,806. The company has a debt-to-equity ratio of 2.18, a current ratio of 1.57 and a quick ratio of 1.29. Plantronics has a one year low of $46.52 and a one year high of $82.28. The stock has a market cap of $2.00 billion, a price-to-earnings ratio of 18.80 and a beta of 1.09.

Plantronics (NYSE:PLT) last released its quarterly earnings data on Tuesday, November 6th. The technology company reported ($0.16) EPS for the quarter, missing the Zacks’ consensus estimate of $0.89 by ($1.05). Plantronics had a positive return on equity of 20.46% and a negative net margin of 9.75%. The company had revenue of $483.07 million for the quarter, compared to the consensus estimate of $506.32 million. During the same period last year, the firm earned $0.59 earnings per share. The company’s revenue for the quarter was up 129.7% compared to the same quarter last year. Research analysts anticipate that Plantronics will post 1.87 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Tuesday, November 20th will be given a $0.15 dividend. The ex-dividend date of this dividend is Monday, November 19th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.18%. Plantronics’s payout ratio is presently 22.14%.

In other news, CEO Joseph B. Burton sold 4,727 shares of the business’s stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $59.45, for a total value of $281,020.15. Following the completion of the sale, the chief executive officer now owns 123,599 shares of the company’s stock, valued at $7,347,960.55. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last three months, insiders sold 4,820 shares of company stock valued at $286,736. 1.70% of the stock is currently owned by company insiders.

Several institutional investors have recently made changes to their positions in PLT. Point72 Asset Management L.P. bought a new stake in shares of Plantronics in the second quarter valued at about $122,000. Cubist Systematic Strategies LLC bought a new stake in shares of Plantronics in the second quarter valued at about $212,000. Tower Research Capital LLC TRC boosted its position in shares of Plantronics by 95.0% in the third quarter. Tower Research Capital LLC TRC now owns 3,615 shares of the technology company’s stock valued at $218,000 after acquiring an additional 1,761 shares during the period. Burney Co. bought a new stake in shares of Plantronics in the second quarter valued at about $225,000. Finally, Paloma Partners Management Co bought a new stake in shares of Plantronics in the third quarter valued at about $230,000. 77.45% of the stock is owned by institutional investors.

Plantronics Company Profile

Plantronics, Inc designs, manufactures, and markets lightweight communications headsets, telephone headset systems, other communication endpoints, and accessories for the business and consumer markets under the Plantronics brand worldwide. The company's enterprise products include headsets optimized for unified communications and collaboration, other corded and cordless communication headsets, audio processors, and telephone systems; and consumer products comprise Bluetooth and corded products for mobile device applications, personal computers, and gaming headsets.

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