Plexus Corp. (NASDAQ:PLXS) Given Consensus Recommendation of “Buy” by Analysts

Shares of Plexus Corp. (NASDAQ:PLXSGet Rating) have earned an average rating of “Buy” from the eight ratings firms that are covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $98.12.

A number of equities analysts have recently issued reports on the company. Needham & Company LLC cut their price objective on Plexus from $95.00 to $90.00 and set a “buy” rating for the company in a report on Friday, January 28th. StockNews.com assumed coverage on Plexus in a report on Thursday, March 31st. They issued a “hold” rating for the company. Zacks Investment Research upgraded Plexus from a “strong sell” rating to a “hold” rating and set a $88.00 price objective for the company in a report on Wednesday, March 30th. Finally, TheStreet cut Plexus from a “b” rating to a “c+” rating in a report on Thursday, February 24th.

In other news, CAO Angelo Michael Ninivaggi, Jr. sold 1,200 shares of the stock in a transaction that occurred on Monday, May 2nd. The stock was sold at an average price of $80.66, for a total value of $96,792.00. Following the completion of the transaction, the chief accounting officer now owns 32,760 shares of the company’s stock, valued at approximately $2,642,421.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Steven J. Frisch sold 3,500 shares of the stock in a transaction that occurred on Tuesday, May 10th. The stock was sold at an average price of $82.13, for a total value of $287,455.00. Following the completion of the transaction, the insider now directly owns 56,666 shares of the company’s stock, valued at approximately $4,653,978.58. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,801 shares of company stock valued at $721,475. Company insiders own 2.17% of the company’s stock.

Several large investors have recently made changes to their positions in PLXS. Quadrant Capital Group LLC increased its position in Plexus by 51.2% during the 4th quarter. Quadrant Capital Group LLC now owns 384 shares of the technology company’s stock valued at $37,000 after buying an additional 130 shares in the last quarter. Pinebridge Investments L.P. bought a new position in Plexus during the 4th quarter valued at approximately $77,000. Johnson Financial Group Inc. bought a new position in Plexus during the 4th quarter valued at approximately $79,000. Point72 Hong Kong Ltd bought a new position in Plexus during the 3rd quarter valued at approximately $85,000. Finally, Eaton Vance Management increased its position in Plexus by 11.3% during the 4th quarter. Eaton Vance Management now owns 1,982 shares of the technology company’s stock valued at $98,000 after buying an additional 202 shares in the last quarter. 94.92% of the stock is owned by hedge funds and other institutional investors.

NASDAQ PLXS traded up $1.09 during trading on Friday, reaching $82.17. The company’s stock had a trading volume of 86,398 shares, compared to its average volume of 114,973. The stock has a market capitalization of $2.28 billion, a PE ratio of 21.18 and a beta of 1.10. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.47 and a quick ratio of 0.64. The firm has a fifty day moving average of $81.48 and a 200 day moving average of $85.53. Plexus has a one year low of $72.88 and a one year high of $101.17.

Plexus (NASDAQ:PLXSGet Rating) last announced its earnings results on Wednesday, April 27th. The technology company reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.12. Plexus had a return on equity of 11.05% and a net margin of 3.31%. The business had revenue of $888.70 million for the quarter, compared to analyst estimates of $839.76 million. During the same period in the prior year, the company earned $1.49 EPS. The company’s quarterly revenue was up .9% compared to the same quarter last year. Research analysts expect that Plexus will post 4.1 earnings per share for the current fiscal year.

About Plexus (Get Rating)

Plexus Corp., together with its subsidiaries, provides electronic manufacturing services in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. It offers design and development, supply chain, new product introduction, and manufacturing solutions, as well as aftermarket services to companies in the healthcare/life sciences, industrial/commercial, aerospace/defense, and communications market sectors.

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Analyst Recommendations for Plexus (NASDAQ:PLXS)

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