A number of other equities research analysts also recently weighed in on the stock. Northland Securities initiated coverage on shares of Plantronics in a research note on Thursday, May 28th. They issued a hold rating and a $22.00 price target on the stock. Cowen dropped their price objective on shares of Plantronics from $24.00 to $19.00 and set an outperform rating for the company in a report on Thursday, May 28th. Zacks Investment Research lowered shares of Plantronics from a hold rating to a sell rating in a report on Thursday, July 16th. Finally, Morgan Stanley lowered shares of Plantronics from an equal weight rating to an underweight rating and raised their price objective for the company from $8.00 to $10.00 in a report on Thursday, April 16th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus target price of $14.80.
PLT opened at $19.99 on Wednesday. The company’s 50 day moving average is $15.63 and its 200-day moving average is $15.52. Plantronics has a 1-year low of $4.60 and a 1-year high of $42.44. The company has a current ratio of 1.36, a quick ratio of 1.09 and a debt-to-equity ratio of 2.76. The company has a market cap of $813.19 million, a P/E ratio of -0.95 and a beta of 2.05.
Plantronics (NYSE:PLT) last posted its quarterly earnings results on Tuesday, July 28th. The technology company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.67. Plantronics had a negative net margin of 52.48% and a positive return on equity of 17.30%. The company had revenue of $365.00 million for the quarter, compared to the consensus estimate of $353.03 million. During the same period last year, the company posted $1.32 EPS. The firm’s quarterly revenue was down 18.5% compared to the same quarter last year. On average, equities analysts forecast that Plantronics will post 0.53 EPS for the current year.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Siris Capital Group LLC raised its holdings in Plantronics by 11.8% during the 1st quarter. Siris Capital Group LLC now owns 7,102,201 shares of the technology company’s stock worth $71,448,000 after purchasing an additional 750,000 shares during the last quarter. Primecap Management Co. CA raised its holdings in Plantronics by 17.9% during the 1st quarter. Primecap Management Co. CA now owns 5,956,350 shares of the technology company’s stock worth $59,921,000 after purchasing an additional 905,200 shares during the last quarter. Disciplined Growth Investors Inc. MN raised its holdings in Plantronics by 1.7% during the 1st quarter. Disciplined Growth Investors Inc. MN now owns 2,170,560 shares of the technology company’s stock worth $21,836,000 after purchasing an additional 37,143 shares during the last quarter. Pzena Investment Management LLC bought a new position in Plantronics during the 1st quarter worth approximately $13,692,000. Finally, State Street Corp raised its holdings in Plantronics by 4.8% during the 1st quarter. State Street Corp now owns 1,159,140 shares of the technology company’s stock worth $11,661,000 after purchasing an additional 53,429 shares during the last quarter.
Plantronics Company Profile
Plantronics, Inc designs, manufactures, and markets integrated communications and collaborations solutions for consumers and businesses worldwide. The company offers its communications and collaboration solutions for voice, video, and content sharing, as well as a line of support and services for the workplace under the Polycom brand.
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