Plexus (NASDAQ:PLXS) Stock Rating Upgraded by Wall Street Zen

Plexus (NASDAQ:PLXS) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Sunday, Wall Street Zen reports.

Several other equities research analysts have also commented on the company. KeyCorp upgraded Plexus from a “sector weight” rating to an “overweight” rating and set a $300.00 price objective for the company in a research note on Monday, September 21st. Sidoti raised Plexus from a “neutral” rating to a “buy” rating and set a $308.00 target price on the stock in a report on Friday, July 31st. Weiss Ratings downgraded Plexus from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, October 23rd. Zacks Research raised Plexus from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 11th. Finally, Needham & Company LLC reissued a “buy” rating and set a $310.00 price target on shares of Plexus in a report on Friday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $276.86.

Plexus Price Performance

Shares of NASDAQ:PLXS opened at $209.42 on Friday. The firm’s 50 day moving average price is $246.14 and its 200-day moving average price is $239.62. Plexus has a twelve month low of $132.03 and a twelve month high of $307.06. The company has a quick ratio of 0.72, a current ratio of 1.49 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $5.60 billion, a PE ratio of 32.26 and a beta of 0.88.

Plexus (NASDAQ:PLXS) last posted its quarterly earnings data on Wednesday, October 28th. The technology company reported $2.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.55 by $0.29. Plexus had a net margin of 4.08% and a return on equity of 13.50%. The company had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter last year, the firm posted $2.14 earnings per share. The firm’s revenue was up 34.9% compared to the same quarter last year. Equities research analysts expect that Plexus will post 8.55 EPS for the current year.

Insiders Place Their Bets

In other news, Director Karen Rapp sold 500 shares of the stock in a transaction on Monday, August 31st. The shares were sold at an average price of $240.87, for a total value of $120,435.00. Following the completion of the sale, the director directly owned 7,535 shares of the company’s stock, valued at $1,814,955.45. This represents a 6.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael V. Schrock sold 4,000 shares of the firm’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $275.00, for a total transaction of $1,100,000.00. Following the sale, the director owned 40,329 shares in the company, valued at $11,090,475. The trade was a 9.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 9,000 shares of company stock worth $2,319,260 over the last three months. 1.78% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of PLXS. Trust Point Inc. boosted its holdings in shares of Plexus by 5.5% during the 2nd quarter. Trust Point Inc. now owns 1,308 shares of the technology company’s stock valued at $393,000 after purchasing an additional 68 shares during the last quarter. Smith Group Asset Management LLC grew its position in shares of Plexus by 1.6% during the third quarter. Smith Group Asset Management LLC now owns 4,536 shares of the technology company’s stock valued at $1,184,000 after purchasing an additional 73 shares in the last quarter. Signaturefd LLC grew its position in shares of Plexus by 6.1% during the third quarter. Signaturefd LLC now owns 1,765 shares of the technology company’s stock valued at $461,000 after purchasing an additional 101 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its position in shares of Plexus by 6.0% during the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 1,858 shares of the technology company’s stock valued at $376,000 after purchasing an additional 105 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Plexus in the second quarter worth about $32,000. Institutional investors own 94.45% of the company’s stock.

Plexus Company Profile

Plexus Corp. is an electronics manufacturing services company that helps customers design, develop, manufacture and service complex electronic products. The company provides an integrated product-realization process spanning engineering and design, supply-chain management, manufacturing, testing, logistics and aftermarket services.

Plexus supports original equipment manufacturers in industries including healthcare and life sciences, industrial and commercial, aerospace and defense, and communications.