Plexus Corp. (PLXS) Stock Rating Upgraded by ValuEngine

Plexus Corp. (NASDAQ:PLXS) was upgraded by investment analysts at ValuEngine from a “hold” rating to a “buy” rating in a research report issued on Friday.

Several other equities analysts also recently commented on the stock. J P Morgan Chase & Co raised shares of Plexus Corp. from a “neutral” rating to an “overweight” rating and set a $62.00 target price on the stock in a research report on Monday, August 28th. BidaskClub downgraded shares of Plexus Corp. from a “buy” rating to a “hold” rating in a research report on Thursday, June 15th. Deutsche Bank AG increased their target price on shares of Plexus Corp. from $50.00 to $54.00 and gave the stock a “hold” rating in a research report on Friday, July 21st. Zacks Investment Research raised shares of Plexus Corp. from a “sell” rating to a “hold” rating in a research report on Wednesday, June 21st. Finally, Citigroup Inc. increased their target price on shares of Plexus Corp. from $56.00 to $59.00 and gave the stock a “neutral” rating in a research report on Friday, July 21st. Two research analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the stock. Plexus Corp. has an average rating of “Hold” and an average target price of $57.88.

Plexus Corp. (NASDAQ PLXS) traded up 1.52% during midday trading on Friday, reaching $55.30. The company’s stock had a trading volume of 130,652 shares. Plexus Corp. has a 12 month low of $44.35 and a 12 month high of $58.74. The stock’s 50-day moving average price is $51.64 and its 200-day moving average price is $53.24. The firm has a market capitalization of $1.86 billion, a price-to-earnings ratio of 18.67 and a beta of 0.94.

Plexus Corp. (NASDAQ:PLXS) last posted its earnings results on Wednesday, July 19th. The technology company reported $0.74 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.72 by $0.02. The firm had revenue of $618.80 million for the quarter, compared to the consensus estimate of $608.95 million. Plexus Corp. had a net margin of 4.07% and a return on equity of 10.76%. The business’s quarterly revenue was down 7.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.82 earnings per share. Analysts predict that Plexus Corp. will post $3.22 EPS for the current year.

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In related news, CEO Todd P. Kelsey sold 11,250 shares of the stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $55.09, for a total value of $619,762.50. Following the completion of the sale, the chief executive officer now owns 57,175 shares in the company, valued at $3,149,770.75. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Angelo Michael Ninivaggi, Jr. sold 10,350 shares of the stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $49.46, for a total transaction of $511,911.00. Following the completion of the sale, the chief accounting officer now owns 17,009 shares of the company’s stock, valued at approximately $841,265.14. The disclosure for this sale can be found here. Insiders have sold 90,580 shares of company stock valued at $4,862,392 over the last 90 days. Corporate insiders own 4.30% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Neuberger Berman Group LLC lifted its stake in shares of Plexus Corp. by 0.8% in the second quarter. Neuberger Berman Group LLC now owns 3,834 shares of the technology company’s stock valued at $202,000 after buying an additional 31 shares during the period. Amalgamated Bank lifted its stake in shares of Plexus Corp. by 1.4% in the second quarter. Amalgamated Bank now owns 4,582 shares of the technology company’s stock valued at $241,000 after buying an additional 65 shares during the period. Suntrust Banks Inc. lifted its stake in shares of Plexus Corp. by 1.3% in the second quarter. Suntrust Banks Inc. now owns 5,440 shares of the technology company’s stock valued at $285,000 after buying an additional 69 shares during the period. PNC Financial Services Group Inc. lifted its stake in shares of Plexus Corp. by 1.5% in the second quarter. PNC Financial Services Group Inc. now owns 6,228 shares of the technology company’s stock valued at $328,000 after buying an additional 92 shares during the period. Finally, Municipal Employees Retirement System of Michigan lifted its stake in shares of Plexus Corp. by 1.2% in the first quarter. Municipal Employees Retirement System of Michigan now owns 12,950 shares of the technology company’s stock valued at $749,000 after buying an additional 150 shares during the period. Institutional investors and hedge funds own 93.93% of the company’s stock.

About Plexus Corp.

Plexus Corp. (Plexus) and its subsidiaries are engaged in the electronic manufacturing services (EMS) industry. The Company delivers end-to-end solutions for customers in the Americas (AMER), Europe, Middle East, and Africa (EMEA) and Asia-Pacific (APAC) regions. The Company’s segments are AMER, APAC and EMEA.

Analyst Recommendations for Plexus Corp. (NASDAQ:PLXS)

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