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

Plexus Corp. (NASDAQ:PLXSGet Rating) has received a consensus rating of “Buy” from the eight analysts that are currently covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $98.12.

A number of research analysts recently weighed in on PLXS shares. StockNews.com began coverage on shares of Plexus in a research note on Thursday, March 31st. They set a “hold” rating on the stock. TheStreet cut shares of Plexus from a “b” rating to a “c+” rating in a research report on Thursday, February 24th. Zacks Investment Research upgraded shares of Plexus from a “strong sell” rating to a “hold” rating and set a $88.00 price objective on the stock in a research note on Wednesday, March 30th. Finally, Needham & Company LLC dropped their target price on shares of Plexus from $95.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, January 28th.

PLXS stock opened at $76.86 on Tuesday. The company has a market capitalization of $2.16 billion, a price-to-earnings ratio of 17.67 and a beta of 1.18. The company has a current ratio of 1.58, a quick ratio of 0.71 and a debt-to-equity ratio of 0.18. The firm has a 50 day simple moving average of $81.49. Plexus has a 12-month low of $72.88 and a 12-month high of $101.17.

Plexus (NASDAQ:PLXSGet Rating) last released its earnings results on Wednesday, January 26th. The technology company reported $0.88 EPS for the quarter, missing the Zacks’ consensus estimate of $0.92 by ($0.04). Plexus had a net margin of 3.76% and a return on equity of 12.75%. The firm had revenue of $817.46 million during the quarter, compared to the consensus estimate of $817.30 million. During the same period in the prior year, the company earned $1.23 EPS. On average, equities research analysts anticipate that Plexus will post 3.83 earnings per share for the current year.

In other news, VP Ronnie Darroch sold 1,716 shares of Plexus stock in a transaction dated Thursday, March 3rd. The stock was sold at an average price of $81.87, for a total transaction of $140,488.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.17% of the stock is owned by insiders.

A number of large investors have recently added to or reduced their stakes in PLXS. Invesco Ltd. grew its stake in Plexus by 4.6% in the third quarter. Invesco Ltd. now owns 288,423 shares of the technology company’s stock valued at $25,789,000 after purchasing an additional 12,777 shares in the last quarter. IndexIQ Advisors LLC raised its position in shares of Plexus by 11.1% in the 3rd quarter. IndexIQ Advisors LLC now owns 4,895 shares of the technology company’s stock worth $438,000 after acquiring an additional 490 shares in the last quarter. Smith Graham & Co. Investment Advisors LP grew its stake in shares of Plexus by 10.5% in the 4th quarter. Smith Graham & Co. Investment Advisors LP now owns 47,462 shares of the technology company’s stock valued at $4,551,000 after buying an additional 4,493 shares during the period. Voloridge Investment Management LLC boosted its stake in Plexus by 35.8% during the 3rd quarter. Voloridge Investment Management LLC now owns 18,002 shares of the technology company’s stock valued at $1,610,000 after purchasing an additional 4,748 shares during the last quarter. Finally, ClariVest Asset Management LLC lifted its position in shares of Plexus by 22.5% during the 3rd quarter. ClariVest Asset Management LLC now owns 20,525 shares of the technology company’s stock worth $1,834,000 after buying an additional 3,769 shares in the last quarter. 93.99% of the stock is currently owned by hedge funds and other institutional investors.

Plexus Company Profile (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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