Plantronics, Inc. (NYSE:POLY) Short Interest Down 27.0% in March

Plantronics, Inc. (NYSE:POLYGet Rating) was the target of a significant decrease in short interest in March. As of March 31st, there was short interest totalling 3,210,000 shares, a decrease of 27.0% from the March 15th total of 4,400,000 shares. Based on an average daily volume of 1,190,000 shares, the short-interest ratio is presently 2.7 days. Currently, 7.6% of the shares of the stock are short sold.

Shares of NYSE POLY traded down $0.04 during mid-day trading on Friday, reaching $40.05. 675,747 shares of the company’s stock were exchanged, compared to its average volume of 3,419,481. The firm has a market capitalization of $1.71 billion, a price-to-earnings ratio of 30.34 and a beta of 1.91. The company has a debt-to-equity ratio of 141.17, a current ratio of 1.54 and a quick ratio of 1.10. Plantronics has a 52-week low of $22.69 and a 52-week high of $43.40. The stock’s 50-day moving average is $31.11.

Plantronics (NYSE:POLYGet Rating) last released its quarterly earnings results on Tuesday, February 8th. The company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.02). The business had revenue of $410.00 million for the quarter, compared to analysts’ expectations of $418.59 million. Plantronics had a negative return on equity of 212.42% and a net margin of 3.44%. The business’s revenue for the quarter was down 16.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.25 earnings per share. On average, sell-side analysts forecast that Plantronics will post 1.52 EPS for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in Plantronics during the 4th quarter worth about $196,331,000. Primecap Management Co. CA acquired a new position in Plantronics during the 4th quarter worth about $185,870,000. Disciplined Growth Investors Inc. MN acquired a new position in Plantronics during the 4th quarter worth about $75,147,000. State Street Corp acquired a new position in Plantronics during the 4th quarter worth about $42,189,000. Finally, Schroder Investment Management Group acquired a new position in Plantronics during the 4th quarter worth about $34,325,000. Institutional investors and hedge funds own 99.15% of the company’s stock.

Several analysts have issued reports on the company. StockNews.com initiated coverage on Plantronics in a report on Thursday, March 31st. They issued a “hold” rating for the company. TheStreet lowered shares of Plantronics from a “c” rating to a “d+” rating in a report on Tuesday, February 8th. Zacks Investment Research upgraded shares of Plantronics from a “sell” rating to a “hold” rating and set a $32.00 price target for the company in a report on Monday, January 3rd. Finally, JPMorgan Chase & Co. lowered Plantronics from an “overweight” rating to a “neutral” rating and increased their price objective for the stock from $33.00 to $40.00 in a research report on Tuesday, March 29th. Five analysts have rated the stock with a hold rating, According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $34.25.

Plantronics Company Profile (Get Rating)

Plantronics, Inc designs, manufactures, markets, and sells integrated communications and collaborations solutions for corporate customers, small businesses, and individuals in the United States, Europe, the Middle East, Africa, the Asia Pacific, and rest of the Americas. Its principal product categories include headsets, which comprises wired and wireless communication headsets; voice that includes open session initiation protocol and native ecosystem desktop phones, and conference room phones; video conferencing solutions and peripherals, including cameras, speakers, and microphones designed to work with a range of unified communication and collaboration, unified communication as a service, and video as a service environments, including RealPresence collaboration solutions of infrastructure to endpoints that allows people to connect and collaborate; and content sharing solutions.

Featured Stories

Receive News & Ratings for Plantronics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Plantronics and related companies with MarketBeat.com's FREE daily email newsletter.