Plexus Corp. (NASDAQ:PLXS) Receives Consensus Recommendation of “Buy” from Analysts

Shares of Plexus Corp. (NASDAQ:PLXS – Get Rating) have been given a consensus recommendation of “Buy” by the eight brokerages that are covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $98.12.

PLXS has been the subject of several recent research reports. StockNews.com initiated coverage on Plexus in a research note on Thursday, March 31st. They issued a “hold” rating for the company. TheStreet downgraded Plexus from a “b” rating to a “c+” rating in a research note on Thursday, February 24th. Needham & Company LLC reduced their price objective on Plexus from $95.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, January 28th. Finally, Zacks Investment Research upgraded Plexus from a “strong sell” rating to a “hold” rating and set a $88.00 target price for the company in a report on Wednesday, March 30th.

In other news, VP Ronnie Darroch sold 3,117 shares of the stock in a transaction on Thursday, February 10th. The stock was sold at an average price of $79.99, for a total transaction of $249,328.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Angelo Michael Ninivaggi, Jr. sold 1,200 shares of the stock in a transaction on Monday, May 2nd. The stock was sold at an average price of $80.66, for a total value of $96,792.00. Following the transaction, the chief accounting officer now owns 32,760 shares of the company’s stock, valued at $2,642,421.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 8,418 shares of company stock valued at $683,348. 2.17% of the stock is owned by company insiders.

A number of institutional investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its holdings in Plexus by 5.3% during the 4th quarter. BlackRock Inc. now owns 4,410,139 shares of the technology company’s stock valued at $422,888,000 after acquiring an additional 220,050 shares during the period. Victory Capital Management Inc. boosted its holdings in Plexus by 3.2% during the 1st quarter. Victory Capital Management Inc. now owns 1,026,230 shares of the technology company’s stock valued at $83,949,000 after acquiring an additional 31,845 shares during the period. State Street Corp boosted its holdings in Plexus by 6.4% during the 4th quarter. State Street Corp now owns 1,012,433 shares of the technology company’s stock valued at $97,082,000 after acquiring an additional 61,141 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in Plexus by 1.0% during the 4th quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 853,613 shares of the technology company’s stock valued at $81,853,000 after acquiring an additional 8,497 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its holdings in Plexus by 3.9% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 816,761 shares of the technology company’s stock valued at $78,319,000 after acquiring an additional 30,301 shares during the period. Institutional investors own 94.92% of the company’s stock.

Shares of PLXS stock opened at $81.52 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.47 and a quick ratio of 0.64. The company has a market cap of $2.29 billion, a price-to-earnings ratio of 21.01 and a beta of 1.10. The stock has a 50 day simple moving average of $81.40 and a 200-day simple moving average of $85.91. Plexus has a 1-year low of $72.88 and a 1-year high of $101.17.

Plexus (NASDAQ:PLXS – Get Rating) last posted its quarterly earnings data on Wednesday, April 27th. The technology company reported $0.95 EPS for the quarter, beating the consensus estimate of $0.83 by $0.12. Plexus had a return on equity of 11.05% and a net margin of 3.31%. The firm had revenue of $888.70 million during the quarter, compared to the consensus estimate of $839.76 million. During the same period in the prior year, the company earned $1.49 EPS. The firm’s revenue was up .9% compared to the same quarter last year. Analysts anticipate that Plexus will post 4.1 earnings per share for the current fiscal year.

About Plexus (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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