Plexus (NASDAQ:PLXS) PT Raised to $95.00 at Stifel Nicolaus

Plexus (NASDAQ:PLXS) had its target price boosted by Stifel Nicolaus from $90.00 to $95.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has a “hold” rating on the technology company’s stock. Stifel Nicolaus’ price objective suggests a potential downside of 5.27% from the stock’s previous close.

Other equities analysts also recently issued reports about the stock. Benchmark reissued a “buy” rating and issued a $110.00 price target on shares of Plexus in a research note on Wednesday, January 17th. Sidoti downgraded shares of Plexus from a “buy” rating to a “neutral” rating and set a $112.00 price target on the stock. in a research note on Tuesday, January 9th. Needham & Company LLC raised their price target on shares of Plexus from $107.00 to $114.00 and gave the stock a “buy” rating in a research note on Friday. Finally, TheStreet downgraded shares of Plexus from a “b” rating to a “c+” rating in a research note on Tuesday, February 13th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Plexus has an average rating of “Hold” and an average target price of $107.75.

Plexus Stock Performance

PLXS opened at $100.28 on Friday. The company has a quick ratio of 0.62, a current ratio of 1.51 and a debt-to-equity ratio of 0.15. The company has a market cap of $2.77 billion, a price-to-earnings ratio of 27.70 and a beta of 1.02. Plexus has a 52-week low of $83.84 and a 52-week high of $114.06. The firm’s fifty day simple moving average is $94.48 and its two-hundred day simple moving average is $98.41.

Plexus (NASDAQ:PLXS) last posted its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.07. The firm had revenue of $966.90 million for the quarter, compared to the consensus estimate of $950.75 million. Plexus had a net margin of 2.54% and a return on equity of 10.77%. The company’s revenue for the quarter was down 9.7% on a year-over-year basis. During the same period last year, the firm posted $1.45 earnings per share. Equities analysts anticipate that Plexus will post 4.36 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Plexus news, CAO Angelo Michael Ninivaggi, Jr. sold 3,694 shares of Plexus stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $97.18, for a total value of $358,982.92. Following the sale, the chief accounting officer now owns 40,875 shares in the company, valued at $3,972,232.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Todd P. Kelsey sold 2,000 shares of the business’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $94.30, for a total value of $188,600.00. Following the sale, the chief executive officer now directly owns 121,859 shares in the company, valued at approximately $11,491,303.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Angelo Michael Ninivaggi, Jr. sold 3,694 shares of the business’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $97.18, for a total transaction of $358,982.92. Following the completion of the sale, the chief accounting officer now owns 40,875 shares in the company, valued at $3,972,232.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 32,453 shares of company stock worth $3,112,875. Company insiders own 2.39% of the company’s stock.

Institutional Trading of Plexus

Several institutional investors and hedge funds have recently bought and sold shares of PLXS. SG Americas Securities LLC purchased a new stake in Plexus in the 3rd quarter valued at about $1,301,000. Avior Wealth Management LLC purchased a new stake in Plexus during the third quarter worth about $91,000. GW Henssler & Associates Ltd. purchased a new stake in Plexus during the third quarter worth about $204,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Plexus by 12.1% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,904 shares of the technology company’s stock worth $549,000 after purchasing an additional 638 shares during the period. Finally, Inspire Investing LLC increased its stake in Plexus by 3.6% during the third quarter. Inspire Investing LLC now owns 3,323 shares of the technology company’s stock worth $309,000 after purchasing an additional 114 shares during the period. 94.45% of the stock is currently owned by hedge funds and other institutional investors.

Plexus Company Profile

Plexus Corp. provides electronic manufacturing services in the United States and internationally. It offers design, develop, supply chain, new product introduction, and manufacturing solutions, as well as sustaining services to companies in the healthcare/life sciences, industrial/commercial, aerospace/defense, and communications market sectors.