Preformed Line Products (NASDAQ:PLPC) Stock Rating Upgraded by StockNews.com

Preformed Line Products (NASDAQ:PLPC) was upgraded by StockNews.com from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Thursday.

Preformed Line Products Stock Performance

NASDAQ:PLPC opened at $134.94 on Thursday. The firm has a market capitalization of $661.21 million, a PE ratio of 20.26 and a beta of 0.62. The company has a current ratio of 2.81, a quick ratio of 1.56 and a debt-to-equity ratio of 0.06. Preformed Line Products has a 1 year low of $109.01 and a 1 year high of $141.66. The firm’s fifty day simple moving average is $122.12 and its 200 day simple moving average is $124.45.

Preformed Line Products (NASDAQ:PLPC) last posted its quarterly earnings data on Wednesday, October 30th. The technology company reported $1.54 earnings per share for the quarter. The business had revenue of $146.97 million during the quarter. Preformed Line Products had a return on equity of 7.88% and a net margin of 5.76%.

Hedge Funds Weigh In On Preformed Line Products

Hedge funds and other institutional investors have recently made changes to their positions in the business. Innealta Capital LLC bought a new stake in Preformed Line Products in the second quarter valued at $27,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Preformed Line Products in the 2nd quarter worth approximately $52,000. Mather Group LLC. bought a new stake in Preformed Line Products during the 2nd quarter worth approximately $64,000. SG Americas Securities LLC bought a new position in Preformed Line Products in the 3rd quarter valued at $119,000. Finally, Quest Partners LLC acquired a new position in Preformed Line Products in the second quarter worth $196,000. 41.19% of the stock is owned by institutional investors.

Preformed Line Products Company Profile

Preformed Line Products Company, together with its subsidiaries, designs and manufactures products and systems that are used in the construction and maintenance of overhead, ground-mounted, and underground networks for the energy, telecommunication, cable, data communication, and other industries. The company offers optical ground wire products to support, protect, terminate, and splice transmission and distribution lines, as well as bolted, welded, and compressed connectors for substations; and string hardware products, polymer insulators, wildlife protection, substation fittings, and motion control devices.