Preformed Line Products (NASDAQ:PLPC) Stock Rating Lowered by Wall Street Zen

Preformed Line Products (NASDAQ:PLPC) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Saturday.

Separately, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Preformed Line Products in a report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy”.

Preformed Line Products Price Performance

Shares of NASDAQ PLPC opened at $235.72 on Friday. Preformed Line Products has a twelve month low of $118.99 and a twelve month high of $287.96. The firm has a market cap of $1.16 billion, a P/E ratio of 33.01 and a beta of 0.76. The company has a 50 day moving average of $249.17 and a 200 day moving average of $222.22. The company has a quick ratio of 1.87, a current ratio of 3.17 and a debt-to-equity ratio of 0.07.

Preformed Line Products (NASDAQ:PLPC) last released its quarterly earnings data on Wednesday, March 4th. The technology company reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.64 by $0.08. The business had revenue of $173.11 million for the quarter, compared to analysts’ expectations of $177.00 million. Preformed Line Products had a return on equity of 9.36% and a net margin of 5.27%.

Institutional Investors Weigh In On Preformed Line Products

A number of large investors have recently added to or reduced their stakes in PLPC. HighTower Advisors LLC lifted its holdings in shares of Preformed Line Products by 11.6% during the 4th quarter. HighTower Advisors LLC now owns 966,185 shares of the technology company’s stock valued at $199,720,000 after buying an additional 100,113 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Preformed Line Products by 1.3% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 217,511 shares of the technology company’s stock worth $42,665,000 after acquiring an additional 2,768 shares during the period. Vanguard Group Inc. grew its holdings in shares of Preformed Line Products by 4.8% in the third quarter. Vanguard Group Inc. now owns 162,173 shares of the technology company’s stock worth $31,810,000 after acquiring an additional 7,426 shares during the period. American Century Companies Inc. increased its position in Preformed Line Products by 13.4% during the second quarter. American Century Companies Inc. now owns 81,774 shares of the technology company’s stock valued at $13,068,000 after acquiring an additional 9,637 shares during the last quarter. Finally, Grantham Mayo Van Otterloo & Co. LLC increased its position in Preformed Line Products by 1.2% during the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 79,731 shares of the technology company’s stock valued at $15,639,000 after acquiring an additional 913 shares during the last quarter. Institutional investors own 41.19% of the company’s stock.

About Preformed Line Products

Preformed Line Products Company (NASDAQ: PLPC) is a global manufacturer of engineered solutions for electric, telecommunications and industrial infrastructure networks. The company designs, engineers and produces a broad portfolio of products, including preformed wire and cable fittings, anchors, suspension and tension clamps, splice closures and optical fiber hardware. These durable components support the installation, repair and maintenance of overhead and underground systems, helping utilities and contractors manage reliability and safety in demanding environments.

Founded in 1947 and headquartered in Mayfield Village, Ohio, Preformed Line Products operates manufacturing facilities and distribution centers across North America, Europe and the Asia Pacific region.