Preformed Line Products (NASDAQ:PLPC) Upgraded at Freedom Capital

Freedom Capital upgraded shares of Preformed Line Products (NASDAQ:PLPC) from a hold rating to a strong-buy rating in a research report sent to investors on Monday,Zacks.com reports.

PLPC has been the subject of several other reports. Wall Street Zen downgraded shares of Preformed Line Products from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. Loop Capital set a $275.00 target price on Preformed Line Products in a research note on Monday. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Preformed Line Products in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Strong Buy” and an average target price of $275.00.

Preformed Line Products Price Performance

Preformed Line Products stock opened at $267.23 on Monday. The stock has a market capitalization of $1.31 billion, a price-to-earnings ratio of 37.43 and a beta of 0.76. Preformed Line Products has a 52-week low of $122.32 and a 52-week high of $287.96. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.87 and a current ratio of 3.17. The stock’s 50 day moving average price is $252.16 and its two-hundred day moving average price is $223.45.

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

Institutional Trading of Preformed Line Products

A number of hedge funds and other institutional investors have recently bought and sold shares of PLPC. Russell Investments Group Ltd. lifted its stake in shares of Preformed Line Products by 22.1% in the fourth quarter. Russell Investments Group Ltd. now owns 260 shares of the technology company’s stock valued at $54,000 after buying an additional 47 shares in the last quarter. Bank of America Corp DE increased its position in shares of Preformed Line Products by 6.6% during the second quarter. Bank of America Corp DE now owns 1,609 shares of the technology company’s stock worth $257,000 after acquiring an additional 100 shares in the last quarter. Huntington National Bank increased its position in shares of Preformed Line Products by 55.5% during the fourth quarter. Huntington National Bank now owns 311 shares of the technology company’s stock worth $64,000 after acquiring an additional 111 shares in the last quarter. Quantinno Capital Management LP raised its holdings in shares of Preformed Line Products by 3.5% in the 2nd quarter. Quantinno Capital Management LP now owns 3,823 shares of the technology company’s stock worth $611,000 after acquiring an additional 128 shares during the last quarter. Finally, Royal Bank of Canada lifted its position in Preformed Line Products by 132.4% in the 4th quarter. Royal Bank of Canada now owns 251 shares of the technology company’s stock valued at $52,000 after acquiring an additional 143 shares in the last quarter. Institutional investors own 41.19% of the company’s stock.

Preformed Line Products Company Profile

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.