Preformed Line Products (NASDAQ:PLPC) was the recipient of a significant growth in short interest during the month of November. As of November 29th, there was short interest totalling 11,000 shares, a growth of 7.8% from the November 14th total of 10,200 shares. Based on an average daily trading volume, of 6,800 shares, the days-to-cover ratio is presently 1.6 days. Currently, 0.5% of the company’s shares are sold short.
Shares of NASDAQ PLPC traded up $0.92 during trading hours on Friday, hitting $73.35. The company’s stock had a trading volume of 15,417 shares, compared to its average volume of 7,478. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.69 and a current ratio of 2.79. The stock has a market cap of $362.76 million, a price-to-earnings ratio of 16.13 and a beta of 1.62. Preformed Line Products has a 12 month low of $45.12 and a 12 month high of $76.60. The business has a 50-day simple moving average of $66.61 and a 200-day simple moving average of $56.02.
Preformed Line Products (NASDAQ:PLPC) last posted its earnings results on Friday, November 1st. The technology company reported $1.55 earnings per share (EPS) for the quarter. The company had revenue of $119.22 million for the quarter. Preformed Line Products had a return on equity of 9.02% and a net margin of 5.25%.
A number of brokerages have recently issued reports on PLPC. ValuEngine cut Preformed Line Products from a “buy” rating to a “hold” rating in a research note on Wednesday, November 13th. BidaskClub raised Preformed Line Products from a “hold” rating to a “buy” rating in a research note on Friday, November 22nd.
About Preformed Line Products
Preformed Line Products Company, together with its subsidiaries, designs and manufactures products and systems used in the construction and maintenance of overhead and underground networks for the energy, telecommunication, cable operator, information, and other industries. The company offers formed wire and related hardware products to support, protect, terminate, and secure power conductor and communication cables, as well as to control cable dynamics; and hardware products to support and protect transmission conductors, spacers, spacer-dampers, stockbridge dampers, corona suppression devices, and various compression fittings for dead-end applications.
Further Reading: Bear Market
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