Plexus Corp. (NASDAQ:PLXS) Given Consensus Rating of “Buy” by Analysts

Plexus Corp. (NASDAQ:PLXS) has been assigned a consensus rating of “Buy” from the six analysts that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $102.79.

A number of equities analysts have recently issued reports on the company. Sidoti raised Plexus from a “neutral” rating to a “buy” rating and set a $110.00 target price for the company in a report on Tuesday, June 22nd. Fox-Davies Capital raised Plexus from an “equal weight” rating to an “overweight” rating and set a $110.00 target price for the company in a report on Monday, August 23rd. Needham & Company LLC reissued a “buy” rating and issued a $108.00 target price on shares of Plexus in a report on Friday, September 10th. Loop Capital increased their target price on Plexus from $100.00 to $105.00 and gave the stock a “buy” rating in a report on Friday, June 11th. Finally, Raymond James set a $85.73 target price on Plexus and gave the stock a “hold” rating in a report on Monday, July 19th.

In related news, Director J Joel Quadracci purchased 2,840 shares of Plexus stock in a transaction dated Wednesday, August 18th. The shares were acquired at an average cost of $88.02 per share, for a total transaction of $249,976.80. Following the transaction, the director now directly owns 1,167 shares of the company’s stock, valued at $102,719.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 2.38% of the stock is currently owned by company insiders.

A number of institutional investors have recently modified their holdings of PLXS. Federated Hermes Inc. raised its stake in Plexus by 122.4% during the 1st quarter. Federated Hermes Inc. now owns 278 shares of the technology company’s stock worth $26,000 after buying an additional 153 shares during the period. Lazard Asset Management LLC acquired a new stake in shares of Plexus in the 2nd quarter valued at about $29,000. Cullen Frost Bankers Inc. acquired a new stake in shares of Plexus in the 2nd quarter valued at about $34,000. Harvest Fund Management Co. Ltd acquired a new stake in shares of Plexus in the 1st quarter valued at about $45,000. Finally, Geneos Wealth Management Inc. acquired a new stake in shares of Plexus in the 1st quarter valued at about $85,000. 93.46% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ:PLXS opened at $91.41 on Friday. The business has a 50 day moving average price of $88.79 and a 200 day moving average price of $91.20. Plexus has a twelve month low of $64.35 and a twelve month high of $101.17. The company has a market cap of $2.61 billion, a price-to-earnings ratio of 18.81 and a beta of 1.19. The company has a quick ratio of 0.94, a current ratio of 1.81 and a debt-to-equity ratio of 0.18.

Plexus (NASDAQ:PLXS) last posted its quarterly earnings results on Tuesday, July 20th. The technology company reported $0.99 EPS for the quarter, beating the consensus estimate of $0.77 by $0.22. The firm had revenue of $814.39 million during the quarter, compared to analysts’ expectations of $797.24 million. Plexus had a return on equity of 14.55% and a net margin of 4.17%. The company’s revenue for the quarter was down 5.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.20 EPS. Analysts anticipate that Plexus will post 4.91 EPS for the current year.

Plexus Company Profile

Plexus Corp. engages in the provision of electronic manufacturing services. The firm partners with companies to transform concepts into branded products and deliver them to the market. It has partnerships with customers in the healthcare and life sciences; industrial and commercial; communications; and aerospace and defense market sectors.

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Analyst Recommendations for Plexus (NASDAQ:PLXS)

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