Plexus Corp. (NASDAQ:PLXS) Receives $102.79 Consensus PT from Brokerages

Shares of Plexus Corp. (NASDAQ:PLXS) have received a consensus rating of “Buy” from the six brokerages that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $102.79.

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

Plexus stock opened at $91.41 on Friday. Plexus has a 52 week low of $64.35 and a 52 week high of $101.17. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.94 and a current ratio of 1.81. The stock has a market capitalization of $2.61 billion, a P/E ratio of 18.81 and a beta of 1.19. The stock has a 50-day simple moving average of $88.79 and a 200 day simple moving average of $91.20.

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

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

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Parametric Portfolio Associates LLC raised its position in Plexus by 5.1% during the second quarter. Parametric Portfolio Associates LLC now owns 109,791 shares of the technology company’s stock valued at $10,036,000 after purchasing an additional 5,315 shares in the last quarter. Morgan Stanley increased its holdings in shares of Plexus by 61.2% during the second quarter. Morgan Stanley now owns 136,070 shares of the technology company’s stock worth $12,437,000 after buying an additional 51,646 shares in the last quarter. Wells Fargo & Company MN increased its holdings in shares of Plexus by 10.6% during the second quarter. Wells Fargo & Company MN now owns 136,915 shares of the technology company’s stock worth $12,515,000 after buying an additional 13,162 shares in the last quarter. Mairs & Power Inc. increased its holdings in shares of Plexus by 9.2% during the second quarter. Mairs & Power Inc. now owns 94,745 shares of the technology company’s stock worth $8,661,000 after buying an additional 7,992 shares in the last quarter. Finally, Metropolitan Life Insurance Co NY increased its holdings in shares of Plexus by 94,337.5% during the second quarter. Metropolitan Life Insurance Co NY now owns 7,555 shares of the technology company’s stock worth $691,000 after buying an additional 7,547 shares in the last quarter. Institutional investors and hedge funds own 93.46% of the company’s stock.

About Plexus

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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