Plexus (NASDAQ:PLXS) Cut to Hold at Wall Street Zen

Wall Street Zen downgraded shares of Plexus (NASDAQ:PLXS) from a buy rating to a hold rating in a research report sent to investors on Saturday,Wall Street Zen reports.

A number of other equities research analysts have also recently commented on the company. KeyCorp upgraded Plexus from a “sector weight” rating to an “overweight” rating and set a $300.00 price target for the company in a research note on Monday, September 21st. Zacks Research upgraded Plexus from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 11th. Needham & Company LLC restated a “buy” rating and set a $310.00 price objective on shares of Plexus in a report on Friday, August 14th. Sidoti raised shares of Plexus from a “neutral” rating to a “buy” rating and set a $308.00 price objective for the company in a research report on Friday, July 31st. Finally, Weiss Ratings lowered shares of Plexus from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, September 9th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $276.86.

Plexus Stock Performance

Shares of PLXS stock opened at $264.96 on Friday. The business’s fifty day simple moving average is $253.26 and its 200-day simple moving average is $251.87. The company has a market cap of $7.09 billion, a PE ratio of 39.08 and a beta of 0.89. The company has a current ratio of 1.49, a quick ratio of 0.72 and a debt-to-equity ratio of 0.06. Plexus has a 12-month low of $132.03 and a 12-month high of $307.06.

Plexus (NASDAQ:PLXS) last issued its quarterly earnings data on Wednesday, July 29th. The technology company reported $2.32 EPS for the quarter, beating the consensus estimate of $2.13 by $0.19. Plexus had a return on equity of 12.46% and a net margin of 4.03%.The firm had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.23 billion. During the same quarter in the prior year, the business posted $1.64 EPS. The business’s revenue for the quarter was up 28.2% compared to the same quarter last year. Plexus has set its Q4 2026 guidance at 2.470-2.630 EPS. Analysts expect that Plexus will post 7.13 earnings per share for the current fiscal year.

Insider Transactions at Plexus

In related news, Director Michael V. Schrock sold 4,000 shares of the business’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $275.00, for a total transaction of $1,100,000.00. Following the completion of the transaction, the director directly owned 40,329 shares in the company, valued at $11,090,475. The trade was a 9.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Todd P. Kelsey sold 1,500 shares of the business’s stock in a transaction on Wednesday, September 16th. The shares were sold at an average price of $242.41, for a total transaction of $363,615.00. Following the transaction, the chief executive officer owned 64,388 shares of the company’s stock, valued at $15,608,295.08. This represents a 2.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 7,500 shares of company stock worth $1,960,520 over the last 90 days. 1.78% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Plexus

A number of institutional investors have recently modified their holdings of the stock. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Plexus in the 2nd quarter valued at about $32,000. Kilter Group LLC acquired a new stake in Plexus during the second quarter worth about $40,000. Integrated Wealth Concepts LLC acquired a new stake in Plexus during the second quarter worth about $51,000. Persistent Asset Partners Ltd purchased a new position in Plexus during the second quarter valued at approximately $71,000. Finally, Caitlin John LLC purchased a new position in Plexus during the second quarter valued at approximately $74,000. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Plexus Company Profile

Plexus Corp. is a global electronics manufacturing services company that designs, manufactures and services products for original equipment manufacturers. The company supports customers across the product life cycle, from product development and engineering to supply chain management, assembly, testing, fulfillment and aftermarket services.

Plexus provides solutions for industries including healthcare and life sciences, industrial and commercial, aerospace and defense, and communications.