Preformed Line Products (NASDAQ:PLPC) Stock Rating Upgraded by Wall Street Zen

Preformed Line Products (NASDAQ:PLPC) was upgraded by investment analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a note issued to investors on Saturday.

A number of other research firms also recently weighed in on PLPC. Freedom Capital downgraded Preformed Line Products from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 1st. Weiss Ratings reiterated a “hold (c+)” rating on shares of Preformed Line Products in a report on Friday, July 24th. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $275.00.

Preformed Line Products Price Performance

Shares of NASDAQ:PLPC opened at $356.98 on Friday. The company has a 50-day moving average price of $360.69 and a two-hundred day moving average price of $312.73. Preformed Line Products has a twelve month low of $145.55 and a twelve month high of $414.35. The company has a quick ratio of 1.78, a current ratio of 3.01 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $1.75 billion, a PE ratio of 40.20 and a beta of 0.91.

Preformed Line Products (NASDAQ:PLPC) last released its quarterly earnings data on Wednesday, July 29th. The technology company reported $4.49 earnings per share for the quarter, beating analysts’ consensus estimates of $2.41 by $2.08. Preformed Line Products had a net margin of 5.82% and a return on equity of 10.77%. The business had revenue of $212.68 million during the quarter, compared to analyst estimates of $193.00 million.

Hedge Funds Weigh In On Preformed Line Products

Several hedge funds and other institutional investors have recently modified their holdings of PLPC. Russell Investments Group Ltd. boosted its stake in shares of Preformed Line Products by 2,562.5% during the 3rd quarter. Russell Investments Group Ltd. now owns 213 shares of the technology company’s stock worth $42,000 after acquiring an additional 205 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in Preformed Line Products by 199.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 299 shares of the technology company’s stock worth $48,000 after acquiring an additional 199 shares during the period. Royal Bank of Canada lifted its holdings in Preformed Line Products by 132.4% during the fourth quarter. Royal Bank of Canada now owns 251 shares of the technology company’s stock valued at $52,000 after purchasing an additional 143 shares in the last quarter. State of Wyoming purchased a new position in Preformed Line Products during the second quarter valued at approximately $63,000. Finally, Huntington National Bank boosted its position in shares of Preformed Line Products by 55.5% in the fourth quarter. Huntington National Bank now owns 311 shares of the technology company’s stock worth $64,000 after purchasing an additional 111 shares during the period. 41.19% of the stock is owned by institutional investors.

About Preformed Line Products

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.