Plexus (NASDAQ:PLXS) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Plexus (NASDAQ:PLXS) from a hold rating to a buy rating in a research report report published on Sunday,Wall Street Zen reports.

PLXS has been the subject of a number of other research reports. KeyCorp raised shares of Plexus from a “sector weight” rating to an “overweight” rating and set a $300.00 target price for the company in a research report on Monday, September 21st. Weiss Ratings downgraded shares of Plexus from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, October 23rd. Zacks Research upgraded shares of Plexus from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 11th. Sidoti raised shares of Plexus from a “neutral” rating to a “buy” rating and set a $308.00 price objective on the stock in a research note on Friday, July 31st. Finally, Needham & Company LLC reiterated a “buy” rating and set a $310.00 price objective on shares of Plexus in a research report on Friday, August 14th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $276.86.

Plexus Trading Up 3.5%

NASDAQ PLXS opened at $216.78 on Friday. The business’s 50-day moving average price is $245.72 and its two-hundred day moving average price is $239.83. Plexus has a 12 month low of $132.03 and a 12 month high of $307.06. The firm has a market capitalization of $5.80 billion, a PE ratio of 28.22 and a beta of 0.97. The company has a current ratio of 1.43, a quick ratio of 0.67 and a debt-to-equity ratio of 0.05.

Plexus (NASDAQ:PLXS) last issued its quarterly earnings results on Wednesday, October 28th. The technology company reported $2.84 earnings per share for the quarter, beating the consensus estimate of $2.55 by $0.29. Plexus had a return on equity of 13.34% and a net margin of 4.08%. The company had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.36 billion. During the same quarter in the prior year, the firm posted $2.14 earnings per share. The business’s quarterly revenue was up 34.9% on a year-over-year basis. On average, analysts expect that Plexus will post 9.02 EPS for the current year.

Insider Activity

In related news, Director Karen Rapp sold 500 shares of the company’s stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $240.87, for a total transaction of $120,435.00. Following the sale, the director owned 7,535 shares in the company, valued at $1,814,955.45. This represents a 6.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Todd P. Kelsey sold 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $250.98, for a total value of $376,470.00. Following the sale, the chief executive officer directly owned 65,888 shares of the company’s stock, valued at $16,536,570.24. This represents a 2.23% decrease in their position. 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 9,000 shares of company stock valued at $2,319,260 in the last ninety days. 1.78% of the stock is owned by company insiders.

Hedge Funds Weigh In On Plexus

Several institutional investors have recently added to or reduced their stakes in PLXS. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Plexus in the 2nd quarter valued at about $32,000. Root Financial Partners LLC acquired a new position in Plexus during the 3rd quarter worth approximately $32,000. Kilter Group LLC bought a new position in Plexus in the second quarter worth approximately $40,000. Integrated Wealth Concepts LLC bought a new position in Plexus in the second quarter worth approximately $51,000. Finally, Pension & Wealth Management Advisors Inc. bought a new position in Plexus in the third quarter worth approximately $45,000. 94.45% of the stock is owned by institutional investors and hedge funds.

About Plexus

Plexus Corp. is an electronics manufacturing services company that helps customers design, develop, manufacture and service complex electronic products. The company provides an integrated product-realization process spanning engineering and design, supply-chain management, manufacturing, testing, logistics and aftermarket services.

Plexus supports original equipment manufacturers in industries including healthcare and life sciences, industrial and commercial, aerospace and defense, and communications.