Plexus (NASDAQ:PLXS) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen downgraded Plexus from “buy” to “hold,” although the broader analyst consensus remains “Buy” with a $276.86 target price.
• Plexus reported quarterly earnings of $2.32 per share, beating estimates of $2.13, while revenue rose 28.2% year over year to $1.30 billion.
• The stock opened at $216.98, down 1.7%, and insiders sold 9,000 shares worth approximately $2.32 million over the past 90 days; institutional investors own 94.45% of the company.

Plexus (NASDAQ:PLXS - Get Free Report) was downgraded by analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a note issued to investors on Saturday, Wall Street Zen reports.

PLXS has been the subject of several other reports. Zacks Research raised 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 target on the stock in a research report on Friday, July 31st. Needham & Company LLC reaffirmed a "buy" rating and issued a $310.00 price target on shares of Plexus in a research report on Friday, August 14th. 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. Finally, Weiss Ratings raised Plexus from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, October 8th. One research analyst has rated the stock with a Strong Buy rating and seven have issued a Buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $276.86.

Plexus Stock Down 1.7%

Plexus stock opened at $216.98 on Friday. Plexus has a 12-month low of $132.03 and a 12-month high of $307.06. The company has a quick ratio of 0.72, a current ratio of 1.49 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $5.81 billion, a PE ratio of 32.56 and a beta of 0.88. The firm's fifty day moving average is $249.62 and its 200 day moving average is $258.33.

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

Insider Buying and Selling

In other Plexus 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 sale, the director owned 40,329 shares of the company's stock, valued at $11,090,475. The trade was a 9.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Karen Rapp sold 500 shares of the stock in a transaction on Monday, August 31st. The stock was sold at an average price of $240.87, for a total value of $120,435.00. Following the sale, the director owned 7,535 shares in the company, valued at approximately $1,814,955.45. This represents a 6.22% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 9,000 shares of company stock valued at $2,319,260. Company insiders own 1.78% of the company's stock.

Hedge Funds Weigh In On Plexus

Several hedge funds have recently made changes to their positions in the stock. Louisiana State Employees Retirement System bought a new position in Plexus in the 1st quarter worth about $2,410,000. Walleye Capital LLC purchased a new position in Plexus during the 2nd quarter valued at about $8,296,000. Congress Asset Management Co. grew its holdings in Plexus by 204.0% during the 3rd quarter. Congress Asset Management Co. now owns 315,396 shares of the technology company's stock valued at $82,303,000 after buying an additional 211,663 shares in the last quarter. Inspire Investing LLC increased its position in shares of Plexus by 239.5% during the first quarter. Inspire Investing LLC now owns 10,789 shares of the technology company's stock valued at $2,185,000 after buying an additional 7,611 shares during the period. Finally, Bank of America Corp DE bought a new stake in shares of Plexus during the second quarter valued at about $60,281,000. 94.45% of the stock is currently owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.