Plexus Corp. (NASDAQ:PLXS) Stock Has Average Price Target of $276.86 According to Analysts

Key Points

• Analyst sentiment is positive: Nine analysts give Plexus a consensus “Buy” rating, with an average 12-month price target of $276.86.
• Quarterly results topped expectations: Plexus reported EPS of $2.84 versus $2.55 expected and revenue of $1.43 billion versus $1.36 billion; revenue grew 34.9% year over year.
• Company insiders sold 5,000 shares worth about $1.22 million over the past 90 days, while institutional investors own 94.45% of the stock.

Shares of Plexus Corp. (NASDAQ:PLXS - Get Free Report) have been given a consensus rating of "Buy" by the nine analysts that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation, seven have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $276.86.

A number of research analysts recently commented on the company. Weiss Ratings cut Plexus from a "buy (b-)" rating to a "hold (c+)" rating in a report on Friday, October 23rd. 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. Fox Advisors raised shares of Plexus from an "equal weight" rating to an "overweight" rating in a report on Monday, November 2nd. Zacks Research raised shares of Plexus from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 11th. 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.

Plexus Stock Up 3.3%

Shares of PLXS stock opened at $211.92 on Thursday. The company has a market capitalization of $5.67 billion, a price-to-earnings ratio of 28.56 and a beta of 0.97. Plexus has a one year low of $132.03 and a one year high of $307.06. The company's fifty day moving average price is $240.91 and its 200-day moving average price is $240.51. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.43 and a quick ratio of 0.67.

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

Insiders Place Their Bets

In other Plexus news, CEO Todd P. Kelsey sold 1,500 shares of Plexus stock in a transaction on Wednesday, August 19th. The shares were 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 in the company, valued at approximately $16,536,570.24. The trade was a 2.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible 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 business's stock in a transaction on Monday, August 31st. The stock was sold at an average price of $240.87, for a total transaction of $120,435.00. Following the completion of the sale, the director owned 7,535 shares in the company, valued at approximately $1,814,955.45. The trade was a 6.22% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 5,000 shares of company stock valued at $1,219,260. 1.78% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in PLXS. Public Sector Pension Investment Board increased its holdings in shares of Plexus by 27.8% in the third quarter. Public Sector Pension Investment Board now owns 117,473 shares of the technology company's stock worth $29,880,000 after purchasing an additional 25,527 shares during the last quarter. Global Retirement Partners LLC lifted its position in shares of Plexus by 217.7% in the third quarter. Global Retirement Partners LLC now owns 3,355 shares of the technology company's stock worth $875,000 after buying an additional 2,299 shares in the last quarter. Edgestream Partners L.P. purchased a new stake in shares of Plexus in the third quarter worth about $7,345,000. Hantz Financial Services Inc. boosted its stake in Plexus by 42.2% during the third quarter. Hantz Financial Services Inc. now owns 394 shares of the technology company's stock valued at $103,000 after buying an additional 117 shares during the last quarter. Finally, Virtus Advisers LLC boosted its stake in Plexus by 16.7% during the third quarter. Virtus Advisers LLC now owns 509 shares of the technology company's stock valued at $133,000 after buying an additional 73 shares during the last quarter. Institutional investors own 94.45% of the company's stock.

Plexus Company Profile

Plexus Corp. is a provider of electronics manufacturing services and product realization solutions for companies that develop complex products. Its services span product design and development, engineering, manufacturing, supply chain management, fulfillment, and aftermarket support. The company serves customers in markets including healthcare and life sciences, industrial, and aerospace and defense. Its work supports products that may require specialized engineering, quality controls, and production processes.

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