Plexus (NASDAQ:PLXS) Posts Earnings Results, Misses Estimates By $0.04 EPS

Key Points

• Plexus reported quarterly EPS of $2.51, falling $0.04 short of analysts’ $2.55 consensus estimate. The company posted a 12.46% return on equity and a 4.03% net margin.
• Shares rose $9.05 to $239.34 on heavier-than-average trading volume, giving Plexus a market capitalization of approximately $6.4 billion.
• Analysts maintain a consensus “Buy” rating with a $276.86 target price, despite recent insider sales totaling 9,000 shares worth about $2.32 million.

Plexus (NASDAQ:PLXS - Get Free Report) issued its quarterly earnings results on Wednesday. The technology company reported $2.51 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.55 by ($0.04), Zacks reports. Plexus had a return on equity of 12.46% and a net margin of 4.03%.

Plexus Price Performance

Shares of Plexus stock traded up $9.05 on Wednesday, hitting $239.34. The company's stock had a trading volume of 699,436 shares, compared to its average volume of 312,778. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.72 and a current ratio of 1.49. Plexus has a 1 year low of $132.03 and a 1 year high of $307.06. The firm has a fifty day moving average price of $248.27 and a 200-day moving average price of $238.49. The company has a market capitalization of $6.40 billion, a price-to-earnings ratio of 35.30 and a beta of 0.88.

Insider Buying and Selling

In other Plexus news, 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 approximately $16,536,570.24. This trade represents a 2.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael V. Schrock sold 4,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $275.00, for a total value of $1,100,000.00. Following the completion of the sale, the director directly owned 40,329 shares in the company, valued at approximately $11,090,475. The trade was a 9.02% 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. In the last 90 days, insiders sold 9,000 shares of company stock valued at $2,319,260. 1.78% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Zacks Research upgraded Plexus from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 11th. KeyCorp upgraded shares of Plexus from a "sector weight" rating to an "overweight" rating and set a $300.00 price objective on the stock in a report on Monday, September 21st. 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. Wall Street Zen cut shares of Plexus from a "buy" rating to a "hold" rating in a research note on Saturday. Finally, Weiss Ratings cut shares of Plexus from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $276.86.

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.

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