Plexus (NASDAQ:PLXS) Rating Increased to Strong-Buy at Wall Street Zen

Plexus (NASDAQ:PLXS - Get Free Report) was upgraded by analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a report issued on Saturday.

A number of other research firms have also issued reports on PLXS. Needham & Company LLC restated a "buy" rating and set a $162.00 price target (down previously from $172.00) on shares of Plexus in a report on Friday, April 25th. Stifel Nicolaus set a $145.00 target price on shares of Plexus in a research note on Thursday, April 24th. Finally, Benchmark restated a "buy" rating and issued a $160.00 target price on shares of Plexus in a report on Wednesday, June 4th. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $155.67.

Plexus Price Performance

Shares of PLXS traded down $0.12 during trading hours on Friday, hitting $130.84. 151,077 shares of the company were exchanged, compared to its average volume of 169,920. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.53 and a quick ratio of 0.71. The company has a market capitalization of $3.54 billion, a PE ratio of 25.46 and a beta of 0.81. The firm has a fifty day simple moving average of $128.37 and a 200-day simple moving average of $138.99. Plexus has a one year low of $100.96 and a one year high of $172.89.

Plexus (NASDAQ:PLXS - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The technology company reported $1.66 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.54 by $0.12. The company had revenue of $980.17 million for the quarter, compared to analyst estimates of $980.07 million. Plexus had a return on equity of 11.17% and a net margin of 3.60%. Plexus's revenue for the quarter was up 1.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.94 earnings per share. As a group, sell-side analysts predict that Plexus will post 5.9 earnings per share for the current year.

Insider Activity

In other news, CFO Patrick John Jermain sold 4,328 shares of the company's stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $132.29, for a total value of $572,551.12. Following the transaction, the chief financial officer now owns 25,637 shares in the company, valued at $3,391,518.73. This represents a 14.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Todd P. Kelsey sold 1,500 shares of the company's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $129.87, for a total value of $194,805.00. Following the completion of the transaction, the chief executive officer now owns 75,214 shares in the company, valued at $9,768,042.18. This represents a 1.96% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 12,032 shares of company stock worth $1,582,222 in the last 90 days. Company insiders own 1.76% of the company's stock.

Hedge Funds Weigh In On Plexus

A number of hedge funds have recently added to or reduced their stakes in the company. Inspire Investing LLC increased its holdings in Plexus by 4.8% in the first quarter. Inspire Investing LLC now owns 2,682 shares of the technology company's stock worth $344,000 after buying an additional 123 shares during the last quarter. Strs Ohio acquired a new position in Plexus in the first quarter worth approximately $1,089,000. Acadian Asset Management LLC increased its holdings in Plexus by 666.3% in the first quarter. Acadian Asset Management LLC now owns 14,660 shares of the technology company's stock worth $1,876,000 after buying an additional 12,747 shares during the last quarter. Intech Investment Management LLC increased its holdings in Plexus by 34.2% in the first quarter. Intech Investment Management LLC now owns 14,823 shares of the technology company's stock worth $1,899,000 after buying an additional 3,779 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Plexus by 12.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 79,584 shares of the technology company's stock worth $10,197,000 after buying an additional 9,078 shares during the last quarter. Institutional investors and hedge funds own 94.45% of the company's stock.

Plexus Company Profile

Plexus Corp. provides electronic manufacturing services in the United States and internationally. It offers design, develop, supply chain, new product introduction, and manufacturing solutions, as well as sustaining services to companies in the healthcare/life sciences, industrial/commercial, aerospace/defense, and communications market sectors.