Preformed Line Products (NASDAQ:PLPC) Reaches New 52-Week High - Should You Buy?

Key Points

• 52-week high: PLPC hit a new 52-week high of $329.70 (last ~$327) but is trading well above the consensus price target of $275, signaling a potential valuation disconnect.
• Fundamentals show a recent quarterly EPS beat ($1.72 vs. $1.64) with revenue of $173.1M slightly below estimates, a low debt-to-equity ratio of 0.07, and a market cap of about $1.61 billion (PE ~45.95).
• Analyst coverage is mixed yet averages to a "Strong Buy", institutional ownership is roughly 41%, and the company pays a modest annualized dividend of $0.84 (yield ~0.3%).

Preformed Line Products Company (NASDAQ:PLPC - Get Free Report)'s stock price reached a new 52-week high on Tuesday . The company traded as high as $329.70 and last traded at $326.9980, with a volume of 8561 shares traded. The stock had previously closed at $321.01.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Freedom Capital raised shares of Preformed Line Products from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 9th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Preformed Line Products in a research note on Friday, March 27th. Wall Street Zen cut shares of Preformed Line Products from a "buy" rating to a "hold" rating in a research note on Saturday, March 7th. Finally, Loop Capital set a $275.00 price target on shares of Preformed Line Products in a research note on Monday, March 9th. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company's stock. According to data from MarketBeat.com, Preformed Line Products has an average rating of "Strong Buy" and a consensus price target of $275.00.

Preformed Line Products Stock Up 2.2%

The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.87 and a current ratio of 3.17. The firm's 50-day moving average is $275.03 and its 200 day moving average is $241.33. The firm has a market capitalization of $1.61 billion, a PE ratio of 45.95 and a beta of 0.75.

Preformed Line Products (NASDAQ:PLPC - Get Free Report) last released its quarterly earnings data on Wednesday, March 4th. The technology company reported $1.72 EPS for the quarter, topping the consensus estimate of $1.64 by $0.08. Preformed Line Products had a net margin of 5.27% and a return on equity of 9.36%. The business had revenue of $173.11 million for the quarter, compared to analyst estimates of $177.00 million.

Preformed Line Products Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 20th. Investors of record on Wednesday, April 1st were given a $0.21 dividend. The ex-dividend date was Wednesday, April 1st. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. Preformed Line Products's payout ratio is currently 11.76%.

Institutional Investors Weigh In On Preformed Line Products

Institutional investors and hedge funds have recently made changes to their positions in the business. Montag A & Associates Inc. purchased a new position in Preformed Line Products in the 3rd quarter valued at about $29,000. Huntington National Bank lifted its holdings in Preformed Line Products by 181.7% in the 3rd quarter. Huntington National Bank now owns 200 shares of the technology company's stock valued at $39,000 after purchasing an additional 129 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in Preformed Line Products by 2,562.5% in the 3rd quarter. Russell Investments Group Ltd. now owns 213 shares of the technology company's stock valued at $42,000 after purchasing an additional 205 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in Preformed Line Products by 199.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 299 shares of the technology company's stock valued at $48,000 after purchasing an additional 199 shares in the last quarter. Finally, State of Alaska Department of Revenue purchased a new position in Preformed Line Products in the 3rd quarter valued at about $51,000. 41.19% of the stock is currently owned by hedge funds and other institutional investors.

Preformed Line Products Company Profile

Preformed Line Products Company NASDAQ: PLPC is a global manufacturer of engineered solutions for electric, telecommunications and industrial infrastructure networks. The company designs, engineers and produces a broad portfolio of products, including preformed wire and cable fittings, anchors, suspension and tension clamps, splice closures and optical fiber hardware. These durable components support the installation, repair and maintenance of overhead and underground systems, helping utilities and contractors manage reliability and safety in demanding environments.

Founded in 1947 and headquartered in Mayfield Village, Ohio, Preformed Line Products operates manufacturing facilities and distribution centers across North America, Europe and the Asia Pacific region.

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