Preformed Line Products (NASDAQ:PLPC) Upgraded by Weiss Ratings to "Buy (B-)" Rating

Key Points

• Preformed Line Products has been upgraded by Weiss Ratings from a "hold (C+)" to a "buy (B-)" rating.
• The company's stock price opened at $200.43, with a market capitalization of $986.12 million and a PE ratio of 23.41.
• Recent quarterly earnings showed an EPS of $2.56 and revenue of $169.60 million, with a net margin of 6.70%.

Preformed Line Products (NASDAQ:PLPC - Get Free Report) was upgraded by investment analysts at Weiss Ratings from a "hold (c+)" rating to a "buy (b-)" rating in a research note issued to investors on Wednesday,Weiss Ratings reports.

Preformed Line Products Price Performance

PLPC stock opened at $200.43 on Wednesday. The stock has a market capitalization of $986.12 million, a PE ratio of 23.41 and a beta of 0.75. The company's 50-day moving average is $186.99 and its 200-day moving average is $159.94. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.08 and a quick ratio of 1.83. Preformed Line Products has a 1 year low of $118.99 and a 1 year high of $208.99.

Preformed Line Products (NASDAQ:PLPC - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The technology company reported $2.56 earnings per share (EPS) for the quarter. The company had revenue of $169.60 million for the quarter. Preformed Line Products had a net margin of 6.70% and a return on equity of 9.69%.

Hedge Funds Weigh In On Preformed Line Products

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. SummerHaven Investment Management LLC boosted its position in shares of Preformed Line Products by 1.5% during the 1st quarter. SummerHaven Investment Management LLC now owns 6,574 shares of the technology company's stock worth $921,000 after purchasing an additional 95 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of Preformed Line Products by 6.6% in the 2nd quarter. Bank of America Corp DE now owns 1,609 shares of the technology company's stock worth $257,000 after acquiring an additional 100 shares during the last quarter. Pullen Investment Management LLC raised its holdings in shares of Preformed Line Products by 0.9% in the 2nd quarter. Pullen Investment Management LLC now owns 10,921 shares of the technology company's stock worth $1,745,000 after acquiring an additional 101 shares during the last quarter. Ausbil Investment Management Ltd raised its holdings in shares of Preformed Line Products by 1.6% in the 2nd quarter. Ausbil Investment Management Ltd now owns 6,716 shares of the technology company's stock worth $1,073,000 after acquiring an additional 108 shares during the last quarter. Finally, Quantinno Capital Management LP raised its holdings in shares of Preformed Line Products by 3.5% in the 2nd quarter. Quantinno Capital Management LP now owns 3,823 shares of the technology company's stock worth $611,000 after acquiring an additional 128 shares during the last quarter. Institutional investors own 41.19% of the company's stock.

About Preformed Line Products

Preformed Line Products Company, together with its subsidiaries, designs and manufactures products and systems that are used in the construction and maintenance of overhead, ground-mounted, and underground networks for the energy, telecommunication, cable, data communication, and other industries. The company offers optical ground wire products to support, protect, terminate, and splice transmission and distribution lines, as well as bolted, welded, and compressed connectors for substations; and string hardware products, polymer insulators, wildlife protection, substation fittings, and motion control devices.

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