News stories about Plexus (NASDAQ:PLXS) have been trending somewhat positive this week, according to Accern Sentiment. Accern rates the sentiment of media coverage by monitoring more than twenty million news and blog sources in real time. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Plexus earned a news impact score of 0.08 on Accern’s scale. Accern also gave media coverage about the technology company an impact score of 45.9075638283909 out of 100, indicating that recent media coverage is somewhat unlikely to have an impact on the company’s share price in the near term.
A number of equities research analysts recently commented on PLXS shares. BidaskClub cut shares of Plexus from a “hold” rating to a “sell” rating in a research note on Saturday, December 16th. ValuEngine raised shares of Plexus from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Longbow Research upgraded shares of Plexus from a “neutral” rating to a “buy” rating in a report on Monday, January 8th. TheStreet lowered shares of Plexus from an “a-” rating to a “c+” rating in a report on Wednesday, January 17th. Finally, JPMorgan Chase set a $70.00 target price on shares of Plexus and gave the company a “hold” rating in a report on Friday, March 16th. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $62.00.
Shares of PLXS stock traded down $0.99 during trading hours on Monday, hitting $58.74. 136,825 shares of the company were exchanged, compared to its average volume of 171,817. The firm has a market cap of $2,012.26, a P/E ratio of 18.34 and a beta of 0.85. Plexus has a 1 year low of $49.06 and a 1 year high of $66.78. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.90 and a quick ratio of 1.08.
Plexus announced that its Board of Directors has initiated a stock buyback plan on Tuesday, February 20th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the technology company to reacquire shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.
In other news, Director Peter Kelly acquired 5,000 shares of the stock in a transaction on Monday, January 22nd. The stock was bought at an average price of $60.10 per share, with a total value of $300,500.00. Following the completion of the transaction, the director now directly owns 21,896 shares of the company’s stock, valued at $1,315,949.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Ronnie Darroch sold 1,250 shares of the stock in a transaction that occurred on Friday, March 2nd. The shares were sold at an average price of $60.66, for a total transaction of $75,825.00. The disclosure for this sale can be found here. Insiders sold 28,554 shares of company stock valued at $1,726,564 in the last ninety days. 3.70% of the stock is owned by corporate insiders.
Plexus Corp., together with its subsidiaries, provides electronic manufacturing services in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. It offers product conceptualization solutions; and product design and value-engineering solutions, including program management, feasibility studies, specification development for product features and functionality, circuit design, field programmable gate array design, printed circuit board layout, embedded software design, mechanical design, test specifications development and product verification testing, and automated production solutions and complex automation design.
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