Preformed Line Products (NASDAQ:PLPC) Raised to “Strong-Buy” at StockNews.com

Preformed Line Products (NASDAQ:PLPC) was upgraded by equities research analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Tuesday.

Preformed Line Products Trading Up 0.2 %

Shares of Preformed Line Products stock traded up $0.24 on Tuesday, hitting $151.20. 36,147 shares of the company traded hands, compared to its average volume of 15,619. The company has a market cap of $747.08 million, a PE ratio of 22.70 and a beta of 0.62. The stock’s 50 day moving average price is $134.53 and its 200-day moving average price is $129.92. The company has a current ratio of 2.81, a quick ratio of 1.56 and a debt-to-equity ratio of 0.06. Preformed Line Products has a 52 week low of $109.01 and a 52 week high of $154.90.

Preformed Line Products (NASDAQ:PLPC) last issued its quarterly earnings data on Thursday, March 13th. The technology company reported $2.13 earnings per share (EPS) for the quarter. The company had revenue of $167.12 million for the quarter. Preformed Line Products had a net margin of 5.76% and a return on equity of 7.88%.

Hedge Funds Weigh In On Preformed Line Products

Institutional investors have recently bought and sold shares of the business. JPMorgan Chase & Co. increased its holdings in Preformed Line Products by 93.3% during the third quarter. JPMorgan Chase & Co. now owns 8,119 shares of the technology company’s stock valued at $1,040,000 after buying an additional 3,919 shares during the period. Franklin Resources Inc. increased its holdings in Preformed Line Products by 21.3% during the third quarter. Franklin Resources Inc. now owns 3,161 shares of the technology company’s stock valued at $389,000 after buying an additional 556 shares during the period. FMR LLC increased its holdings in Preformed Line Products by 27.7% during the third quarter. FMR LLC now owns 25,091 shares of the technology company’s stock valued at $3,214,000 after buying an additional 5,442 shares during the period. Ingalls & Snyder LLC purchased a new position in Preformed Line Products in the third quarter worth $521,000. Finally, Barclays PLC grew its holdings in Preformed Line Products by 135.6% in the third quarter. Barclays PLC now owns 4,989 shares of the technology company’s stock worth $638,000 after purchasing an additional 2,871 shares during the last quarter. 41.19% of the stock is owned by hedge funds and other institutional investors.

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.