Plexus (NASDAQ:PLXS) Raised to Overweight at Fox Advisors

Plexus (NASDAQ:PLXS) was upgraded by stock analysts at Fox Advisors from an “equal weight” rating to an “overweight” rating in a research report issued on Monday, Briefing.com reports.

Other research analysts also recently issued research reports about the company. Weiss Ratings downgraded Plexus from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, October 23rd. Needham & Company LLC reiterated a “buy” rating and issued a $310.00 price objective on shares of Plexus in a research note on Friday, August 14th. KeyCorp raised Plexus from a “sector weight” rating to an “overweight” rating and set a $300.00 price objective for the company in a report on Monday, September 21st. Wall Street Zen upgraded shares of Plexus from a “hold” rating to a “buy” rating in a research report on Sunday. Finally, Zacks Research raised shares of Plexus from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, Plexus presently has an average rating of “Buy” and an average target price of $276.86.

Plexus Stock Performance

NASDAQ PLXS opened at $207.96 on Monday. The company has a fifty day moving average of $246.75 and a two-hundred day moving average of $239.44. The company has a market capitalization of $5.56 billion, a PE ratio of 28.03 and a beta of 0.88. Plexus has a 1 year low of $132.03 and a 1 year high of $307.06. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.43 and a quick ratio of 0.67.

Plexus (NASDAQ:PLXS) last posted its earnings results on Wednesday, October 28th. The technology company reported $2.84 EPS for the quarter, topping analysts’ consensus estimates of $2.55 by $0.29. Plexus had a return on equity of 13.34% and a net margin of 4.08%. The business had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.36 billion. During the same quarter in the previous year, the firm earned $2.14 earnings per share. The business’s revenue was up 34.9% compared to the same quarter last year. As a group, analysts expect that Plexus will post 8.55 earnings per share for the current year.

Insider Buying and Selling

In other Plexus news, Director Michael V. Schrock sold 4,000 shares of the business’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $275.00, for a total value of $1,100,000.00. Following the transaction, the director directly owned 40,329 shares of the company’s stock, valued at approximately $11,090,475. The trade was a 9.02% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Karen Rapp sold 500 shares of the company’s stock in a transaction on Monday, August 31st. The stock was sold at an average price of $240.87, for a total transaction of $120,435.00. Following the transaction, the director owned 7,535 shares of the company’s stock, valued at approximately $1,814,955.45. The trade was a 6.22% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 9,000 shares of company stock valued at $2,319,260 over the last three months. 1.78% of the stock is currently owned by company insiders.

Institutional Trading of Plexus

Several hedge funds and other institutional investors have recently made changes to their positions in PLXS. Associated Banc Corp acquired a new position in shares of Plexus during the third quarter worth about $1,627,000. Bridge City Capital LLC raised its holdings in Plexus by 21.5% during the third quarter. Bridge City Capital LLC now owns 12,353 shares of the technology company’s stock worth $3,224,000 after purchasing an additional 2,184 shares in the last quarter. Vise Technologies Inc. raised its holdings in Plexus by 45.1% during the third quarter. Vise Technologies Inc. now owns 1,598 shares of the technology company’s stock worth $417,000 after purchasing an additional 497 shares in the last quarter. VestGen Advisors LLC acquired a new stake in Plexus in the third quarter valued at about $378,000. Finally, Moody Aldrich Partners LLC lifted its position in Plexus by 4.1% in the third quarter. Moody Aldrich Partners LLC now owns 15,834 shares of the technology company’s stock valued at $4,132,000 after purchasing an additional 629 shares during the period. Hedge funds and other institutional investors own 94.45% of the company’s stock.

About Plexus

Plexus Corp. is an electronics manufacturing services company that helps customers design, develop, manufacture and service complex electronic products. The company provides an integrated product-realization process spanning engineering and design, supply-chain management, manufacturing, testing, logistics and aftermarket services.

Plexus supports original equipment manufacturers in industries including healthcare and life sciences, industrial and commercial, aerospace and defense, and communications.