The stock of Plexus Corp. (NASDAQ:PLXS) hit a new 52-week high and has $53.80 target or 5.00% above today’s $51.24 share price. The 9 months bullish chart indicates low risk for the $1.74 billion company. The 1-year high was reported on Nov, 23 by Barchart.com. If the $53.80 price target is reached, the company will be worth $87.00 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 51,509 shares traded hands. Plexus Corp. (NASDAQ:PLXS) has risen 22.64% since April 21, 2016 and is uptrending. It has outperformed by 17.32% the S&P500.
Analysts await Plexus Corp. (NASDAQ:PLXS) to report earnings on January, 18. They expect $0.76 EPS, up 61.70% or $0.29 from last year’s $0.47 per share. PLXS’s profit will be $25.79M for 16.87 P/E if the $0.76 EPS becomes a reality. After $0.67 actual EPS reported by Plexus Corp. for the previous quarter, Wall Street now forecasts 13.43% EPS growth.
Plexus Corp. (NASDAQ:PLXS) Ratings Coverage
Out of 7 analysts covering Plexus (NASDAQ:PLXS), 2 rate it a “Buy”, 0 “Sell”, while 5 “Hold”. This means 29% are positive. Plexus has been the topic of 9 analyst reports since August 3, 2015 according to StockzIntelligence Inc. As per Wednesday, November 18, the company rating was downgraded by Numis Securities. The stock of Plexus Corp. (NASDAQ:PLXS) earned “Neutral” rating by B. Riley & Co on Friday, July 22. On Friday, July 22 the stock rating was maintained by Needham with “Buy”. Citigroup maintained Plexus Corp. (NASDAQ:PLXS) on Thursday, June 9 with “Neutral” rating. The firm has “Neutral” rating by Goldman Sachs given on Friday, October 23. The firm has “Buy” rating by Goldman Sachs given on Monday, August 3. Deutsche Bank maintained Plexus Corp. (NASDAQ:PLXS) on Monday, September 7 with “Hold” rating. RBC Capital Markets maintained it with “Sector Perform” rating and $41 target price in Tuesday, October 13 report. Needham maintained the stock with “Strong Buy” rating in Friday, July 24 report.
According to Zacks Investment Research, “Plexus Corp., through its subsidiaries, provides product realization services to original equipment manufacturers in the medical, computer, industrial, networking, telecommunications and transportation electronics industries. Plexus offers a full range of services including product development and design, material procurement and management, prototyping, manufacturing and assembly, functional and in-circuit testing, final system box build, distribution and after-market support.”
Insitutional Activity: The institutional sentiment decreased to 1.44 in Q2 2016. Its down 0.03, from 1.47 in 2016Q1. The ratio dived, as 12 funds sold all Plexus Corp. shares owned while 50 reduced positions. 33 funds bought stakes while 58 increased positions. They now own 30.51 million shares or 5.13% more from 29.02 million shares in 2016Q1.
Teachers Retirement Sys Of The State Of Kentucky last reported 14,400 shares in the company. Capstone Ltd Limited Liability Company last reported 7,089 shares in the company. Bessemer holds 800 shares or 0% of its portfolio. Rhumbline Advisers holds 0.01% of its portfolio in Plexus Corp. (NASDAQ:PLXS) for 52,870 shares. Manufacturers Life The accumulated 22,388 shares or 0% of the stock. Cubist Systematic Strategies Ltd holds 0.02% or 6,796 shares in its portfolio. Loomis Sayles L P holds 0% of its portfolio in Plexus Corp. (NASDAQ:PLXS) for 100 shares. The Illinois-based Northern Trust Corporation has invested 0.01% in Plexus Corp. (NASDAQ:PLXS). Phocas Finance holds 0.67% or 211,248 shares in its portfolio. Teachers Advisors, a New York-based fund reported 53,515 shares. Jennison Associate Limited Liability Company has invested 0% of its portfolio in Plexus Corp. (NASDAQ:PLXS). North Star Asset, a Wisconsin-based fund reported 24,531 shares. Tocqueville Asset Lp has 194,533 shares for 0.11% of their US portfolio. Arizona State Retirement Systems has invested 0.01% of its portfolio in Plexus Corp. (NASDAQ:PLXS). Metropolitan Life Insurance New York has invested 0.01% of its portfolio in Plexus Corp. (NASDAQ:PLXS).
Insider Transactions: Since May 25, 2016, the stock had 0 insider purchases, and 24 sales for $13.73 million net activity. Lim Yong Jin also sold $232,460 worth of Plexus Corp. (NASDAQ:PLXS) on Friday, August 26. On Friday, August 12 FOATE DEAN A sold $365,821 worth of the stock or 7,919 shares. $487,560 worth of Plexus Corp. (NASDAQ:PLXS) was sold by Kelsey Todd P.. 2,250 shares with value of $103,365 were sold by Ninivaggi Angelo Michael Jr on Monday, August 1. Shares for $626,462 were sold by MARTENS PHILIP R. Frisch Steven J. sold $197,645 worth of stock. 4,000 Plexus Corp. (NASDAQ:PLXS) shares with value of $203,200 were sold by KELLY PETER.
More recent Plexus Corp. (NASDAQ:PLXS) news were published by: Marketwatch.com which released: “Plexus downgraded to neutral from buy at B. Riley” on December 21, 2009. Also Quotes.Wsj.com published the news titled: “News Plexus Corp.PLXS” on February 13, 2011. Bizjournals.com‘s news article titled: “Plexus to close plant in California” with publication date: November 05, 2015 was also an interesting one.
PLXS Company Profile
Plexus Corp. (Plexus), incorporated on August 29, 1979, and its subsidiaries are engaged in the electronic manufacturing services (EMS) industry. Plexus delivers end-to-end solutions for clients in the Americas (AMER); Europe, Middle East and Africa (EMEA), and Asia-Pacific (APAC) regions. The Company’s divisions are AMER, APAC and EMEA. The Firm is involved in providing electronics design, manufacturing and aftermarket services to companies with mid-to-low volume, higher complexity products. The Firm delivers solutions to its clients through its product realization value stream. The Company’s solutions include conceptualize, design, commercialize, manufacture, fulfill and sustain. The Firm provides customer service to approximately 140 branded product companies in the networking/communications, healthcare/life sciences, industrial/commercial and defense/security/aerospace market sectors.
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