Plexus (NASDAQ:PLXS) Updates Q3 Earnings Guidance

Plexus (NASDAQ:PLXS) updated its third quarter earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $1.22-1.37 for the period, compared to the consensus estimate of $1.09. The company issued revenue guidance of $960 million – $1 billion, compared to the consensus revenue estimate of $1.02 billion.

Analysts Set New Price Targets

Several equities analysts recently commented on PLXS shares. Sidoti lowered shares of Plexus from a buy rating to a neutral rating and set a $112.00 price target for the company. in a research report on Tuesday, January 9th. Benchmark reiterated a buy rating and set a $110.00 price objective on shares of Plexus in a research note on Wednesday, January 17th. TheStreet downgraded shares of Plexus from a b rating to a c+ rating in a research note on Tuesday, February 13th. Finally, Needham & Company LLC decreased their price objective on shares of Plexus from $110.00 to $107.00 and set a buy rating for the company in a research note on Thursday, January 25th. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $109.67.

Plexus Stock Performance

Shares of PLXS stock traded down $0.91 during trading hours on Wednesday, reaching $95.67. The stock had a trading volume of 114,744 shares, compared to its average volume of 116,832. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.52 and a quick ratio of 0.62. Plexus has a twelve month low of $83.84 and a twelve month high of $114.06. The firm has a 50-day simple moving average of $94.32 and a 200-day simple moving average of $98.39. The firm has a market capitalization of $2.64 billion, a PE ratio of 21.34 and a beta of 1.02.

Plexus (NASDAQ:PLXS) last released its earnings results on Thursday, January 25th. The technology company reported $1.04 EPS for the quarter, missing the consensus estimate of $1.05 by ($0.01). The company had revenue of $982.61 million for the quarter, compared to analyst estimates of $982.57 million. Plexus had a net margin of 3.08% and a return on equity of 12.16%. The firm’s quarterly revenue was down 10.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.49 EPS. As a group, equities analysts forecast that Plexus will post 4.25 earnings per share for the current year.

Insider Activity

In other Plexus news, insider Michael J. Running sold 542 shares of the firm’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $95.60, for a total value of $51,815.20. Following the completion of the transaction, the insider now directly owns 1,569 shares in the company, valued at $149,996.40. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, insider Michael J. Running sold 633 shares of the stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $97.99, for a total value of $62,027.67. Following the completion of the sale, the insider now directly owns 1,569 shares of the company’s stock, valued at $153,746.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael J. Running sold 542 shares of the stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $95.60, for a total transaction of $51,815.20. Following the completion of the sale, the insider now directly owns 1,569 shares of the company’s stock, valued at $149,996.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 32,453 shares of company stock worth $3,112,875. Corporate insiders own 2.39% of the company’s stock.

Plexus Company Profile

Plexus Corp. provides electronic manufacturing services in the United States and internationally. It offers design, develop, supply chain, new product introduction, and manufacturing solutions, as well as sustaining services to companies in the healthcare/life sciences, industrial/commercial, aerospace/defense, and communications market sectors.