Northland Securities Analysts Give Plantronics (PLT) a $60.00 Price Target

Northland Securities set a $60.00 target price on Plantronics (NYSE:PLT) in a research note issued to investors on Friday morning. The firm currently has a buy rating on the technology company’s stock.

Several other research firms also recently issued reports on PLT. TheStreet raised Plantronics from a c+ rating to a b rating in a research note on Friday, November 24th. Sidoti raised Plantronics from a neutral rating to a buy rating and set a $60.00 price target on the stock in a research note on Tuesday, January 2nd. Roth Capital set a $55.00 price target on Plantronics and gave the company a buy rating in a research note on Wednesday, November 1st. Finally, Zacks Investment Research raised Plantronics from a sell rating to a hold rating in a research note on Tuesday, October 3rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. Plantronics currently has an average rating of Hold and a consensus price target of $58.75.

Plantronics (NYSE:PLT) traded up $0.68 during mid-day trading on Friday, reaching $55.04. The company’s stock had a trading volume of 215,300 shares, compared to its average volume of 176,500. The company has a current ratio of 6.44, a quick ratio of 5.90 and a debt-to-equity ratio of 1.27. The company has a market capitalization of $1,819.96, a price-to-earnings ratio of 22.65, a PEG ratio of 1.68 and a beta of 1.31. Plantronics has a 52-week low of $41.28 and a 52-week high of $58.27.

Plantronics (NYSE:PLT) last posted its earnings results on Tuesday, October 31st. The technology company reported $0.60 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.10. Plantronics had a return on equity of 20.12% and a net margin of 9.41%. sell-side analysts expect that Plantronics will post 2.19 earnings per share for the current year.

In other Plantronics news, Director Maria Martinez sold 2,874 shares of Plantronics stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $51.25, for a total value of $147,292.50. Following the sale, the director now owns 7,389 shares of the company’s stock, valued at approximately $378,686.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John Hart sold 21,083 shares of Plantronics stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $52.56, for a total value of $1,108,122.48. Following the completion of the sale, the director now directly owns 11,094 shares in the company, valued at approximately $583,100.64. The disclosure for this sale can be found here. Insiders sold a total of 27,145 shares of company stock worth $1,420,777 in the last three months. Company insiders own 3.20% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in PLT. Acrospire Investment Management LLC acquired a new stake in shares of Plantronics in the second quarter valued at about $126,000. Riverhead Capital Management LLC increased its position in shares of Plantronics by 85.5% in the second quarter. Riverhead Capital Management LLC now owns 2,597 shares of the technology company’s stock valued at $136,000 after acquiring an additional 1,197 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Plantronics by 17.6% in the second quarter. Victory Capital Management Inc. now owns 3,304 shares of the technology company’s stock valued at $173,000 after acquiring an additional 494 shares during the last quarter. Neuberger Berman Group LLC increased its position in shares of Plantronics by 0.8% in the second quarter. Neuberger Berman Group LLC now owns 3,839 shares of the technology company’s stock valued at $201,000 after acquiring an additional 31 shares during the last quarter. Finally, M&T Bank Corp increased its position in shares of Plantronics by 13.9% in the second quarter. M&T Bank Corp now owns 4,484 shares of the technology company’s stock valued at $235,000 after acquiring an additional 546 shares during the last quarter. 90.89% of the stock is currently owned by hedge funds and other institutional investors.

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Plantronics Company Profile

Plantronics, Inc (Plantronics) is engaged in the design, manufacture, and distribution of headsets for business and consumer applications, and other specialty products for the hearing impaired. The Company is a global designer, manufacturer and marketer of communications headsets, telephone headset systems, other communication endpoints and accessories for the business and consumer markets.

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