Plantronics (PLT) Hits New 1-Year High and Low at $63.91

Plantronics (NYSE:PLT)’s share price reached a new 52-week high and low during trading on Tuesday . The stock traded as low as $63.91 and last traded at $63.69, with a volume of 150079 shares trading hands. The stock had previously closed at $63.11.

Several equities analysts recently commented on the company. Sidoti raised Plantronics from a “neutral” rating to a “buy” rating and set a $60.00 target price on the stock in a report on Tuesday, January 2nd. TheStreet lowered Plantronics from a “b” rating to a “c” rating in a report on Friday, February 2nd. Roth Capital raised their price objective on Plantronics from $55.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, January 31st. Northland Securities set a $60.00 price objective on Plantronics and gave the stock a “buy” rating in a report on Friday, January 12th. Finally, ValuEngine raised Plantronics from a “hold” rating to a “buy” rating in a report on Thursday, March 29th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $60.00.

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The firm has a market capitalization of $2,087.40, a PE ratio of 26.14, a PEG ratio of 1.59 and a beta of 1.24. The company has a quick ratio of 6.16, a current ratio of 6.76 and a debt-to-equity ratio of 1.50.

Plantronics (NYSE:PLT) last issued its quarterly earnings data on Tuesday, January 30th. The technology company reported $1.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.23. The company had revenue of $226.50 million for the quarter, compared to analyst estimates of $220.17 million. Plantronics had a return on equity of 22.22% and a net margin of 1.03%. The business’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.79 earnings per share. analysts predict that Plantronics will post 2.5 earnings per share for the current fiscal year.

In other news, Director Brian S. Dexheimer sold 2,500 shares of the stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $58.52, for a total transaction of $146,300.00. Following the completion of the sale, the director now owns 18,002 shares in the company, valued at $1,053,477.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Joseph B. Burton sold 5,117 shares of the stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $57.51, for a total transaction of $294,278.67. Following the sale, the chief executive officer now owns 89,685 shares of the company’s stock, valued at approximately $5,157,784.35. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 11,450 shares of company stock worth $670,718. Corporate insiders own 3.20% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in PLT. C M Bidwell & Associates Ltd. acquired a new stake in shares of Plantronics during the fourth quarter worth about $195,000. Tower Research Capital LLC TRC boosted its stake in shares of Plantronics by 69.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,659 shares of the technology company’s stock worth $235,000 after buying an additional 1,904 shares during the period. LPL Financial LLC acquired a new stake in shares of Plantronics during the fourth quarter worth about $240,000. ING Groep NV acquired a new stake in shares of Plantronics during the fourth quarter worth about $251,000. Finally, Koch Industries Inc. acquired a new stake in shares of Plantronics during the fourth quarter worth about $277,000. Institutional investors and hedge funds own 94.18% of the company’s stock.

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Plantronics Company Profile

Plantronics, Inc designs, manufactures, and markets lightweight communications headsets, telephone headset systems, other communication endpoints, and accessories for the business and consumer markets under the Plantronics brand worldwide. The company also manufactures and markets specialty telephone products under the Clarity brand.

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