BidaskClub Downgrades Preformed Line Products (PLPC) to Sell

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Preformed Line Products (NASDAQ:PLPC) was downgraded by investment analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday.

PLPC opened at $76.88 on Friday. Preformed Line Products has a twelve month low of $55.41 and a twelve month high of $96.83. The company has a debt-to-equity ratio of 0.16, a current ratio of 3.31 and a quick ratio of 2.02. The stock has a market cap of $388.33 million, a P/E ratio of 23.58 and a beta of 1.19.

Preformed Line Products (NASDAQ:PLPC) last released its quarterly earnings results on Friday, August 3rd. The technology company reported $1.33 earnings per share for the quarter. Preformed Line Products had a net margin of 4.77% and a return on equity of 7.94%. The firm had revenue of $108.92 million during the quarter.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. California Public Employees Retirement System raised its position in shares of Preformed Line Products by 17.8% during the 2nd quarter. California Public Employees Retirement System now owns 5,890 shares of the technology company’s stock worth $523,000 after purchasing an additional 890 shares during the last quarter. Strs Ohio grew its stake in Preformed Line Products by 44.0% during the 2nd quarter. Strs Ohio now owns 3,600 shares of the technology company’s stock valued at $319,000 after acquiring an additional 1,100 shares in the last quarter. Ramsey Quantitative Systems grew its stake in Preformed Line Products by 61.4% during the 2nd quarter. Ramsey Quantitative Systems now owns 2,998 shares of the technology company’s stock valued at $266,000 after acquiring an additional 1,141 shares in the last quarter. UBS Group AG grew its stake in Preformed Line Products by 169.2% during the 1st quarter. UBS Group AG now owns 1,987 shares of the technology company’s stock valued at $130,000 after acquiring an additional 1,249 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Preformed Line Products by 150.0% during the 1st quarter. JPMorgan Chase & Co. now owns 2,335 shares of the technology company’s stock valued at $152,000 after acquiring an additional 1,401 shares in the last quarter. Hedge funds and other institutional investors own 45.22% of the company’s stock.

About Preformed Line Products

Preformed Line Products Company, together with its subsidiaries, designs and manufactures products and systems used in the construction and maintenance of overhead and underground networks for the energy, telecommunication, cable operator, information, and other industries. The company offers formed wire and related hardware products to support, protect, terminate, and secure power conductor and communication cables, as well as to control cable dynamics; and hardware products to support and protect transmission conductors, spacers, spacer-dampers, stockbridge dampers, corona suppression devices, and various compression fittings for dead-end applications.

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