Preformed Line Products (NASDAQ:PLPC) Upgraded by BidaskClub to “Sell”

Share on StockTwits

BidaskClub upgraded shares of Preformed Line Products (NASDAQ:PLPC) from a strong sell rating to a sell rating in a report published on Thursday, BidAskClub reports.

PLPC has been the subject of a number of other research reports. ValuEngine raised Preformed Line Products from a hold rating to a buy rating in a research report on Thursday, August 1st. TheStreet raised Preformed Line Products from a c+ rating to a b- rating in a research report on Wednesday, July 31st.

PLPC stock traded down $0.55 during trading on Thursday, reaching $57.35. 6,698 shares of the stock traded hands, compared to its average volume of 4,651. The business’s 50 day moving average price is $51.62 and its 200-day moving average price is $53.22. Preformed Line Products has a 52-week low of $45.12 and a 52-week high of $81.08. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.84 and a quick ratio of 1.73. The firm has a market capitalization of $291.20 million, a PE ratio of 12.32 and a beta of 1.49.

Preformed Line Products (NASDAQ:PLPC) last posted its quarterly earnings results on Friday, August 2nd. The technology company reported $1.56 earnings per share (EPS) for the quarter. Preformed Line Products had a return on equity of 9.58% and a net margin of 5.65%. The firm had revenue of $114.84 million during the quarter.

A number of hedge funds have recently bought and sold shares of PLPC. Vanguard Group Inc. lifted its stake in shares of Preformed Line Products by 11.6% during the second quarter. Vanguard Group Inc. now owns 138,702 shares of the technology company’s stock worth $7,701,000 after purchasing an additional 14,472 shares in the last quarter. BlackRock Inc. lifted its stake in shares of Preformed Line Products by 12.7% during the second quarter. BlackRock Inc. now owns 181,514 shares of the technology company’s stock worth $10,077,000 after purchasing an additional 20,444 shares in the last quarter. HighTower Advisors LLC acquired a new position in shares of Preformed Line Products during the second quarter worth about $8,815,000. Captrust Financial Advisors lifted its stake in shares of Preformed Line Products by 70.6% during the second quarter. Captrust Financial Advisors now owns 2,174 shares of the technology company’s stock worth $121,000 after purchasing an additional 900 shares in the last quarter. Finally, RBF Capital LLC acquired a new position in shares of Preformed Line Products during the second quarter worth about $289,000. 48.18% of the stock is owned by hedge funds and other institutional investors.

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.

Featured Article: What is a CD ladder?

Receive News & Ratings for Preformed Line Products Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Preformed Line Products and related companies with MarketBeat.com's FREE daily email newsletter.