Plantronics Inc (NYSE:PLT) Receives $38.33 Consensus PT from Analysts

Plantronics Inc (NYSE:PLT) has been given a consensus rating of “Hold” by the nine ratings firms that are currently covering the firm, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $38.33.

Several equities research analysts have recently weighed in on the company. TheStreet lowered Plantronics from a “c-” rating to a “d+” rating in a research report on Wednesday, December 4th. ValuEngine raised Plantronics from a “sell” rating to a “hold” rating in a research report on Friday, March 20th. Zacks Investment Research raised Plantronics from a “hold” rating to a “buy” rating and set a $30.00 target price on the stock in a research report on Thursday, February 6th. JPMorgan Chase & Co. assumed coverage on Plantronics in a research report on Thursday, December 5th. They set a “neutral” rating and a $33.00 target price on the stock. Finally, Morgan Stanley lowered Plantronics from an “overweight” rating to an “equal weight” rating and set a $21.00 target price on the stock. in a research report on Wednesday, February 5th.

In other news, Director Brian S. Dexheimer purchased 2,100 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The shares were purchased at an average price of $14.56 per share, for a total transaction of $30,576.00. Following the purchase, the director now directly owns 112,436 shares of the company’s stock, valued at approximately $1,637,068.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Robert C. Hagerty purchased 10,000 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The shares were purchased at an average price of $14.17 per share, for a total transaction of $141,700.00. Following the purchase, the chief executive officer now directly owns 32,876 shares in the company, valued at $465,852.92. The disclosure for this purchase can be found here. Company insiders own 1.70% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in PLT. First Trust Advisors LP grew its stake in Plantronics by 46.2% during the 3rd quarter. First Trust Advisors LP now owns 13,520 shares of the technology company’s stock worth $505,000 after buying an additional 4,274 shares during the last quarter. Boston Partners purchased a new position in shares of Plantronics in the 3rd quarter valued at approximately $90,000. California State Teachers Retirement System grew its stake in shares of Plantronics by 1.2% in the 3rd quarter. California State Teachers Retirement System now owns 52,095 shares of the technology company’s stock valued at $1,944,000 after purchasing an additional 622 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in shares of Plantronics in the 3rd quarter valued at approximately $1,070,000. Finally, Public Employees Retirement System of Ohio grew its stake in shares of Plantronics by 0.4% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 123,683 shares of the technology company’s stock valued at $4,616,000 after purchasing an additional 508 shares during the last quarter. Hedge funds and other institutional investors own 99.87% of the company’s stock.

PLT stock traded down $1.53 during mid-day trading on Monday, reaching $10.22. The company had a trading volume of 1,242,120 shares, compared to its average volume of 1,300,959. The company has a debt-to-equity ratio of 2.76, a quick ratio of 0.97 and a current ratio of 1.42. The company has a market capitalization of $395.29 million, a price-to-earnings ratio of -2.37 and a beta of 1.80. The firm has a fifty day simple moving average of $12.13 and a 200 day simple moving average of $26.26. Plantronics has a fifty-two week low of $4.60 and a fifty-two week high of $53.92.

Plantronics (NYSE:PLT) last posted its quarterly earnings results on Tuesday, February 4th. The technology company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.16. The company had revenue of $392.00 million for the quarter, compared to analyst estimates of $399.15 million. Plantronics had a positive return on equity of 19.10% and a negative net margin of 9.69%. Plantronics’s revenue for the quarter was down 26.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.36 EPS. As a group, analysts predict that Plantronics will post 1.45 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Thursday, February 20th were paid a dividend of $0.15 per share. The ex-dividend date was Wednesday, February 19th. This represents a $0.60 dividend on an annualized basis and a yield of 5.87%. Plantronics’s dividend payout ratio is presently 15.00%.

About Plantronics

Plantronics, Inc designs, manufactures, and markets integrated communications and collaborations solutions for consumers and businesses worldwide. The company offers its communications and collaboration solutions for voice, video, and content sharing, as well as a line of support and services for the workplace under the Polycom brand.

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Analyst Recommendations for Plantronics (NYSE:PLT)

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