Preformed Line Products (NASDAQ:PLPC) Stock Rating Upgraded by StockNews.com

Preformed Line Products (NASDAQ:PLPC) was upgraded by equities research analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Tuesday.

Preformed Line Products Stock Up 1.1 %

Shares of PLPC traded up $1.40 during mid-day trading on Tuesday, hitting $132.94. 8,049 shares of the company’s stock were exchanged, compared to its average volume of 14,751. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.81 and a quick ratio of 1.56. Preformed Line Products has a 52 week low of $109.01 and a 52 week high of $142.91. The company has a market cap of $651.41 million, a PE ratio of 19.96 and a beta of 0.62. The company has a 50-day simple moving average of $125.49 and a 200 day simple moving average of $125.25.

Preformed Line Products (NASDAQ:PLPC) last released its earnings results on Wednesday, October 30th. The technology company reported $1.54 earnings per share for the quarter. Preformed Line Products had a net margin of 5.76% and a return on equity of 7.88%. The business had revenue of $146.97 million during the quarter.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Innealta Capital LLC acquired a new position in shares of Preformed Line Products during the 2nd quarter worth about $27,000. Allspring Global Investments Holdings LLC bought a new stake in Preformed Line Products in the second quarter valued at approximately $52,000. Mather Group LLC. acquired a new stake in shares of Preformed Line Products in the second quarter valued at approximately $64,000. Truvestments Capital LLC acquired a new position in shares of Preformed Line Products during the 3rd quarter worth approximately $103,000. Finally, SG Americas Securities LLC bought a new stake in Preformed Line Products in the 3rd quarter valued at $119,000. 41.19% of the stock is currently owned by institutional investors.

Preformed Line Products Company Profile

Preformed Line Products Company, together with its subsidiaries, designs and manufactures products and systems that are used in the construction and maintenance of overhead, ground-mounted, and underground networks for the energy, telecommunication, cable, data communication, and other industries. The company offers optical ground wire products to support, protect, terminate, and splice transmission and distribution lines, as well as bolted, welded, and compressed connectors for substations; and string hardware products, polymer insulators, wildlife protection, substation fittings, and motion control devices.