Analysts Set Plantronics Inc (NYSE:PLT) Target Price at $38.33

Shares of Plantronics Inc (NYSE:PLT) have earned a consensus rating of “Hold” from the nine analysts that are presently covering the stock, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $38.33.

A number of equities research analysts have issued reports on the company. JPMorgan Chase & Co. assumed coverage on Plantronics in a research report on Thursday, December 5th. They set a “neutral” rating and a $33.00 price target for the company. TheStreet downgraded Plantronics from a “c-” rating to a “d+” rating in a research report on Wednesday, December 4th. Sidoti downgraded Plantronics from a “buy” rating to a “neutral” rating in a research report on Wednesday, February 5th. ValuEngine raised Plantronics from a “sell” rating to a “hold” rating in a research report on Friday, March 20th. Finally, Morgan Stanley downgraded Plantronics from an “overweight” rating to an “equal weight” rating and set a $21.00 price target for the company. in a research report on Wednesday, February 5th.

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

Several hedge funds and other institutional investors have recently modified their holdings of PLT. First Trust Advisors LP boosted its position in shares of Plantronics by 46.2% in the third 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 period. Boston Partners purchased a new stake in shares of Plantronics in the third quarter worth about $90,000. California State Teachers Retirement System boosted its position in shares of Plantronics by 1.2% in the third quarter. California State Teachers Retirement System now owns 52,095 shares of the technology company’s stock worth $1,944,000 after buying an additional 622 shares during the period. Point72 Asset Management L.P. purchased a new stake in shares of Plantronics in the third quarter worth about $1,070,000. Finally, Public Employees Retirement System of Ohio boosted its position in shares of Plantronics by 0.4% in the third quarter. Public Employees Retirement System of Ohio now owns 123,683 shares of the technology company’s stock worth $4,616,000 after buying an additional 508 shares during the period. 99.87% of the stock is owned by institutional investors.

Shares of NYSE:PLT traded down $1.53 during midday trading on Monday, reaching $10.22. The company’s stock had a trading volume of 1,242,120 shares, compared to its average volume of 1,300,959. The firm has a market cap of $395.29 million, a price-to-earnings ratio of -2.37 and a beta of 1.80. The company has a quick ratio of 0.97, a current ratio of 1.42 and a debt-to-equity ratio of 2.76. Plantronics has a 1 year low of $4.60 and a 1 year high of $53.92. The business has a 50 day moving average price of $12.13 and a 200 day moving average price of $26.26.

Plantronics (NYSE:PLT) last announced its quarterly earnings data on Tuesday, February 4th. The technology company reported $0.30 EPS for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.16. The business had revenue of $392.00 million during the quarter, compared to the consensus estimate of $399.15 million. Plantronics had a positive return on equity of 19.10% and a negative net margin of 9.69%. The business’s revenue for the quarter was down 26.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.36 earnings per share. Sell-side analysts anticipate that Plantronics will post 1.45 earnings per share for the current fiscal year.

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

Featured Story: Reverse Stock Split

Analyst Recommendations for Plantronics (NYSE:PLT)

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