The stock of Plantronics Inc (NYSE:PLT) hit a new 52-week high and has $88.64 target or 65.00% above today’s $53.72 share price. The 6 months bullish chart indicates low risk for the $1.78 billion company. The 1-year high was reported on Nov, 21 by Barchart.com. If the $88.64 price target is reached, the company will be worth $1.16 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 32,705 shares traded hands. Plantronics Inc (NYSE:PLT) has risen 42.33% since April 19, 2016 and is uptrending. It has outperformed by 38.47% the S&P500.
Plantronics Inc (NYSE:PLT) Ratings Coverage
Out of 2 analysts covering Plantronics (NYSE:PLT), 0 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 0 are positive. Plantronics has been the topic of 5 analyst reports since January 15, 2016 according to StockzIntelligence Inc. On Wednesday, November 2 the stock rating was downgraded by JP Morgan to “Neutral”. JP Morgan upgraded the stock to “Overweight” rating in Monday, January 18 report. The company was upgraded on Wednesday, May 4 by Raymond James. The firm earned “Overweight” rating on Friday, January 15 by JP Morgan.
According to Zacks Investment Research, “Plantronics, Inc. is a leading designer, manufacturer and marketer of lightweight communications headsets and headset accessories and services. In addition, the company manufactures and markets specialty telephone products, such as amplified telephone handsets and specialty telephones for hearing-impaired users, and noise-canceling handsets for use in high-noise environments.”
Insitutional Activity: The institutional sentiment decreased to 0.83 in Q2 2016. Its down 0.10, from 0.93 in 2016Q1. The ratio fall, as 24 funds sold all Plantronics Inc shares owned while 70 reduced positions. 24 funds bought stakes while 63 increased positions. They now own 30.17 million shares or 1.11% less from 30.51 million shares in 2016Q1.
California State Teachers Retirement has invested 0.01% of its portfolio in Plantronics Inc (NYSE:PLT). Metropolitan Life Ins Ny reported 53,931 shares or 0.02% of all its holdings. Texas Permanent School Fund, a Texas-based fund reported 25,477 shares. Parametric Port Limited Liability owns 99,228 shares or 0.01% of their US portfolio. Pacad Ltd, a British Columbia – Canada-based fund reported 6,900 shares. Bridgeway Cap Mngmt Inc last reported 0.01% of its portfolio in the stock. Allianz Asset Ag holds 0% of its portfolio in Plantronics Inc (NYSE:PLT) for 13,440 shares. First Mercantile Trust accumulated 17,510 shares or 0.1% of the stock. Zebra Mngmt Limited Liability Company accumulated 4,761 shares or 0.07% of the stock. Wedge Cap L L P Nc has 0.21% invested in the company for 1.13 million shares. Evercore Wealth Ltd Llc accumulated 0.01% or 4,000 shares. Dimensional Fund Advsrs Limited Partnership has 830,306 shares for 0.02% of their US portfolio. The Massachusetts-based Fmr Ltd Liability Corp has invested 0% in Plantronics Inc (NYSE:PLT). Blackrock Advsrs Lc has invested 0% of its portfolio in Plantronics Inc (NYSE:PLT). Diam Limited last reported 6,600 shares in the company.
Insider Transactions: Since May 27, 2016, the stock had 0 buys, and 10 sales for $3.94 million net activity. 4,000 shares with value of $199,870 were sold by DEXHEIMER BRIAN S on Thursday, August 18. Shares for $762,286 were sold by KANNAPPAN S KENNETH. MOHR MARSHALL had sold 3,000 shares worth $133,087 on Friday, May 27. HOUSTON DONALD S also sold $1.15M worth of Plantronics Inc (NYSE:PLT) shares. BURTON JOSEPH B sold $151,187 worth of stock or 3,000 shares. TSEU MARVIN also sold $90,203 worth of Plantronics Inc (NYSE:PLT) shares.
More news for Plantronics Inc (NYSE:PLT) were recently published by: Reuters.com, which released: “BRIEF-Plantronics Inc’s Q2 results meet guidance” on November 01, 2016. Nasdaq.com‘s article titled: “Plantronics, Inc. (PLT) Ex-Dividend Date Scheduled for November 16, 2016” and published on November 15, 2016 is yet another important article.
PLT Company Profile
Plantronics, Inc. (Plantronics), incorporated on August 12, 1988, is engaged in the design, manufacture, and distribution of headsets for business and consumer applications, and other specialty products for the hearing impaired. The Firm is a global designer, maker and marketer of communications headsets, telephone headset systems, other communication endpoints and accessories for the business and consumer markets. The Firm develops communication products for offices and contact centers, mobile devices, cordless phones, and computers and gaming consoles. The Company’s product categories include Enterprise, which includes corded and cordless communication headsets, audio processors, and telephone systems, and Consumer, which includes Bluetooth and corded products for mobile device applications, personal computer (PC) and gaming headsets, and specialty products marketed for hearing impaired individuals. It offers its products under two brands: Plantronics and Clarity.
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