Plexus Corp. (PLXS)’s Double Bottom Chart Pattern Points to Higher Stock Risks

September 17, 2017 - By Henry Gaston

Investors sentiment decreased to 0.81 in Q4 2016. Its down 0.63, from 1.44 in 2016Q3. It dropped, as 25 investors sold Plexus Corp. shares while 73 reduced holdings. 28 funds opened positions while 51 raised stakes. 30.60 million shares or 1.33% less from 31.01 million shares in 2016Q3 were reported.
Ubs Asset Management Americas has invested 0% in Plexus Corp. (NASDAQ:PLXS). Capstone Asset Mgmt stated it has 9,889 shares. Louisiana State Employees Retirement System, a Louisiana-based fund reported 13,500 shares. Ahl Partners Limited Liability Partnership holds 0.2% or 122,349 shares. Price T Rowe Assoc Incorporated Md invested in 0% or 11,750 shares. Creative Planning has 0% invested in Plexus Corp. (NASDAQ:PLXS) for 1,200 shares. 31,233 were reported by Aqr Capital Management Ltd Com. Acadian Asset Mngmt Lc holds 0% of its portfolio in Plexus Corp. (NASDAQ:PLXS) for 12 shares. Bnp Paribas Arbitrage has 7,489 shares for 0% of their portfolio. Parametric Associates Limited Liability Corporation invested 0.01% in Plexus Corp. (NASDAQ:PLXS). Valley Natl Advisers reported 50 shares. 482 were accumulated by Fifth Third Savings Bank. Vanguard Grp reported 3.05 million shares stake. Susquehanna Int Gru Llp owns 0% invested in Plexus Corp. (NASDAQ:PLXS) for 33,312 shares. Voya Management Ltd Company holds 0.03% or 265,429 shares.

Since May 1, 2017, it had 0 insider buys, and 4 insider sales for $913,806 activity. DRURY DAVID J also sold $260,215 worth of Plexus Corp. (NASDAQ:PLXS) shares. The insider Ninivaggi Angelo Michael Jr sold 2,500 shares worth $130,116. FOATE DEAN A had sold 5,000 shares worth $266,625.

The chart of Plexus Corp. (PLXS) shows a double bottom with $48.47 target or 8.00 % below today’s $52.69 share price. The 6 months chart pattern indicates high risk for the $1.77 billion company. It was reported on Sep, 17 by Finviz.com. If the $48.47 price target is reached, the company will be worth $141.60 million less. Double bottoms are rare but powerful chart patterns.

The stock increased 0.46% or $0.24 on September 15, reaching $52.69. About 227,329 shares traded or 92.30% up from the average. Plexus Corp. (NASDAQ:PLXS) has risen 19.78% since September 17, 2016 and is uptrending. It has outperformed by 3.08% the S&P500.

Investors wait Plexus Corp. (NASDAQ:PLXS) to report on October, 25. its quarterly earnings Wall Street analysts expect $0.82 EPS, up $0.15 or 22.39 % from last year’s $0.67 same quarter earnings. This translates into $27.55 million profit for PLXS giving the stock a 16.06 P/E. This is assuming the current $0.82 EPS is accurate. Plexus Corp.’s Wall Street analysts see 10.81 % EPS growth, taking into account the $0.74 EPS reproted in the previous quarter,

Plexus Corp. (NASDAQ:PLXS) Ratings Coverage

Among 11 analysts covering Plexus (NASDAQ:PLXS), 4 have Buy rating, 0 Sell and 7 Hold. Therefore 36% are positive. Plexus had 19 analyst reports since August 3, 2015 according to SRatingsIntel. The stock of Plexus Corp. (NASDAQ:PLXS) has “Add” rating given on Wednesday, November 18 by Numis Securities. The rating was maintained by Citigroup with “Neutral” on Friday, July 21. The stock has “Buy” rating by Goldman Sachs on Monday, August 3. As per Friday, July 24, the company rating was maintained by Needham. As per Monday, August 28, the company rating was upgraded by JP Morgan. The stock has “Hold” rating by Stifel Nicolaus on Sunday, September 10. The stock of Plexus Corp. (NASDAQ:PLXS) earned “Hold” rating by Deutsche Bank on Friday, July 21. Needham maintained it with “Buy” rating and $63.0 target in Wednesday, August 30 report. On Thursday, December 15 the stock rating was downgraded by Longbow to “Neutral”. Needham maintained Plexus Corp. (NASDAQ:PLXS) rating on Friday, July 22. Needham has “Buy” rating and $52 target.

More recent Plexus Corp. (NASDAQ:PLXS) news were published by: Zacks.com which released: “Is Plexus Corp. (PLXS) a Great Stock for Value Investors?” on April 11, 2017. Also Zacks.com published the news titled: “Is Plexus Corp. (PLXS) Stock a Solid Choice Right Now? April 13, 2017” on April 13, 2017. Seekingalpha.com‘s news article titled: “Plexus: Better Numbers And Better Outlook Still Don’t Look Like Enough” with publication date: September 06, 2017 was also an interesting one.

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