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 report released on Tuesday.

Preformed Line Products Stock Up 0.8 %

Shares of PLPC opened at $152.34 on Tuesday. The firm has a market capitalization of $752.71 million, a P/E ratio of 22.87 and a beta of 0.62. Preformed Line Products has a 12-month low of $109.01 and a 12-month high of $154.90. The company has a current ratio of 2.81, a quick ratio of 1.56 and a debt-to-equity ratio of 0.06. The firm has a fifty day moving average price of $135.06 and a 200-day moving average price of $130.07.

Preformed Line Products (NASDAQ:PLPC) last issued its earnings results on Thursday, March 13th. The technology company reported $2.13 earnings per share (EPS) for the quarter. The firm had revenue of $167.12 million during the quarter. Preformed Line Products had a net margin of 5.76% and a return on equity of 7.88%.

Institutional Trading of Preformed Line Products

A number of hedge funds have recently added to or reduced their stakes in the business. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Preformed Line Products in the fourth quarter worth about $1,712,000. Pullen Investment Management LLC purchased a new stake in Preformed Line Products in the fourth quarter worth about $605,000. Janus Henderson Group PLC lifted its stake in Preformed Line Products by 13.9% in the fourth quarter. Janus Henderson Group PLC now owns 8,983 shares of the technology company’s stock worth $1,149,000 after acquiring an additional 1,098 shares during the period. Northern Trust Corp lifted its stake in Preformed Line Products by 1.2% in the fourth quarter. Northern Trust Corp now owns 35,732 shares of the technology company’s stock worth $4,566,000 after acquiring an additional 429 shares during the period. Finally, First Trust Advisors LP lifted its stake in Preformed Line Products by 12.4% in the fourth quarter. First Trust Advisors LP now owns 22,481 shares of the technology company’s stock worth $2,873,000 after acquiring an additional 2,480 shares during the period. 41.19% of the stock is owned by hedge funds and other 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.