StockNews.com Upgrades Preformed Line Products (NASDAQ:PLPC) to “Strong-Buy”

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

Preformed Line Products Stock Performance

Shares of PLPC stock opened at $138.42 on Tuesday. The firm has a market capitalization of $683.79 million, a price-to-earnings ratio of 20.78 and a beta of 0.75. Preformed Line Products has a 12 month low of $109.01 and a 12 month high of $154.90. The business’s 50-day moving average price is $137.55 and its 200-day moving average price is $134.89. The company has a current ratio of 2.81, a quick ratio of 1.56 and a debt-to-equity ratio of 0.06.

Preformed Line Products (NASDAQ:PLPC) last issued its quarterly earnings data on Thursday, May 1st. The technology company reported $2.33 earnings per share (EPS) for the quarter. Preformed Line Products had a return on equity of 7.88% and a net margin of 5.76%. The company had revenue of $148.54 million during the quarter.

Institutional Investors Weigh In On Preformed Line Products

A number of hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC increased its holdings in shares of Preformed Line Products by 13.1% during the fourth quarter. SG Americas Securities LLC now owns 1,053 shares of the technology company’s stock valued at $135,000 after acquiring an additional 122 shares in the last quarter. Wells Fargo & Company MN boosted its position in Preformed Line Products by 28.7% in the fourth quarter. Wells Fargo & Company MN now owns 1,409 shares of the technology company’s stock worth $180,000 after purchasing an additional 314 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC purchased a new position in Preformed Line Products in the first quarter worth $308,000. Private Advisor Group LLC raised its stake in shares of Preformed Line Products by 3.6% in the fourth quarter. Private Advisor Group LLC now owns 2,855 shares of the technology company’s stock valued at $365,000 after buying an additional 100 shares during the period. Finally, New York State Common Retirement Fund raised its stake in shares of Preformed Line Products by 121.1% in the first quarter. New York State Common Retirement Fund now owns 2,921 shares of the technology company’s stock valued at $409,000 after buying an additional 1,600 shares during the period. 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.