TheStreet lowered shares of Plantronics (NYSE:PLT) from a b- rating to a c+ rating in a research note issued to investors on Friday.

A number of other research analysts also recently commented on the stock. Sidoti raised shares of Plantronics from a neutral rating to a buy rating in a research report on Wednesday, August 8th. They noted that the move was a valuation call. Zacks Investment Research raised shares of Plantronics from a hold rating to a strong-buy rating and set a $92.00 price objective for the company in a research report on Saturday, July 7th. Finally, ValuEngine raised shares of Plantronics from a hold rating to a buy rating in a research report on Wednesday, May 23rd. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of Buy and a consensus target price of $68.00.

Plantronics stock opened at $60.80 on Friday. The firm has a market capitalization of $2.47 billion, a P/E ratio of 22.44 and a beta of 1.10. Plantronics has a 1-year low of $42.91 and a 1-year high of $82.28. The company has a quick ratio of 6.86, a current ratio of 7.40 and a debt-to-equity ratio of 1.32.

Plantronics (NYSE:PLT) last released its earnings results on Tuesday, August 7th. The technology company reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.07). Plantronics had a negative net margin of 0.60% and a positive return on equity of 25.39%. The business had revenue of $221.31 million during the quarter, compared to the consensus estimate of $207.79 million. research analysts anticipate that Plantronics will post 3.42 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Monday, September 10th. Investors of record on Monday, August 20th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.99%. The ex-dividend date of this dividend was Friday, August 17th. Plantronics’s payout ratio is 22.14%.

In related news, CEO Joseph B. Burton sold 3,506 shares of Plantronics stock in a transaction dated Monday, July 2nd. The shares were sold at an average price of $76.36, for a total transaction of $267,718.16. Following the completion of the sale, the chief executive officer now owns 113,574 shares of the company’s stock, valued at approximately $8,672,510.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold a total of 3,599 shares of company stock valued at $274,339 in the last ninety days. 1.70% of the stock is currently owned by insiders.

Hedge funds have recently made changes to their positions in the stock. Point72 Asset Management L.P. bought a new stake in shares of Plantronics during the 2nd quarter worth about $122,000. Cubist Systematic Strategies LLC bought a new stake in shares of Plantronics during the 2nd quarter worth about $212,000. Hsbc Holdings PLC bought a new stake in shares of Plantronics during the 1st quarter worth about $214,000. Burney Co. bought a new stake in shares of Plantronics during the 2nd quarter worth about $225,000. Finally, Crossmark Global Holdings Inc. bought a new stake in shares of Plantronics during the 2nd quarter worth about $242,000. 79.64% of the stock is owned by institutional investors and hedge funds.

Plantronics Company Profile

Plantronics, Inc designs, manufactures, and markets lightweight communications headsets, telephone headset systems, other communication endpoints, and accessories for the business and consumer markets under the Plantronics brand worldwide. The company also manufactures and markets specialty telephone products under the Clarity brand.

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