Plantronics Inc (NYSE:PLT) has received an average recommendation of “Buy” from the seven analysts that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $69.75.

A number of equities research analysts have commented on PLT shares. Evercore ISI started coverage on shares of Plantronics in a report on Thursday, June 27th. They issued an “outperform” rating and a $50.00 price target for the company. Cowen set a $61.00 price target on shares of Plantronics and gave the stock a “buy” rating in a report on Wednesday, August 7th. Northland Securities restated a “buy” rating and issued a $85.00 price target on shares of Plantronics in a report on Wednesday, May 8th. Zacks Investment Research cut shares of Plantronics from a “hold” rating to a “sell” rating in a report on Tuesday, August 13th. Finally, Sidoti set a $83.00 price target on shares of Plantronics and gave the stock a “buy” rating in a report on Wednesday, June 19th.

Several institutional investors have recently added to or reduced their stakes in the business. State Board of Administration of Florida Retirement System lifted its stake in shares of Plantronics by 2.1% in the first quarter. State Board of Administration of Florida Retirement System now owns 12,616 shares of the technology company’s stock valued at $582,000 after buying an additional 260 shares in the last quarter. Arizona State Retirement System lifted its stake in shares of Plantronics by 1.2% in the second quarter. Arizona State Retirement System now owns 23,806 shares of the technology company’s stock valued at $882,000 after buying an additional 282 shares in the last quarter. Penserra Capital Management LLC lifted its stake in shares of Plantronics by 50.0% in the first quarter. Penserra Capital Management LLC now owns 1,167 shares of the technology company’s stock valued at $53,000 after buying an additional 389 shares in the last quarter. Thrivent Financial for Lutherans lifted its stake in shares of Plantronics by 5.6% in the fourth quarter. Thrivent Financial for Lutherans now owns 8,365 shares of the technology company’s stock valued at $277,000 after buying an additional 442 shares in the last quarter. Finally, Royal Bank of Canada lifted its stake in shares of Plantronics by 49.7% in the second quarter. Royal Bank of Canada now owns 1,370 shares of the technology company’s stock valued at $51,000 after buying an additional 455 shares in the last quarter. 96.18% of the stock is currently owned by hedge funds and other institutional investors.

NYSE:PLT traded up $0.91 during trading hours on Friday, reaching $27.36. The company had a trading volume of 720,600 shares, compared to its average volume of 560,537. The company has a quick ratio of 0.99, a current ratio of 1.37 and a debt-to-equity ratio of 2.45. The firm has a market cap of $1.05 billion, a price-to-earnings ratio of 6.84 and a beta of 1.44. The business’s 50-day simple moving average is $35.10 and its two-hundred day simple moving average is $43.97. Plantronics has a twelve month low of $26.09 and a twelve month high of $68.71.

Plantronics (NYSE:PLT) last posted its quarterly earnings results on Tuesday, August 6th. The technology company reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $1.03 by $0.03. The business had revenue of $447.77 million during the quarter, compared to analysts’ expectations of $490.49 million. Plantronics had a negative net margin of 10.25% and a positive return on equity of 21.22%. The business’s quarterly revenue was up 102.3% on a year-over-year basis. During the same period last year, the company posted $0.74 earnings per share. As a group, equities analysts predict that Plantronics will post 4.57 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 20th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date of this dividend is Monday, August 19th. Plantronics’s payout ratio is 15.00%.

Plantronics Company Profile

Plantronics, Inc designs, manufactures, and markets integrated communications and collaborations solutions for consumers and businesses worldwide. The company offers its communications and collaboration solutions for voice, video, and content sharing, as well as a line of support and services for the workplace under the Polycom brand.

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