What’s Plantronics, Inc. (PLT) Upside After Making 52-Week High?

May 17, 2018 - By Alfred Lee

Plantronics, Inc. (NYSE:PLT) Logo

Investors sentiment decreased to 1.06 in 2017 Q4. Its down 0.13, from 1.19 in 2017Q3. It is negative, as 13 investors sold Plantronics, Inc. shares while 69 reduced holdings. 38 funds opened positions while 49 raised stakes. 29.76 million shares or 0.41% more from 29.64 million shares in 2017Q3 were reported.
3,521 are held by Riverhead Cap Management Limited Liability Corp. Neuberger Berman Gp Ltd Llc holds 4,122 shares or 0% of its portfolio. Jacobs Levy Equity Mgmt stated it has 0.14% of its portfolio in Plantronics, Inc. (NYSE:PLT). Parametric Portfolio Assocs accumulated 79,772 shares. Great West Life Assurance Co Can stated it has 0% in Plantronics, Inc. (NYSE:PLT). First Citizens National Bank And Company accumulated 6,075 shares. Louisiana State Employees Retirement System owns 8,400 shares. Ameriprise Financial holds 0% or 170,433 shares in its portfolio. Thrivent Fincl For Lutherans reported 97,854 shares. Amundi Pioneer Asset Mngmt holds 0% or 1,458 shares in its portfolio. Royal Fincl Bank Of Canada stated it has 0% of its portfolio in Plantronics, Inc. (NYSE:PLT). Guggenheim invested in 0% or 6,633 shares. Chicago Equity Ltd Co invested in 104,795 shares or 0.16% of the stock. New York-based Retail Bank Of Mellon has invested 0.01% in Plantronics, Inc. (NYSE:PLT). Group Incorporated holds 89,917 shares or 0.01% of its portfolio.

Since January 31, 2018, it had 0 buys, and 12 sales for $1.04 million activity. $199,577 worth of Plantronics, Inc. (NYSE:PLT) was sold by MOHR MARSHALL on Tuesday, May 8. DEXHEIMER BRIAN S had sold 2,500 shares worth $146,300. The insider TSEU MARVIN sold 3,000 shares worth $200,016. $258,732 worth of Plantronics, Inc. (NYSE:PLT) was sold by Strayer Pamela J on Monday, May 7.

The stock of Plantronics, Inc. (NYSE:PLT) hit a new 52-week high and has $75.05 target or 8.00 % above today’s $69.49 share price. The 9 months bullish chart indicates low risk for the $2.31 billion company. The 1-year high was reported on May, 17 by Barchart.com. If the $75.05 price target is reached, the company will be worth $184.88 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock.

The stock increased 1.56% or $1.07 during the last trading session, reaching $69.49. About 190,047 shares traded. Plantronics, Inc. (NYSE:PLT) has risen 2.93% since May 17, 2017 and is uptrending. It has underperformed by 8.62% the S&P500.

Analysts await Plantronics, Inc. (NYSE:PLT) to report earnings on July, 26. They expect $0.49 EPS, down 5.77 % or $0.03 from last year’s $0.52 per share. PLT’s profit will be $16.30 million for 35.45 P/E if the $0.49 EPS becomes a reality. After $0.85 actual EPS reported by Plantronics, Inc. for the previous quarter, Wall Street now forecasts -42.35 % negative EPS growth.

Plantronics, Inc. (NYSE:PLT) Ratings Coverage

Among 3 analysts covering Plantronics Inc. (NYSE:PLT), 3 have Buy rating, 0 Sell and 0 Hold. Therefore 100% are positive. Plantronics Inc. had 6 analyst reports since January 2, 2018 according to SRatingsIntel. Roth Capital maintained the shares of PLT in report on Wednesday, January 31 with “Buy” rating. The rating was upgraded by Sidoti to “Buy” on Thursday, March 29. Northland Capital maintained the stock with “Buy” rating in Thursday, January 11 report. The stock has “Buy” rating by Northland Capital on Wednesday, January 31. The stock has “Buy” rating by Sidoti on Tuesday, January 2. The firm has “Neutral” rating given on Thursday, February 1 by Sidoti.

More notable recent Plantronics, Inc. (NYSE:PLT) news were published by: Seekingalpha.com which released: “Plantronics’ (PLT) CEO Joe Burton on Q4 2018 Results – Earnings Call Transcript” on May 02, 2018, also Seekingalpha.com with their article: “Plantronics Inc. 2018 Q4 – Results – Earnings Call Slides” published on May 02, 2018, Globenewswire.com published: “Plantronics Announces Fourth Quarter and Fiscal Year 2018 Financial Results” on May 01, 2018. More interesting news about Plantronics, Inc. (NYSE:PLT) were released by: Gurufocus.com and their article: “Plantronics Inc (PLT) Files 10-K for the Fiscal Year Ended on March 31, 2018” published on May 09, 2018 as well as Benzinga.com‘s news article titled: “Earnings Preview For Plantronics” with publication date: May 01, 2018.

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 has market cap of $2.31 billion. The firm also makes and markets specialty telephone products under the Clarity brand. It has a 255.48 P/E ratio. The Company’s primary products include corded and cordless communication headsets; audio processors; telephone systems; Bluetooth and corded products; personal computer and gaming headsets; and specialty products for hearing impaired individuals.

Plantronics, Inc. (NYSE:PLT) Institutional Positions Chart

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