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

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

Preformed Line Products Stock Performance

PLPC stock opened at $152.34 on Tuesday. Preformed Line Products has a one year low of $109.01 and a one year high of $154.90. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.56 and a current ratio of 2.81. The firm has a market cap of $752.71 million, a price-to-earnings ratio of 22.87 and a beta of 0.62. The firm has a 50-day simple moving average of $135.06 and a two-hundred day simple moving average of $130.07.

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

Hedge Funds Weigh In On Preformed Line Products

Hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. increased its holdings in shares of Preformed Line Products by 93.3% during the third quarter. JPMorgan Chase & Co. now owns 8,119 shares of the technology company’s stock valued at $1,040,000 after acquiring an additional 3,919 shares in the last quarter. Franklin Resources Inc. raised its position in Preformed Line Products by 21.3% during the 3rd quarter. Franklin Resources Inc. now owns 3,161 shares of the technology company’s stock worth $389,000 after buying an additional 556 shares during the last quarter. FMR LLC raised its position in Preformed Line Products by 27.7% during the 3rd quarter. FMR LLC now owns 25,091 shares of the technology company’s stock worth $3,214,000 after buying an additional 5,442 shares during the last quarter. Ingalls & Snyder LLC purchased a new position in Preformed Line Products during the 3rd quarter worth approximately $521,000. Finally, Barclays PLC raised its position in Preformed Line Products by 135.6% during the 3rd quarter. Barclays PLC now owns 4,989 shares of the technology company’s stock worth $638,000 after buying an additional 2,871 shares during the last quarter. Institutional investors and hedge funds own 41.19% of the company’s stock.

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.