Plantronics (NYSE:PLT) was upgraded by Zacks from an “underperform” rating to a “neutral” rating in a note issued to investors on Tuesday, Analyst RN reports. The firm currently has a $47.50 price objective on the stock. Zacks‘ price objective would indicate a potential upside of 2.26% from the stock’s previous close.
Plantronics (NYSE:PLT) opened at 46.45 on Tuesday. Plantronics has a 52 week low of $36.87 and a 52 week high of $49.84. The stock has a 50-day moving average of $44.23 and a 200-day moving average of $45.37. The company has a market cap of $1.989 billion and a P/E ratio of 18.76.
Plantronics (NYSE:PLT) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $0.64 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.65 by $0.01. The company had revenue of $194.00 million for the quarter, compared to the consensus estimate of $195.80 million. During the same quarter in the previous year, the company posted $0.70 earnings per share. The company’s revenue for the quarter was up 8.2% on a year-over-year basis. On average, analysts predict that Plantronics will post $2.64 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Roth Capital cut their price target on shares of Plantronics from $53.00 to $50.00 in a research note to investors on Wednesday, October 30th. They now have a “buy” rating on the stock. Separately, analysts at Raymond James downgraded shares of Plantronics from an “outperform” rating to a “market perform” rating in a research note to investors on Wednesday, October 30th. They now have a $52.00 price target on the stock. Finally, analysts at Northland Securities raised their price target on shares of Plantronics from $51.00 to $53.00 in a research note to investors on Tuesday, October 15th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $50.88.
Plantronics, Inc is a designer, manufacturer and marketer of lightweight communications headsets, telephone headset systems and accessories for the worldwide business and consumer markets under the Plantronics brand.
To view Zacks’ full report, visit www.zacks.com