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

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

Preformed Line Products Stock Up 9.4 %

Shares of NASDAQ PLPC opened at $134.94 on Thursday. Preformed Line Products has a 1 year low of $109.01 and a 1 year high of $141.66. The firm’s 50-day moving average is $122.12 and its 200-day moving average is $124.45. The company has a current ratio of 2.81, a quick ratio of 1.56 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $661.21 million, a PE ratio of 20.26 and a beta of 0.62.

Preformed Line Products (NASDAQ:PLPC) last issued its earnings results on Wednesday, October 30th. The technology company reported $1.54 EPS for the quarter. Preformed Line Products had a net margin of 5.76% and a return on equity of 7.88%. The company had revenue of $146.97 million during the quarter.

Institutional Investors Weigh In On Preformed Line Products

Several hedge funds have recently bought and sold shares of the company. Apis Capital Advisors LLC acquired a new position in Preformed Line Products in the second quarter valued at about $573,000. Easterly Investment Partners LLC bought a new stake in shares of Preformed Line Products in the second quarter valued at about $1,658,000. Janney Montgomery Scott LLC grew its holdings in shares of Preformed Line Products by 1.4% during the first quarter. Janney Montgomery Scott LLC now owns 14,166 shares of the technology company’s stock worth $1,823,000 after buying an additional 192 shares in the last quarter. American Century Companies Inc. raised its position in Preformed Line Products by 82.4% in the 2nd quarter. American Century Companies Inc. now owns 4,822 shares of the technology company’s stock valued at $601,000 after buying an additional 2,179 shares during the last quarter. Finally, Los Angeles Capital Management LLC lifted its stake in Preformed Line Products by 50.0% in the 2nd quarter. Los Angeles Capital Management LLC now owns 6,090 shares of the technology company’s stock valued at $758,000 after acquiring an additional 2,030 shares in the last quarter. 41.19% of the stock is currently owned by institutional investors and hedge funds.

About Preformed Line Products

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.