Preformed Line Products (NASDAQ:PLPC) Stock Rating Upgraded by StockNews.com

Preformed Line Products (NASDAQ:PLPC) was upgraded by equities research analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Monday.

Preformed Line Products Price Performance

Shares of Preformed Line Products stock traded up $1.84 during mid-day trading on Monday, reaching $126.30. 5,438 shares of the stock were exchanged, compared to its average volume of 15,083. Preformed Line Products has a fifty-two week low of $104.96 and a fifty-two week high of $141.66. The company has a market cap of $620.13 million, a price-to-earnings ratio of 15.50 and a beta of 0.61. The firm has a 50-day simple moving average of $121.01 and a 200 day simple moving average of $124.31. The company has a current ratio of 2.93, a quick ratio of 1.57 and a debt-to-equity ratio of 0.07.

Preformed Line Products (NASDAQ:PLPC) last posted its quarterly earnings data on Wednesday, July 31st. The technology company reported $1.89 earnings per share for the quarter. Preformed Line Products had a net margin of 6.90% and a return on equity of 9.83%. The company had revenue of $138.72 million during the quarter.

Institutional Trading of Preformed Line Products

Several large investors have recently made changes to their positions in the business. Innealta Capital LLC acquired a new position in Preformed Line Products during the 2nd quarter worth about $27,000. Allspring Global Investments Holdings LLC acquired a new stake in Preformed Line Products in the 2nd quarter valued at about $52,000. Mather Group LLC. bought a new position in shares of Preformed Line Products in the second quarter worth about $64,000. SG Americas Securities LLC acquired a new position in shares of Preformed Line Products during the third quarter worth approximately $119,000. Finally, Quest Partners LLC acquired a new position in shares of Preformed Line Products during the second quarter worth approximately $196,000. Institutional investors 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.