Preformed Line Products (NASDAQ:PLPC) Rating Increased to Strong-Buy at StockNews.com

StockNews.com upgraded shares of Preformed Line Products (NASDAQ:PLPC) from a buy rating to a strong-buy rating in a research note issued to investors on Tuesday.

Preformed Line Products Stock Performance

Shares of PLPC opened at $151.20 on Tuesday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.56 and a current ratio of 2.81. Preformed Line Products has a 1 year low of $109.01 and a 1 year high of $154.90. The firm has a fifty day moving average of $134.53 and a 200-day moving average of $129.92. The company has a market cap of $747.08 million, a price-to-earnings ratio of 22.70 and a beta of 0.62.

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

Institutional Investors Weigh In On Preformed Line Products

Several hedge funds have recently modified their holdings of PLPC. Martingale Asset Management L P lifted its holdings in shares of Preformed Line Products by 0.9% in the fourth quarter. Martingale Asset Management L P now owns 9,131 shares of the technology company’s stock valued at $1,167,000 after purchasing an additional 80 shares in the last quarter. Private Advisor Group LLC raised its position in Preformed Line Products by 3.6% during the fourth quarter. Private Advisor Group LLC now owns 2,855 shares of the technology company’s stock valued at $365,000 after buying an additional 100 shares during the period. SG Americas Securities LLC lifted its stake in Preformed Line Products by 13.1% in the 4th quarter. SG Americas Securities LLC now owns 1,053 shares of the technology company’s stock worth $135,000 after acquiring an additional 122 shares in the last quarter. Invesco Ltd. lifted its stake in Preformed Line Products by 0.4% in the 4th quarter. Invesco Ltd. now owns 41,204 shares of the technology company’s stock worth $5,265,000 after acquiring an additional 172 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Preformed Line Products by 0.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 32,760 shares of the technology company’s stock worth $4,186,000 after acquiring an additional 186 shares during the period. 41.19% of the stock is owned by hedge funds and other institutional investors.

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.