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

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

Preformed Line Products Trading Up 1.1 %

Shares of Preformed Line Products stock traded up $1.40 during trading on Tuesday, reaching $132.94. 8,049 shares of the company were exchanged, compared to its average volume of 14,751. The business has a 50-day moving average price of $125.49 and a 200-day moving average price of $125.25. The firm has a market capitalization of $651.41 million, a price-to-earnings ratio of 19.96 and a beta of 0.62. The company has a quick ratio of 1.56, a current ratio of 2.81 and a debt-to-equity ratio of 0.06. Preformed Line Products has a twelve month low of $109.01 and a twelve month high of $142.91.

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

Institutional Trading of Preformed Line Products

Several hedge funds have recently added to or reduced their stakes in the business. Easterly Investment Partners LLC acquired a new position in Preformed Line Products in the second quarter valued at about $1,658,000. FMR LLC grew its position in shares of Preformed Line Products by 27.7% in the 3rd quarter. FMR LLC now owns 25,091 shares of the technology company’s stock valued at $3,214,000 after purchasing an additional 5,442 shares during the period. Apis Capital Advisors LLC bought a new stake in Preformed Line Products during the 2nd quarter worth approximately $573,000. Ingalls & Snyder LLC acquired a new stake in Preformed Line Products during the 3rd quarter worth approximately $521,000. Finally, Koss Olinger Consulting LLC bought a new position in Preformed Line Products in the second quarter valued at approximately $447,000. Institutional investors and hedge funds own 41.19% of the company’s stock.

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.