Preformed Line Products (NASDAQ:PLPC) Stock Rating Upgraded by 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 to investors on Thursday.

Preformed Line Products Stock Up 2.8 %

Shares of PLPC opened at $140.84 on Thursday. The company has a quick ratio of 1.56, a current ratio of 2.81 and a debt-to-equity ratio of 0.06. The business has a fifty day moving average of $122.88 and a 200 day moving average of $124.66. The company has a market cap of $690.12 million, a PE ratio of 21.15 and a beta of 0.62. Preformed Line Products has a 52-week low of $109.01 and a 52-week high of $141.66.

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

Institutional Trading of Preformed Line Products

Several institutional investors and hedge funds have recently made changes to their positions in the business. Quest Partners LLC boosted its holdings in shares of Preformed Line Products by 62.4% in the third quarter. Quest Partners LLC now owns 2,554 shares of the technology company’s stock valued at $327,000 after purchasing an additional 981 shares during the period. Summit Global Investments purchased a new stake in shares of Preformed Line Products in the 3rd quarter worth $345,000. Private Advisor Group LLC grew its position in shares of Preformed Line Products by 4.8% during the 3rd quarter. Private Advisor Group LLC now owns 2,755 shares of the technology company’s stock worth $353,000 after buying an additional 125 shares in the last quarter. Koss Olinger Consulting LLC grew its position in shares of Preformed Line Products by 3.8% during the 3rd quarter. Koss Olinger Consulting LLC now owns 3,726 shares of the technology company’s stock worth $477,000 after buying an additional 138 shares in the last quarter. Finally, Cardinal Capital Management increased its stake in shares of Preformed Line Products by 10.8% during the third quarter. Cardinal Capital Management now owns 10,252 shares of the technology company’s stock valued at $1,313,000 after buying an additional 997 shares during the period. 41.19% of the stock is currently owned by institutional investors.

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.