Ticonderoga maintains an 'Neutral' on Plexus (PLXS); Post Conference Call Thoughts on 2Q Results
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Price: $267.41 --0%
Rating Summary:
8 Buy, 3 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 10 | Down: 16 | New: 19
Rating Summary:
8 Buy, 3 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 10 | Down: 16 | New: 19
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Ticonderoga maintains an 'Neutral' on Plexus (NASDAQ: PLXS).
Ticonderoga analyst says, "Plexus held its 2QFY11 earnings call this morning and provided a more upbeat tone versus the past couple of calls. Sales in 2QFY11 came in at $568.1 million (up 0.4% Q/Q vs. a 13-year average of up over 2.3%) that exceeded our estimate of $562.9 million, while EPS of $0.59 beat our projection of $0.57 (the Street was at $0.56). Recall, Plexus's 2QFY11 outlook called for revenues in the range of $540 million to $570 million with pro forma EPS of $0.53 to $0.58. Given the better than expected 2QFY11 print and an improved 3QFY11 outlook versus the company's nuclear winter view in January, the stock is reacting positively today. However, the 11% move in the stock seems a bit overdone, in our view, and ripe for profit-taking."
For more ratings news on Plexus click here and for the rating history of Plexus click here.
Shares of Plexus closed at $33.73 yesterday.
Ticonderoga analyst says, "Plexus held its 2QFY11 earnings call this morning and provided a more upbeat tone versus the past couple of calls. Sales in 2QFY11 came in at $568.1 million (up 0.4% Q/Q vs. a 13-year average of up over 2.3%) that exceeded our estimate of $562.9 million, while EPS of $0.59 beat our projection of $0.57 (the Street was at $0.56). Recall, Plexus's 2QFY11 outlook called for revenues in the range of $540 million to $570 million with pro forma EPS of $0.53 to $0.58. Given the better than expected 2QFY11 print and an improved 3QFY11 outlook versus the company's nuclear winter view in January, the stock is reacting positively today. However, the 11% move in the stock seems a bit overdone, in our view, and ripe for profit-taking."
For more ratings news on Plexus click here and for the rating history of Plexus click here.
Shares of Plexus closed at $33.73 yesterday.
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