Market cap of Plantronics Inc. [PLT] reaches 1.53B – now what?

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Plantronics Inc. [NYSE: PLT] loss -20.41% on the last trading session, reaching $29.44 price per share at the time. The company report on May 14, 2021 that Poly Announces NYSE Ticker Symbol Change from “PLT” to “POLY”.

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Poly (NYSE: PLT), announced that its ticker symbol on the New York Stock Exchange (NYSE) will change to “POLY” at the open of market trading on Monday, May 24, 2021. Poly, formerly Plantronics and Polycom, has traded under the ticker “PLT” since Plantronics’ initial public offering in 1994.


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“As we celebrate the bold new direction of our company, updating our stock ticker is an important step in this process and our company’s long-term business strategy,” said Dave Shull, President and CEO of Poly. “At Poly, we are committed to creating mission critical gear to outfit ‘s workforce, and enable crystal-clear communications from wherever you work.”.

Plantronics Inc. represents 41.25 million in outstanding shares, while the company has a total market value of $1.53 billion with the latest information. PLT stock price has been found in the range of $27.385 to $32.00.

If compared to the average trading volume of 532.12K shares, PLT reached a trading volume of 4267034 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Plantronics Inc. [PLT]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for PLT shares is $45.40 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on PLT stock is a recommendation set at 2.20. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Sidoti have made an estimate for Plantronics Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on April 15, 2021. The new note on the price target was released on February 05, 2021, representing the official price target for Plantronics Inc. stock. Previously, the target price had yet another raise to $25, while JP Morgan analysts kept a Overweight rating on PLT stock.

The Average True Range (ATR) for Plantronics Inc. is set at 2.88, with the Price to Sales ratio for PLT stock in the period of the last 12 months amounting to 0.92. Price to Free Cash Flow for PLT in the course of the last twelve months was 31.66 with Quick ratio for the last quarter at 1.10.

Trading performance analysis for PLT stock

Plantronics Inc. [PLT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -28.18. With this latest performance, PLT shares dropped by -21.95% in over the last four-week period, additionally plugging by 44.67% over the last 6 months – not to mention a rise of 135.52% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for PLT stock in for the last two-week period is set at 27.65, with the RSI for the last a single of trading hit 19.41, and the three-weeks RSI is set at 33.51 for Plantronics Inc. [PLT]. The present Moving Average for the last 50 days of trading for this stock 39.32, while it was recorded at 37.14 for the last single week of trading, and 27.77 for the last 200 days.

Plantronics Inc. [PLT]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Plantronics Inc. [PLT] shares currently have an operating margin of -5.42 and a Gross Margin at +42.65. Plantronics Inc.’s Net Margin is presently recorded at -48.87.

Return on Total Capital for PLT is now -4.64, given the latest momentum, and Return on Invested Capital for the company is -42.03. Return on Equity for this stock declined to -258.95, with Return on Assets sitting at -30.09. Additionally, PLT Total Debt to Total Capital is recorded at 105.19, with Total Debt to Total Assets ending up at 74.40.

Reflecting on the efficiency of the workforce at the company, Plantronics Inc. [PLT] managed to generate an average of -$125,635 per employee. Receivables Turnover for the company is 5.79 with a Total Asset Turnover recorded at a value of 0.62.Plantronics Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.10 and a Current Ratio set at 1.40.

Plantronics Inc. [PLT]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, Plantronics Inc. posted 0.33/share EPS, while the average EPS was predicted by analysts to be reported at 0.02/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 1,550.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for PLT. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Plantronics Inc. go to 15.00%.

An analysis of insider ownership at Plantronics Inc. [PLT]

There are presently around $1,179 million, or 98.50% of PLT stock, in the hands of institutional investors. The top three institutional holders of PLT stocks are: PRIMECAP MANAGEMENT CO/CA/ with ownership of 6,070,550, which is approximately -0.31% of the company’s market cap and around 1.10% of the total institutional ownership; BLACKROCK INC., holding 5,986,370 shares of the stock with an approximate value of $176.24 million in PLT stocks shares; and AMERIPRISE FINANCIAL INC, currently with $149.19 million in PLT stock with ownership of nearly 2.839% of the company’s market capitalization.

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Positions in Plantronics Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 90 institutional holders increased their position in Plantronics Inc. [NYSE:PLT] by around 5,117,597 shares. Additionally, 82 investors decreased positions by around 5,737,808 shares, while 19 investors held positions by with 29,197,396 shares. The mentioned changes placed institutional holdings at 40,052,801 shares, according to the latest SEC report filing. PLT stock had 30 new institutional investments in for a total of 1,593,319 shares, while 19 institutional investors sold positions of 3,513,402 shares during the same period.

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