Preformed Line Products (NASDAQ:PLPC) Shares Gap Up - Should You Buy?

Preformed Line Products (NASDAQ:PLPC - Get Free Report) gapped up prior to trading on Friday . The stock had previously closed at $123.50, but opened at $133.07. Preformed Line Products shares last traded at $147.38, with a volume of 5,353 shares.

Wall Street Analyst Weigh In

Separately, StockNews.com cut Preformed Line Products from a "strong-buy" rating to a "buy" rating in a report on Tuesday, February 25th.

Preformed Line Products Stock Performance

The company has a debt-to-equity ratio of 0.06, a current ratio of 2.81 and a quick ratio of 1.56. The stock has a market cap of $747.08 million, a price-to-earnings ratio of 22.70 and a beta of 0.62. The firm has a fifty day moving average of $134.04 and a 200 day moving average of $129.70.

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

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Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Truvestments Capital LLC purchased a new position in Preformed Line Products in the third quarter worth approximately $103,000. SG Americas Securities LLC grew its position in Preformed Line Products by 13.1% in the fourth 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 during the period. Wells Fargo & Company MN grew its position in Preformed Line Products by 28.7% in the fourth quarter. Wells Fargo & Company MN now owns 1,409 shares of the technology company's stock worth $180,000 after acquiring an additional 314 shares during the period. BNP Paribas Financial Markets grew its position in Preformed Line Products by 13.1% in the third quarter. BNP Paribas Financial Markets now owns 2,371 shares of the technology company's stock worth $304,000 after acquiring an additional 274 shares during the period. Finally, Quest Partners LLC grew its position in Preformed Line Products by 62.4% in the third quarter. Quest Partners LLC now owns 2,554 shares of the technology company's stock worth $327,000 after acquiring an additional 981 shares during the period. 41.19% of the stock is currently 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.