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

Preformed Line Products (NASDAQ:PLPC - Get Free Report) was upgraded by equities research analysts at StockNews.com from a "buy" rating to a "strong-buy" rating in a research report issued on Thursday.

Preformed Line Products Stock Up 1.5 %

Shares of Preformed Line Products stock traded up $2.02 during trading hours on Thursday, reaching $136.96. The company's stock had a trading volume of 7,976 shares, compared to its average volume of 14,909. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.56 and a current ratio of 2.81. The stock's fifty day simple moving average is $122.46 and its two-hundred day simple moving average is $124.53. Preformed Line Products has a one year low of $109.01 and a one year high of $141.66. The company has a market capitalization of $671.10 million, a P/E ratio of 20.56 and a beta of 0.62.

Preformed Line Products (NASDAQ:PLPC - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The technology company reported $1.54 earnings per share (EPS) for the quarter. The business 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%.

Hedge Funds Weigh In On Preformed Line Products

Several hedge funds have recently bought and sold shares of PLPC. Vanguard Group Inc. lifted its position in Preformed Line Products by 5.0% during the first quarter. Vanguard Group Inc. now owns 73,040 shares of the technology company's stock valued at $9,398,000 after purchasing an additional 3,489 shares during the last quarter. Renaissance Technologies LLC lifted its position in Preformed Line Products by 0.3% during the second quarter. Renaissance Technologies LLC now owns 66,600 shares of the technology company's stock valued at $8,294,000 after purchasing an additional 200 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Preformed Line Products by 3.7% during the second quarter. Bank of New York Mellon Corp now owns 27,390 shares of the technology company's stock valued at $3,411,000 after purchasing an additional 984 shares during the last quarter. CM Management LLC lifted its holdings in shares of Preformed Line Products by 48.6% in the 1st quarter. CM Management LLC now owns 26,000 shares of the technology company's stock worth $3,345,000 after acquiring an additional 8,500 shares during the last quarter. Finally, AQR Capital Management LLC lifted its holdings in shares of Preformed Line Products by 10.4% in the 2nd quarter. AQR Capital Management LLC now owns 17,936 shares of the technology company's stock worth $2,234,000 after acquiring an additional 1,687 shares during the last quarter. Hedge funds and other institutional investors 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.