Plantronics Inc. [NYSE:PLT] is seeing significant action in the Technology space. PLT stock has price per sales of 0.35 and price per cash flow of 7.97. The company is also booking -21.42 earnings per share.
The tape is active for Plantronics Inc. [PLT] and the current price target sits at $19.33.
To add more color to this price target, PLT’s high over the last year is $24.00 and the low is $10.00. Over the last two 52 weeks, the company is trading -55.69%, while the S&P 500 is trading 0.87%.
The Price is right
Holding a Market Cap of $554.44 million, Plantronics Inc. has seen a trading range over the last year of $4.60-$42.44.
For the last five days, PLT is up from its last closing price. The average shares trading hands each day is 1.01M, with average 10-day volume coming in at 0.67 million.
Using a Force Index Indicator is a good way to look at how strong actual buying and selling pressure is for PLT. When we apply the Elder Force Index to Plantronics Inc., we are seeing an Elder Force Indicator number of 972158.75.
The recent performance of the stock is another area that can tell traders how to proceed. PLT is presenting an interesting case. This can be seen in the Forward P/E ratio, which currently stands at 5.41. Moreover, the company’s enterprise value has gone from $2.02B to $1.88B quarter-over-quarter. Obviously, the company is heading in the wrong direction, but there are still opportunities for growth in the sector.
In the last quarter, PLT made a profit of 156.33 million. Plantronics Inc. also saw quarter revenue growth year over year of 1.33%. In addition, the company has operating cash flow of $111.39 million.
Looking at popular technical indicators, the company’s 5-day moving average is 13.48 compared to the 50-day moving average of 12.79. So, we are clearly seeing an upward trajectory here.
The Relative Strength Index or RSI is an indicator ranging between 0 and 100 that traders use to determine if a stock is “overbought” or “oversold.” A strong uptrend tending to reach into the “overbought” status is above 70, while a downward trend will stay around the 30 mark. PLT currently holds a 9-day RSI of 72.74%, while 100-day RSI stands at 47.51%.
Another indicator we believe is worth keeping tabs on is the Moving Average Convergence Divergence or MACD. Similar to the concept of the Force Index — on the basis of price momentum — the MACD gives traders a tool to measure the turning point of a stock even during rapid fluctuations in price. Buy and sell signals are determined by a stock’s relation to the zero line, so if a stock is above a zero line for many weeks it might be a “buy.” On the other hand, if a stock is below the zero line consistently, it might be one to stay away from. Also, if the MACD line reaches a peak and dips, its momentum may be waning. PLT’s 9-day MACD is 0.88 and the company’s 100-day MACD stands at -1.20.
Another area that is important to analyze is insider moves and majority shareholders. While this is not always an error-free way to tell what the future holds for a stock, you can maybe gather important information from reading the tea leaves about who is buying and selling.
The major holders for this stock are 2.09% by insiders and 106.85% by institutions.
Over the last six months, insiders have sold 4,065,666 with the most recent transaction from Triangle Private Holdings I, L, 10% Owner, with a sell at price 13.25 per share.
Overall, the recommended rating for PLT is Moderate Buy. Currently, the company has 5 analysts watching the stock, and the average quarterly earnings estimate is 0.44. Quarterly revenue estimates are averaging 372.74M with the high estimate reaching 377M and the low at 369.99M.
To review, the current 1-year target estimate is sitting at 19.33, while the current price 14.56. Based on this, we expect the stock to rise considering the aforementioned fundamentals.