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Thursday, October 1, 2020

The Unprecedented Rise of Plantronics Inc. (NYSE:PLT)

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The Plantronics Inc. (PLT) shares are trading at lower $14.76 and the avg recommendation for the stock is Moderate Buy. while the current analyst price target stands at $15.60.

To add more color to this target, the company’s high over the last year is $42.44 and the low is $4.60. Over the last 52 weeks, PLT is down -65.22% while the S&P 500 is up 1.02%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

In the last quarter, PLT reported a profit of $-10.33 million. Plantronics Inc. also saw revenues decrease to $403.04 million. In addition, PLT has free cash flow of $55.14 million as of 03-2020. The company’s EBITDA came in at $29.33 million which compares well with its peers.

PLT booked profit margins of -48.70%, its Return on Equity (ROE) is -180.40%, and its Return on Assets is -29.00%. All told, it is clear that, PLT needs to be on your watchlist.

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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. PLT has a short ratio of 5.32 and outstanding shares of 40.03M.

Company Outlook

PLT has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 1.05 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at -20.71. Plantronics Inc. PLT also noted assets of $2.26 billion at the end of the last quarter. Investors should also keep an eye on sector updates as PLT has historically followed its peers on positive news.

All told, Plantronics Inc. PLT has strung together solid data and demonstrated underlying fundamentals. At its current valuation, PLT represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.

Plantronics Inc. PLT is now commanding a market cap of 625.68M and a float of 32.89M. PLT is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of PLT stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in PLT, either long or short, and we have not been compensated for this article.

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