PLPC - Preformed Line Products: Downgrading Shares On New Weakness

2024-06-16 21:00:28 ET

Summary

• Preformed Line Products Company's shares have performed well since November 2022, but have recently underperformed the market.
• The company's revenue and profits have declined, and there are concerns about weak market conditions.
• Shares are currently attractively priced, but there may be better investment opportunities available.

Since I first rated Preformed Line Products Company ( PLPC ) a ‘buy’ in November of 2022, the overall performance of the company has been quite strong. Shares are up 56.8% since then, comfortably outperforming the 40.1% rise seen by the S&P 500 over the same window of time. As great as this is to see, this is no longer as impressive as it once was. You see, back in October of last year, I reiterated the ‘buy’ rating that I had on the stock. But from that window through today, shares are actually down 5.5%, significantly trailing the 25.9% surge seen by the broader market....

For further details see: