Volex (LON:VLX) Trading Up 13.3% – Still a Buy?

Volex plc (LON:VLX) shares shot up 13.3% during mid-day trading on Wednesday . The company traded as high as GBX 434.50 and last traded at GBX 422. 16,990,293 shares changed hands during trading, an increase of 2,510% from the average session volume of 650,925 shares. The stock had previously closed at GBX 372.50.

Wall Street Analyst Weigh In

Several brokerages have recently commented on VLX. Jefferies Financial Group reiterated a “buy” rating and issued a GBX 430 target price on shares of Volex in a report on Thursday, August 7th. Peel Hunt reaffirmed a “buy” rating and issued a GBX 380 price objective on shares of Volex in a research report on Thursday, October 16th. Four investment analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of GBX 395.

Volex Stock Up 13.3%

The stock has a 50 day moving average price of GBX 361.56 and a 200 day moving average price of GBX 338.03. The company has a debt-to-equity ratio of 64.83, a quick ratio of 1.04 and a current ratio of 1.53. The company has a market capitalization of £773.94 million, a P/E ratio of 16.48 and a beta of 1.03.

Insider Buying and Selling at Volex

In related news, insider John Wilson purchased 89 shares of the firm’s stock in a transaction dated Friday, September 12th. The stock was bought at an average price of GBX 335 per share, for a total transaction of £298.15. 34.98% of the stock is owned by corporate insiders.

Volex Company Profile

Volex plc (AIM:VLX) is a driving force in integrated manufacturing for mission-critical applications and a global leader in power and data connectivity solutions. Our diverse operations support international blue-chip customers in five key end-markets: Electric Vehicles, Consumer Electricals, Medical, Complex Industrial Technology and Off-Highway.