Volex (LON:VLX) Shares Up 13.3% – What’s Next?

Volex plc (LON:VLX)’s stock price shot up 13.3% on Wednesday . The stock traded as high as GBX 434.50 and last traded at GBX 422. 16,990,293 shares traded 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.

Analyst Upgrades and Downgrades

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

Volex Price Performance

The company has a debt-to-equity ratio of 64.83, a current ratio of 1.53 and a quick ratio of 1.04. The stock has a market capitalization of £773.94 million, a P/E ratio of 16.48 and a beta of 1.03. The stock’s fifty day moving average is GBX 359.85 and its 200-day moving average is GBX 337.44.

Insiders Place Their Bets

In other news, insider John Wilson acquired 89 shares of Volex stock in a transaction dated Friday, September 12th. The stock was acquired at an average cost of GBX 335 per share, for a total transaction of £298.15. Company insiders own 34.98% of the company’s stock.

About Volex

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.