Volex’s (VLX) “Buy” Rating Reiterated at Berenberg Bank

Volex (LON:VLX)‘s stock had its “buy” rating reaffirmed by equities researchers at Berenberg Bank in a note issued to investors on Tuesday,London Stock Exchange reports. They currently have a GBX 700 target price on the stock. Berenberg Bank’s price target suggests a potential upside of 37.80% from the stock’s previous close.

Several other equities research analysts have also recently issued reports on the company. Deutsche Bank Aktiengesellschaft lifted their price objective on Volex from GBX 500 to GBX 590 and gave the stock a “hold” rating in a report on Friday, June 26th. Canaccord Genuity Group increased their price objective on Volex from GBX 445 to GBX 500 and gave the company a “hold” rating in a research note on Thursday, March 26th. Finally, Jefferies Financial Group restated a “buy” rating and issued a GBX 700 price objective on shares of Volex in a report on Thursday, June 25th. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of GBX 574.

Volex Stock Performance

VLX opened at GBX 508 on Tuesday. The firm’s fifty day simple moving average is GBX 610.90 and its two-hundred day simple moving average is GBX 519.83. Volex has a 52-week low of GBX 325 and a 52-week high of GBX 710. The company has a market cap of £936.11 million, a price-to-earnings ratio of 14.56 and a beta of 1.21. The company has a quick ratio of 1.04, a current ratio of 1.74 and a debt-to-equity ratio of 46.75.

Volex (LON:VLX) last released its earnings results on Friday, June 26th. The company reported GBX 35.20 EPS for the quarter. Volex had a net margin of 5.29% and a return on equity of 15.29%. The business had revenue of GBX 124.26 billion during the quarter. Equities analysts anticipate that Volex will post 30.9454191 earnings per share for the current fiscal year.

Insider Buying and Selling at Volex

In related news, insider Nathaniel Rothschild purchased 7,500 shares of the company’s stock in a transaction dated Thursday, July 9th. The stock was acquired at an average cost of GBX 510 per share, for a total transaction of £38,250. 34.97% of the stock is currently 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. Headquartered in the UK, we orchestrate operations across 27 advanced manufacturing facilities, uniting 13,000 dynamic individuals from 25 different nations.