Volex (LON:VLX) Stock Passes Above 200-Day Moving Average – Here’s Why

Volex plc (LON:VLX)’s stock price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of GBX 558.73 and traded as high as GBX 619. Volex shares last traded at GBX 614, with a volume of 680,798 shares traded.

Wall Street Analyst Weigh In

A number of research firms have commented on VLX. Berenberg Bank reiterated a “buy” rating and set a GBX 700 price objective on shares of Volex in a research note on Tuesday, July 14th. Canaccord Genuity Group upgraded shares of Volex to a “buy” rating and upped their target price for the company from GBX 590 to GBX 600 in a research note on Tuesday, July 21st. Deutsche Bank Aktiengesellschaft increased their price target on shares of Volex from GBX 500 to GBX 590 and gave the stock a “hold” rating in a research report on Friday, June 26th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a GBX 700 price objective on shares of Volex in a report on Tuesday, August 25th. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, Volex presently has an average rating of “Moderate Buy” and a consensus price target of GBX 594.

Volex Stock Performance

The firm has a market capitalization of £1.13 billion, a price-to-earnings ratio of 17.71 and a beta of 1.20. The company has a 50-day moving average price of GBX 563.65 and a 200-day moving average price of GBX 559.14. 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 posted its earnings results on Friday, June 26th. The company reported GBX 35.20 EPS for the quarter. The firm had revenue of GBX 124.26 billion for the quarter. Volex had a return on equity of 15.29% and a net margin of 5.29%. As a group, equities research analysts forecast that Volex plc will post 30.9454191 earnings per share for the current year.

Insider Activity at Volex

In other Volex news, insider Nathaniel Rothschild purchased 7,500 shares of the stock in a transaction dated Thursday, July 9th. The shares were bought at an average cost of GBX 510 per share, with a total value of £38,250. Company insiders own 35.49% 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. Headquartered in the UK, we orchestrate operations across 27 advanced manufacturing facilities, uniting 13,000 dynamic individuals from 25 different nations.