Volex (LON:VLX) Shares Pass Above Two Hundred Day Moving Average – Here’s What Happened

Volex plc (LON:VLX) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 540.31 and traded as high as GBX 550. Volex shares last traded at GBX 545, with a volume of 539,541 shares traded.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Jefferies Financial Group reissued a “buy” rating and issued a GBX 700 price objective on shares of Volex in a research report on Thursday, June 25th. Canaccord Genuity Group raised shares of Volex to a “buy” rating and boosted their target price for the stock from GBX 590 to GBX 600 in a research report on Tuesday, July 21st. Deutsche Bank Aktiengesellschaft upped their target price on shares of Volex from GBX 500 to GBX 590 and gave the company a “hold” rating in a research note on Friday, June 26th. Finally, Berenberg Bank reissued a “buy” rating and issued a GBX 700 price target on shares of Volex in a report on Tuesday, July 14th. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of GBX 594.

Volex Stock Up 2.3%

The company has a debt-to-equity ratio of 46.75, a current ratio of 1.74 and a quick ratio of 1.04. The stock has a market capitalization of £1.00 billion, a P/E ratio of 15.62 and a beta of 1.21. The firm has a 50 day moving average of GBX 544.98 and a 200-day moving average of GBX 540.31.

Volex (LON:VLX) last posted its quarterly earnings results on Friday, June 26th. The company reported GBX 35.20 EPS for the quarter. Volex had a return on equity of 15.29% and a net margin of 5.29%.The firm had revenue of GBX 124.26 billion during the quarter. On average, equities research analysts expect that Volex plc will post 30.9454191 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Nathaniel Rothschild bought 7,500 shares of the business’s stock in a transaction that occurred on Thursday, July 9th. The stock was acquired at an average cost of GBX 510 per share, for a total transaction of £38,250. Corporate insiders own 35.11% of the company’s stock.

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.