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

Shares of Volex plc (LON:VLX) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 528.10 and traded as high as GBX 530. Volex shares last traded at GBX 525, with a volume of 1,508,681 shares changing hands.

Wall Street Analysts Forecast Growth

VLX has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft increased their price objective 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. Canaccord Genuity Group raised shares of Volex to a “buy” rating and upped their price target for the company from GBX 590 to GBX 600 in a report on Tuesday, July 21st. Jefferies Financial Group reissued a “buy” rating and set a GBX 700 price objective on shares of Volex in a research note on Thursday, June 25th. Finally, Berenberg Bank restated a “buy” rating and set a GBX 700 price objective on shares of Volex in a research report on Tuesday, July 14th. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of GBX 594.

Volex Trading Up 1.4%

The firm has a market capitalization of £947.16 million, a PE ratio of 14.73 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. The business’s fifty day moving average price is GBX 578.30 and its 200 day moving average price is GBX 529.21.

Volex (LON:VLX) last announced its quarterly earnings data on Friday, June 26th. The company reported GBX 35.20 earnings per share (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 for the quarter. As a group, analysts expect that Volex plc will post 30.9454191 EPS for the current fiscal year.

Insider Buying and Selling at Volex

In other Volex news, insider Nathaniel Rothschild purchased 7,500 shares of Volex stock in a transaction on Thursday, July 9th. The shares were bought at an average price of GBX 510 per share, with a total value 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.