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

Volex plc (LON:VLX)’s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 514.64 and traded as high as GBX 558. Volex shares last traded at GBX 540, with a volume of 710,010 shares traded.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on VLX shares. Canaccord Genuity Group boosted their target price on Volex from GBX 445 to GBX 500 and gave the stock a “hold” rating in a report on Thursday, March 26th. Jefferies Financial Group restated a “buy” rating and issued a GBX 700 price target on shares of Volex in a report on Thursday, June 25th. Finally, 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. Three 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 a consensus rating of “Moderate Buy” and a consensus target price of GBX 528.

Volex Stock Performance

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 50-day moving average price of GBX 619.95 and a 200-day moving average price of GBX 514.64. The firm has a market capitalization of £991.75 million, a PE ratio of 17.76 and a beta of 1.57.

Volex (LON:VLX) last issued 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, research analysts expect that Volex plc will post 30.9454191 EPS for the current fiscal year.

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.