Victrex (LON:VCT) Reaches New 1-Year High – Here’s Why

Victrex plc (LON:VCT)’s stock price reached a new 52-week high on Thursday . The company traded as high as GBX 819 and last traded at GBX 777.70, with a volume of 4447918 shares changing hands. The stock had previously closed at GBX 796.

Wall Street Analysts Forecast Growth

VCT has been the subject of a number of analyst reports. Canaccord Genuity Group downgraded shares of Victrex to a “buy” rating and set a GBX 725 price objective for the company. in a research report on Friday, May 15th. UBS Group reaffirmed a “sell” rating and issued a GBX 575 target price on shares of Victrex in a report on Monday, May 11th. Jefferies Financial Group reiterated a “hold” rating and set a GBX 595 price target on shares of Victrex in a research note on Tuesday, July 7th. Finally, Berenberg Bank increased their price target on shares of Victrex from GBX 600 to GBX 680 and gave the stock a “hold” rating in a report on Wednesday, July 8th. Two investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Victrex presently has an average rating of “Hold” and a consensus target price of GBX 663.33.

Victrex Stock Up 1.0%

The company has a debt-to-equity ratio of 21.30, a current ratio of 2.35 and a quick ratio of 1.99. The firm’s 50-day simple moving average is GBX 655.03 and its two-hundred day simple moving average is GBX 645.44. The company has a market capitalization of £686.06 million, a price-to-earnings ratio of -35.15, a price-to-earnings-growth ratio of 1.92 and a beta of 0.77.

Victrex (LON:VCT) last issued its earnings results on Monday, May 11th. The company reported GBX 17.20 earnings per share (EPS) for the quarter. The company had revenue of £147.10 million during the quarter. Victrex had a negative net margin of 6.70% and a negative return on equity of 4.95%. Sell-side analysts predict that Victrex plc will post 73.1078905 EPS for the current fiscal year.

About Victrex

Victrex plc, through its subsidiaries, engages in the manufacture and sale of polymer solutions worldwide. The company operates through two segments, Sustainable Solutions and Medical. It develops PEEK and PAEK based polymer solutions, and semi-finished and finished parts. The company also provides specialist solutions for medical device manufacturers; sells thermoplastic polymers; sustainable solutions for energy and industrial, VAR, automotive, aerospace, and electronics markets; and engages in trading activities.