Volex (LON:VLX) Stock Price Up 15.7% – What’s Next?

Volex plc (LON:VLX) rose 15.7% during mid-day trading on Tuesday . The company traded as high as GBX 653 and last traded at GBX 618.02. 146,799,594 shares were traded during trading, an increase of 4,535% from the average daily volume of 3,167,394 shares. The stock had previously closed at GBX 534.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on VLX shares. Berenberg Bank reaffirmed a “buy” rating and set a GBX 700 target price on shares of Volex in a research note on Tuesday, July 14th. Canaccord Genuity Group raised Volex to a “buy” rating and raised their price objective for the company from GBX 590 to GBX 600 in a research report on Tuesday, July 21st. Jefferies Financial Group reissued a “buy” rating and issued a GBX 700 target price on shares of Volex in a report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on Volex from GBX 500 to GBX 590 and gave the stock a “hold” rating in a research report on Friday, June 26th. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Volex has a consensus rating of “Moderate Buy” and an average target price of GBX 594.

Volex Stock Up 2.0%

The company has a current ratio of 1.74, a quick ratio of 1.04 and a debt-to-equity ratio of 46.75. The stock has a market cap of £1.16 billion, a P/E ratio of 18.10 and a beta of 1.19. The company’s 50 day moving average price is GBX 544.40 and its two-hundred day moving average price is GBX 544.13.

Volex (LON:VLX) last posted its quarterly earnings data 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. Equities analysts forecast that Volex plc will post 30.9454191 earnings per share for the current year.

Insider Transactions at Volex

In other Volex news, insider Nathaniel Rothschild acquired 7,500 shares of the stock in a transaction dated Thursday, July 9th. The shares were acquired at an average cost of GBX 510 per share, for a total transaction of £38,250. Insiders own 35.11% 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.