Volex (LON:VLX) Trading 13.3% Higher – Still a Buy?

Shares of Volex plc (LON:VLX) were up 13.3% during mid-day trading on Thursday . The stock traded as high as GBX 434.50 and last traded at GBX 422. Approximately 16,990,293 shares traded hands during trading, an increase of 2,510% from the average daily volume of 650,925 shares. The stock had previously closed at GBX 372.50.

Analyst Ratings Changes

VLX has been the subject of several recent analyst reports. Peel Hunt restated a “buy” rating and issued a GBX 380 price target on shares of Volex in a research note on Thursday, October 16th. Jefferies Financial Group reiterated a “buy” rating and set a GBX 430 target price on shares of Volex in a research report on Thursday, August 7th. Four equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of GBX 395.

Volex Price Performance

The company has a 50-day moving average of GBX 361.56 and a 200 day moving average of GBX 338.03. The company has a quick ratio of 1.04, a current ratio of 1.53 and a debt-to-equity ratio of 64.83. The stock has a market capitalization of £771.19 million, a PE ratio of 16.43 and a beta of 1.03.

Insider Buying and Selling at Volex

In other Volex news, insider John Wilson acquired 89 shares of the business’s stock in a transaction on Friday, September 12th. The stock was bought at an average price of GBX 335 per share, for a total transaction of £298.15. Corporate insiders own 34.98% 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.