Volex (LON:VLX) Share Price Crosses Above 200-Day Moving Average – What’s Next?

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 499.97 and traded as high as GBX 610. Volex shares last traded at GBX 601, with a volume of 12,600,108 shares.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Jefferies Financial Group reiterated a “buy” rating and issued a GBX 540 price target on shares of Volex in a report on Wednesday, April 22nd. Canaccord Genuity Group lifted 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. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of GBX 472.50.

Volex Stock Up 0.7%

The firm has a market cap of £1.10 billion, a P/E ratio of 19.77 and a beta of 1.18. The company’s 50-day simple moving average is GBX 615.49 and its 200 day simple moving average is GBX 502.87. The company has a debt-to-equity ratio of 51.32, a current ratio of 1.66 and a quick ratio of 1.04.

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.