Victrex (LON:VCT) Trading 16.2% Higher – Here’s What Happened

Victrex plc (LON:VCT)’s share price shot up 16.2% during trading on Wednesday . The company traded as high as GBX 1,014 and last traded at GBX 1,010. Approximately 1,216,036 shares were traded during trading, a decline of 20% from the average session volume of 1,519,943 shares. The stock had previously closed at GBX 869.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Canaccord Genuity Group lowered Victrex to a “buy” rating and set a GBX 725 target price for the company. in a research report on Friday, May 15th. Berenberg Bank boosted 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. Finally, Jefferies Financial Group restated a “hold” rating and set a GBX 595 price target on shares of Victrex in a research report on Tuesday, July 7th. Two investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of GBX 663.33.

Victrex Price Performance

The firm has a 50 day moving average price of GBX 768.89 and a two-hundred day moving average price of GBX 669.30. The company has a market cap of £880.28 million, a P/E ratio of -45.09, a P/E/G ratio of 1.92 and a beta of 0.82. The company has a debt-to-equity ratio of 21.30, a quick ratio of 1.99 and a current ratio of 2.35.

Victrex Company Profile

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.