Volex (LON:VLX) Sets New 1-Year High – Still a Buy?

Volex plc (LON:VLX) hit a new 52-week high during mid-day trading on Friday . The company traded as high as GBX 674 and last traded at GBX 673, with a volume of 846127 shares changing hands. The stock had previously closed at GBX 654.

Analysts Set New Price Targets

VLX has been the subject of a number of research analyst reports. Jefferies Financial Group reissued a “buy” rating and issued a GBX 540 target price on shares of Volex in a research report on Wednesday, April 22nd. Canaccord Genuity Group upped their target price on Volex from GBX 445 to GBX 500 and gave the company a “hold” rating in a research report on Thursday, March 26th. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of GBX 472.50.

Volex Stock Up 3.5%

The business has a 50-day simple moving average of GBX 539.20 and a two-hundred day simple moving average of GBX 468.21. The company has a debt-to-equity ratio of 51.32, a quick ratio of 1.04 and a current ratio of 1.66. The company has a market capitalization of £1.24 billion, a price-to-earnings ratio of 22.27 and a beta of 1.16.

Insiders Place Their Bets

In related news, insider Nathaniel Rothschild acquired 5,000 shares of the firm’s stock in a transaction on Thursday, March 19th. The stock was bought at an average cost of GBX 430 per share, with a total value of £21,500. Insiders own 35.06% 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.