Volex (LON:VLX) Shares Up 13.3% – Still a Buy?

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

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Peel Hunt restated a “buy” rating and set a GBX 380 price objective on shares of Volex in a research note on Thursday, October 16th. Jefferies Financial Group restated a “buy” rating and set a GBX 430 target price on shares of Volex in a research report on Thursday, August 7th. Four research analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of GBX 395.

Volex Trading Up 13.3%

The firm has a market capitalization of £773.94 million, a price-to-earnings ratio of 16.48 and a beta of 1.03. The company has a 50 day moving average price of GBX 359.85 and a two-hundred day moving average price of GBX 337.44. The company has a debt-to-equity ratio of 64.83, a quick ratio of 1.04 and a current ratio of 1.53.

Insider Activity at Volex

In related news, insider John Wilson purchased 89 shares of Volex stock in a transaction that occurred on Friday, September 12th. The stock was purchased at an average price of GBX 335 per share, for a total transaction of £298.15. 34.98% of the stock is owned by corporate insiders.

Volex Company Profile

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.