Victrex (LON:VCT) Stock Price Up 16.2% – Here’s What Happened

Victrex plc (LON:VCT)’s share price rose 16.2% 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 mid-day trading, a decline of 20% from the average daily volume of 1,519,943 shares. The stock had previously closed at GBX 869.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on VCT shares. Canaccord Genuity Group downgraded Victrex to a “buy” rating and set a GBX 725 target price on the stock. in a research report on Friday, May 15th. Jefferies Financial Group reiterated a “hold” rating and set a GBX 595 price objective on shares of Victrex in a research note on Tuesday, July 7th. Finally, Berenberg Bank increased their price objective on Victrex from GBX 600 to GBX 680 and gave the stock a “hold” rating in a report on Wednesday, July 8th. Two investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Victrex currently has a consensus rating of “Hold” and a consensus target price of GBX 663.33.

Victrex Stock Up 16.2%

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

About Victrex

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.