Victrex (LON:VCT) Share Price Breaks Above 200-Day Moving Average – What’s Next?

Victrex plc (LON:VCT) shares crossed above its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of GBX 713.67 and traded as high as GBX 944. Victrex shares last traded at GBX 929, with a volume of 132,667 shares traded.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on VCT shares. Canaccord Genuity Group increased their price objective on Victrex from GBX 725 to GBX 1,050 and gave the stock a “buy” rating in a research report on Tuesday, September 29th. Berenberg Bank raised their price target on Victrex from GBX 680 to GBX 870 and gave the company a “hold” rating in a research report on Friday, September 11th. JPMorgan Chase & Co. raised their target price on shares of Victrex from GBX 625 to GBX 785 and gave the stock a “neutral” rating in a research report on Thursday, September 10th. Citigroup lifted their price objective on Victrex from GBX 700 to GBX 1,000 and gave the stock a “neutral” rating in a report on Friday, September 11th. Finally, Jefferies Financial Group reissued a “hold” rating and set a GBX 595 target price on shares of Victrex in a report on Friday, September 25th. One equities research analyst has rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of GBX 807.86.

Victrex Price Performance

The firm has a market capitalization of £821.01 million, a price-to-earnings ratio of -42.05, a price-to-earnings-growth ratio of 1.92 and a beta of 0.82. The company’s fifty day moving average is GBX 877.86 and its two-hundred day moving average is GBX 716.38. The company has a quick ratio of 1.99, a current ratio of 2.35 and a debt-to-equity ratio of 21.30.

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.