Victrex (LON:VCT) Trading 16.3% Higher – Time to Buy?

Victrex plc (LON:VCT) shares traded up 16.3% during mid-day trading on Tuesday . The company traded as high as GBX 704.05 and last traded at GBX 677. Approximately 790,132 shares traded hands during trading, a decline of 54% from the average session volume of 1,733,313 shares. The stock had previously closed at GBX 582.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on VCT. Canaccord Genuity Group lowered shares of Victrex to a “buy” rating and set a GBX 725 price target for the company. in a report on Friday, May 15th. Jefferies Financial Group reiterated a “hold” rating and issued a GBX 595 price objective on shares of Victrex in a report on Tuesday. Berenberg Bank raised their target price on Victrex from GBX 600 to GBX 680 and gave the company a “hold” rating in a research note on Wednesday. UBS Group reaffirmed a “sell” rating and set a GBX 575 target price on shares of Victrex in a research report on Monday, May 11th. Finally, JPMorgan Chase & Co. reduced their price target on Victrex from GBX 725 to GBX 625 and set a “buy” rating for the company in a report on Wednesday, March 18th. Two equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of GBX 674.29.

Victrex Price Performance

The company has a 50 day simple moving average of GBX 610.80 and a 200-day simple moving average of GBX 636.72. The stock has a market cap of £568.05 million, a price-to-earnings ratio of -29.11, a PEG ratio of 1.92 and a beta of 0.76. 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 (LON:VCT) last released its quarterly earnings data on Monday, May 11th. The company reported GBX 17.20 earnings per share for the quarter. The business had revenue of £147.10 million for the quarter. Victrex had a negative net margin of 6.70% and a negative return on equity of 4.95%. As a group, research analysts anticipate that Victrex plc will post 73.1078905 EPS for the current fiscal year.

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.