Volex (LON:VLX) Upgraded at Canaccord Genuity Group

Canaccord Genuity Group upgraded shares of Volex (LON:VLX) to a buy rating in a report published on Tuesday morning,Digital Look reports. Canaccord Genuity Group currently has GBX 600 price target on the stock, up from their prior price target of GBX 590.

Several other brokerages also recently issued reports on VLX. Jefferies Financial Group restated a “buy” rating and issued a GBX 700 price target on shares of Volex in a report on Thursday, June 25th. Berenberg Bank reiterated a “buy” rating and set a GBX 700 price objective on shares of Volex in a report on Tuesday, July 14th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Volex from GBX 500 to GBX 590 and gave the company a “hold” rating in a research report on Friday, June 26th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, Volex has an average rating of “Moderate Buy” and a consensus target price of GBX 594.

Volex Price Performance

Shares of VLX stock opened at GBX 540 on Tuesday. The company has a quick ratio of 1.04, a current ratio of 1.74 and a debt-to-equity ratio of 46.75. Volex has a 12-month low of GBX 325 and a 12-month high of GBX 710. The firm has a fifty day moving average of GBX 590.02 and a 200-day moving average of GBX 525.84. The firm has a market capitalization of £995.07 million, a price-to-earnings ratio of 15.47 and a beta of 1.21.

Volex (LON:VLX) last issued its quarterly earnings data on Friday, June 26th. The company reported GBX 35.20 EPS for the quarter. The business had revenue of GBX 124.26 billion for the quarter. Volex had a return on equity of 15.29% and a net margin of 5.29%. On average, equities research analysts forecast that Volex will post 30.9454191 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Nathaniel Rothschild bought 7,500 shares of Volex stock in a transaction that occurred on Thursday, July 9th. The stock was purchased at an average cost of GBX 510 per share, with a total value of £38,250. Corporate insiders own 34.97% 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.