Victrex (LON:VCT) Hits New 12-Month High – Still a Buy?

Victrex plc (LON:VCT)’s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as GBX 823 and last traded at GBX 821.75, with a volume of 215338 shares traded. The stock had previously closed at GBX 811.

Analyst Ratings Changes

A number of research firms have issued reports on VCT. Canaccord Genuity Group downgraded shares of Victrex to a “buy” rating and set a GBX 725 price objective on the stock. in a report on Friday, May 15th. Berenberg Bank raised their price target on shares of Victrex from GBX 600 to GBX 680 and gave the company a “hold” rating in a research report on Wednesday, July 8th. UBS Group reaffirmed a “sell” rating and issued a GBX 575 price objective on shares of Victrex in a research report on Monday, May 11th. Finally, Jefferies Financial Group reissued a “hold” rating and set a GBX 595 target price on shares of Victrex in a research report on Tuesday, July 7th. 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 stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of GBX 663.33.

Victrex Stock Up 0.7%

The stock’s fifty day moving average is GBX 668.79 and its two-hundred day moving average is GBX 648.37. The firm has a market cap of £716.18 million, a P/E ratio of -36.70, a price-to-earnings-growth ratio of 1.92 and a beta of 0.77. The company has a current ratio of 2.35, a quick ratio of 1.99 and a debt-to-equity ratio of 21.30.

Victrex (LON:VCT) last posted its quarterly earnings data on Monday, May 11th. The company reported GBX 17.20 earnings per share for the quarter. The company 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 earnings per share for the current year.

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.