Volex (LON:VLX) Shares Up 13.3% – Still a Buy?

Volex plc (LON:VLX)’s stock price shot up 13.3% during trading on Wednesday . The stock traded as high as GBX 434.50 and last traded at GBX 422. 16,990,293 shares changed hands during mid-day trading, an increase of 2,510% from the average session volume of 650,925 shares. The stock had previously closed at GBX 372.50.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on VLX shares. Jefferies Financial Group reissued a “buy” rating and issued a GBX 430 price target on shares of Volex in a report on Thursday, August 7th. Peel Hunt reiterated a “buy” rating and set a GBX 380 target price on shares of Volex in a research note on Thursday, October 16th. Four analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of GBX 395.

Volex Stock Up 13.3%

The stock’s fifty day simple moving average is GBX 359.85 and its two-hundred day simple moving average is GBX 337.44. The company has a debt-to-equity ratio of 64.83, a current ratio of 1.53 and a quick ratio of 1.04. The company has a market capitalization of £773.94 million, a price-to-earnings ratio of 16.48 and a beta of 1.03.

Insiders Place Their Bets

In other Volex news, insider John Wilson bought 89 shares of the business’s stock in a transaction on Friday, September 12th. The shares were purchased at an average price of GBX 335 per share, with a total value of £298.15. 34.98% of the stock is currently owned by company insiders.

Volex Company Profile

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.