Volex (LON:VLX) Stock Price Up 13.3% After Analyst Upgrade

Volex plc (LON:VLX) shares traded up 13.3% during trading on Thursday after Jefferies Financial Group raised their price target on the stock from GBX 430 to GBX 470. Jefferies Financial Group currently has a buy rating on the stock. Volex traded as high as GBX 434.50 and last traded at GBX 422. 16,990,293 shares changed hands during trading, an increase of 2,510% from the average session volume of 650,925 shares. The stock had previously closed at GBX 372.50.

Separately, Peel Hunt reaffirmed a “buy” rating and set a GBX 380 target price on shares of Volex in a report on Thursday, October 16th. Four research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of GBX 405.

Insider Activity at Volex

In related news, insider John Wilson purchased 89 shares of Volex stock in a transaction dated Friday, September 12th. The shares were acquired at an average price of GBX 335 per share, for a total transaction of £298.15. 34.98% of the stock is currently owned by corporate insiders.

Volex Stock Performance

The company has a current ratio of 1.53, a quick ratio of 1.04 and a debt-to-equity ratio of 64.83. The firm’s fifty day moving average price is GBX 365.01 and its 200 day moving average price is GBX 339.86. The stock has a market capitalization of £782.19 million, a price-to-earnings ratio of 16.66 and a beta of 1.03.

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.