Volex’s (VLX) “Buy” Rating Reiterated at Berenberg Bank

Berenberg Bank reiterated their buy rating on shares of Volex (LON:VLX) in a research note released on Monday morning, MarketBeat Ratings reports. The brokerage currently has a GBX 400 ($5.06) target price on the stock.

Volex Stock Down 0.4 %

VLX opened at GBX 343.50 ($4.34) on Monday. The firm’s 50 day simple moving average is GBX 340.78 and its two-hundred day simple moving average is GBX 314.83. The company has a market capitalization of £623.86 million, a PE ratio of 2,146.88 and a beta of 0.96. Volex has a 1-year low of GBX 264.50 ($3.35) and a 1-year high of GBX 365 ($4.62). The company has a current ratio of 1.46, a quick ratio of 1.04 and a debt-to-equity ratio of 70.82.

Volex Increases Dividend

The firm also recently declared a dividend, which will be paid on Friday, August 30th. Shareholders of record on Thursday, July 25th will be paid a GBX 2.80 ($0.04) dividend. This represents a yield of 0.79%. The ex-dividend date of this dividend is Thursday, July 25th. This is a positive change from Volex’s previous dividend of $1.40. Volex’s dividend payout ratio is presently 2,500.00%.

About Volex

Volex plc manufactures and supplies power products and cable assemblies in North America, Europe, and Asia. It provides integrated manufacturing services, such as PCB assembly, box build, and complex cable assemblies; electric vehicle charging solutions; cable harness and power products; copper interconnect cable and data transfer cable; and data center power cables and power cords.