Volex (LON:VLX) Shares Up 13.3% – Here’s Why

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

Analyst Ratings Changes

Several research analysts have commented on VLX shares. Peel Hunt reissued a “buy” rating and set a GBX 380 price target on shares of Volex in a research note on Thursday, October 16th. Jefferies Financial Group reaffirmed a “buy” rating and set a GBX 430 target price on shares of Volex in a report on Thursday, August 7th. Four investment analysts have rated the stock with a Buy rating, According to MarketBeat, Volex has an average rating of “Buy” and a consensus target price of GBX 395.

Volex Trading Up 13.3%

The company has a debt-to-equity ratio of 64.83, a quick ratio of 1.04 and a current ratio of 1.53. The firm has a 50-day moving average of GBX 361.56 and a 200-day moving average of GBX 338.03. The firm has a market capitalization of £773.94 million, a P/E ratio of 16.48 and a beta of 1.03.

Insider Activity

In other news, insider John Wilson bought 89 shares of the firm’s stock in a transaction that occurred on Friday, September 12th. The shares were bought at an average cost of GBX 335 per share, with a total value of £298.15. Corporate insiders own 34.98% of the company’s stock.

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.