Volex (LON:VLX) Stock Price Up 13.3% – Time to Buy?

Volex plc (LON:VLX) traded up 13.3% 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.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Peel Hunt reiterated a “buy” rating and set a GBX 380 target price on shares of Volex in a report on Thursday, October 16th. Jefferies Financial Group reiterated a “buy” rating and set a GBX 430 price objective on shares of Volex in a research note on Thursday, August 7th. Four equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of GBX 395.

Volex Stock Performance

The company’s fifty day simple moving average is GBX 361.56 and its two-hundred day simple moving average is GBX 338.03. The company has a market capitalization of £773.94 million, a price-to-earnings ratio of 16.48 and a beta of 1.03. The company has a debt-to-equity ratio of 64.83, a quick ratio of 1.04 and a current ratio of 1.53.

Insiders Place Their Bets

In other news, insider John Wilson acquired 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, for a total transaction of £298.15. 34.98% of the stock is currently owned by corporate 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.