Victrex (LON:VCT) Trading Up 16.2% – Should You Buy?

Victrex plc (LON:VCT)’s share price rose 16.2% during trading on Wednesday . The stock traded as high as GBX 1,014 and last traded at GBX 1,010. 1,216,036 shares traded hands during trading, a decline of 20% from the average daily volume of 1,519,943 shares. The stock had previously closed at GBX 869.

Analyst Ratings Changes

Several research firms have issued reports on VCT. Jefferies Financial Group restated a “hold” rating and set a GBX 595 target price on shares of Victrex in a research note on Tuesday, July 7th. Berenberg Bank increased their price objective on shares of Victrex from GBX 680 to GBX 870 and gave the company a “hold” rating in a research report on Friday. Citigroup raised their target price on shares of Victrex from GBX 700 to GBX 1,000 and gave the stock a “neutral” rating in a report on Friday. JPMorgan Chase & Co. lifted their target price on shares of Victrex from GBX 625 to GBX 785 and gave the stock a “neutral” rating in a research report on Thursday. Finally, Canaccord Genuity Group cut Victrex to a “buy” rating and set a GBX 725 price target on the stock. in a report on Friday, May 15th. One analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Victrex has a consensus rating of “Hold” and an average target price of GBX 761.43.

Victrex Trading Down 2.1%

The company has a quick ratio of 1.99, a current ratio of 2.35 and a debt-to-equity ratio of 21.30. The firm has a market capitalization of £851.51 million, a PE ratio of -43.62, a PEG ratio of 1.92 and a beta of 0.82. The stock’s fifty day simple moving average is GBX 785.53 and its 200 day simple moving average is GBX 673.74.

Victrex Company Profile

Victrex plc, through its subsidiaries, engages in the manufacture and sale of polymer solutions worldwide. The company operates through two segments, Sustainable Solutions and Medical. It develops PEEK and PAEK based polymer solutions, and semi-finished and finished parts. The company also provides specialist solutions for medical device manufacturers; sells thermoplastic polymers; sustainable solutions for energy and industrial, VAR, automotive, aerospace, and electronics markets; and engages in trading activities.