Victrex (LON:VCT) Hits New 52-Week High – Time to Buy?

Victrex plc (LON:VCT) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as GBX 819 and last traded at GBX 777.70, with a volume of 4447918 shares. The stock had previously closed at GBX 796.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on VCT. Jefferies Financial Group reiterated a “hold” rating and issued a GBX 595 target price on shares of Victrex in a research note on Tuesday, July 7th. Canaccord Genuity Group downgraded Victrex to a “buy” rating and set a GBX 725 price target on the stock. in a research report on Friday, May 15th. UBS Group reiterated a “sell” rating and issued a GBX 575 price objective on shares of Victrex in a research note on Monday, May 11th. Finally, Berenberg Bank boosted their price objective on Victrex from GBX 600 to GBX 680 and gave the stock a “hold” rating in a research report on Wednesday, July 8th. Two equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of GBX 663.33.

Victrex Stock Up 0.7%

The firm has a 50-day moving average price of GBX 648.54 and a two-hundred day moving average price of GBX 643.78. The company has a market capitalization of £682.51 million, a P/E ratio of -34.97, a PEG ratio of 1.92 and a beta of 0.77. The company has a quick ratio of 1.99, a current ratio of 2.35 and a debt-to-equity ratio of 21.30.

Victrex (LON:VCT) last announced its earnings results on Monday, May 11th. The company reported GBX 17.20 earnings per share (EPS) for the quarter. The business had revenue of £147.10 million for the quarter. Victrex had a negative net margin of 6.70% and a negative return on equity of 4.95%. Equities research analysts anticipate that Victrex plc will post 73.1078905 EPS for the current fiscal year.

About Victrex

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.