Victrex (VCT) Hits New 1-Year High on Analyst Upgrade

Shares of Victrex plc (LON:VCT) reached a new 52-week high on Tuesday after JPMorgan Chase & Co. raised their price target on the stock from GBX 2,250 to GBX 2,580. JPMorgan Chase & Co. currently has a neutral rating on the stock. Victrex traded as high as GBX 2,772 ($37.59) and last traded at GBX 2,704 ($36.67), with a volume of 190183 shares changing hands. The stock had previously closed at GBX 2,730 ($37.02).

A number of other equities analysts have also recently commented on the company. Deutsche Bank reissued a “hold” rating and set a GBX 2,200 ($29.83) price target on shares of Victrex in a report on Thursday, January 4th. Liberum Capital boosted their price target on Victrex from GBX 2,440 ($33.09) to GBX 2,770 ($37.56) and gave the stock a “buy” rating in a report on Monday, December 11th. Berenberg Bank reissued a “buy” rating and set a GBX 2,600 ($35.26) price target on shares of Victrex in a report on Tuesday, December 5th. Barclays lowered their price target on Victrex from GBX 2,350 ($31.87) to GBX 2,270 ($30.78) and set an “equal weight” rating for the company in a report on Tuesday, November 28th. Finally, Peel Hunt cut Victrex to a “hold” rating and set a GBX 2,300 ($31.19) price target for the company. in a report on Tuesday, October 31st. Eight analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of GBX 2,309.80 ($31.32).

In other Victrex news, insider Martin Court sold 441 shares of the company’s stock in a transaction dated Friday, December 15th. The stock was sold at an average price of GBX 2,618 ($35.50), for a total value of £11,545.38 ($15,656.88). In the last ninety days, insiders acquired 15 shares of company stock valued at $37,550.

The company has a market capitalization of $2,320.00 and a price-to-earnings ratio of 2,331.03.

The business also recently declared a dividend, which will be paid on Friday, February 16th. Stockholders of record on Thursday, February 1st will be paid a GBX 109.60 ($1.49) dividend. This is a boost from Victrex’s previous dividend of $12.20. The ex-dividend date is Thursday, February 1st. This represents a dividend yield of 4.31%.

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About Victrex

Victrex plc is a United Kingdom-based holding company. The Company is engaged in the manufacture and sale of various polymers. The Company’s operating segments include Industrial (Victrex Polymer Solutions) and Medical (Invibio Biomaterial Solutions). The Victrex Polymer Solutions segment focuses on automotive, aerospace, electronics and energy markets.

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