Victrex (VCT) Reaches New 52-Week High on Analyst Upgrade
Victrex plc (LON:VCT) shares 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 trading hands. The stock had previously closed at GBX 2,730 ($37.02).
A number of other research analysts also recently weighed in on the company. Liberum Capital restated a “buy” rating and issued a GBX 2,440 ($33.09) price target on shares of Victrex in a research note on Tuesday, December 5th. Barclays decreased 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 research note on Tuesday, November 28th. Berenberg Bank restated a “buy” rating and issued a GBX 2,600 ($35.26) price target on shares of Victrex in a research note on Tuesday, December 5th. Peel Hunt downgraded Victrex to a “hold” rating and set a GBX 2,300 ($31.19) price target for the company. in a research note on Tuesday, October 31st. Finally, Deutsche Bank restated a “hold” rating and issued a GBX 2,200 ($29.83) price target on shares of Victrex in a research note on Thursday, January 4th. Eight investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Victrex presently has an average rating of “Hold” and a consensus price target of GBX 2,309.80 ($31.32).
In other news, insider Martin Court sold 441 shares of Victrex stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of GBX 2,618 ($35.50), for a total transaction of £11,545.38 ($15,656.88). Insiders have bought a total of 15 shares of company stock valued at $37,550 over the last quarter.
The stock has a market cap of $2,300.00 and a P/E ratio of 2,298.28.
The company also recently declared a dividend, which will be paid on Friday, February 16th. Investors of record on Thursday, February 1st will be paid a GBX 109.60 ($1.49) dividend. The ex-dividend date is Thursday, February 1st. This is an increase from Victrex’s previous dividend of $12.20. This represents a yield of 4.31%.
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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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