Volex (LON:VLX) Share Price Crosses Above 200 Day Moving Average – What’s Next?

Volex plc (LON:VLX)’s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 531.87 and traded as high as GBX 555. Volex shares last traded at GBX 555, with a volume of 951,622 shares traded.

Wall Street Analyst Weigh In

VLX has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft lifted their price objective on Volex from GBX 500 to GBX 590 and gave the stock a “hold” rating in a report on Friday, June 26th. Berenberg Bank reissued a “buy” rating and issued a GBX 700 price objective on shares of Volex in a research note on Tuesday, July 14th. Canaccord Genuity Group raised Volex to a “buy” rating and lifted their target price for the company from GBX 590 to GBX 600 in a research note on Tuesday, July 21st. Finally, Jefferies Financial Group reissued a “buy” rating and issued a GBX 700 price target on shares of Volex in a report on Thursday, June 25th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of GBX 594.

Volex Stock Performance

The company has a debt-to-equity ratio of 46.75, a quick ratio of 1.04 and a current ratio of 1.74. The company has a market capitalization of £1.02 billion, a P/E ratio of 15.82 and a beta of 1.21. The business’s fifty day simple moving average is GBX 565.96 and its 200-day simple moving average is GBX 531.87.

Volex (LON:VLX) last released its quarterly earnings data on Friday, June 26th. The company reported GBX 35.20 EPS for the quarter. Volex had a net margin of 5.29% and a return on equity of 15.29%. The business had revenue of GBX 124.26 billion during the quarter. As a group, equities analysts anticipate that Volex plc will post 30.9454191 earnings per share for the current fiscal year.

Insider Activity at Volex

In other news, insider Nathaniel Rothschild purchased 7,500 shares of the company’s stock in a transaction that occurred on Thursday, July 9th. The stock was bought at an average cost of GBX 510 per share, with a total value of £38,250. Corporate insiders own 34.97% of the company’s stock.

About Volex

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. Headquartered in the UK, we orchestrate operations across 27 advanced manufacturing facilities, uniting 13,000 dynamic individuals from 25 different nations.