Victrex (LON:VCT) Shares Break Above Fifty Day Moving Average – Here’s Why

Victrex plc (LON:VCT)’s share price passed above its 50 day moving average during trading on Wednesday. The stock has a 50 day moving average of GBX 922.78 and traded as high as GBX 937. Victrex shares last traded at GBX 935, with a volume of 453,140 shares.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Canaccord Genuity Group boosted their target price on Victrex from GBX 725 to GBX 1,050 and gave the stock a “buy” rating in a report on Tuesday, September 29th. Citigroup raised their price target on Victrex from GBX 700 to GBX 1,000 and gave the company a “neutral” rating in a report on Friday, September 11th. JPMorgan Chase & Co. lifted their price target on Victrex from GBX 625 to GBX 785 and gave the stock a “neutral” rating in a research report on Thursday, September 10th. Berenberg Bank upped their price target on shares of Victrex from GBX 680 to GBX 870 and gave the stock a “hold” rating in a research note on Friday, September 11th. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a GBX 595 price target on shares of Victrex in a research note on Friday, September 25th. One investment analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of GBX 807.86.

Victrex Stock Performance

The firm has a market capitalization of £812.32 million, a PE ratio of -41.61, a price-to-earnings-growth ratio of 1.92 and a beta of 0.76. The company has a current ratio of 2.35, a quick ratio of 1.99 and a debt-to-equity ratio of 21.30. The business’s 50 day simple moving average is GBX 922.78 and its two-hundred day simple moving average is GBX 731.62.

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.