Canaccord Genuity Group Cuts Volex (LON:VLX) Price Target to GBX 340

Volex (LON:VLX - Get Free Report) had its target price dropped by equities research analysts at Canaccord Genuity Group from GBX 430 ($5.63) to GBX 340 ($4.45) in a research note issued to investors on Tuesday, MarketBeat reports. The brokerage presently has a "buy" rating on the stock. Canaccord Genuity Group's target price would suggest a potential upside of 51.45% from the stock's current price.

Volex Stock Performance

LON:VLX traded down GBX 1 ($0.01) during mid-day trading on Tuesday, hitting GBX 224.50 ($2.94). 416,111 shares of the company traded hands, compared to its average volume of 727,641. The company has a quick ratio of 1.04, a current ratio of 1.53 and a debt-to-equity ratio of 64.83. The stock's fifty day moving average price is GBX 263.39 and its 200-day moving average price is GBX 288.21. The firm has a market cap of £520.69 million, a price-to-earnings ratio of 12.08 and a beta of 1.03. Volex has a one year low of GBX 190 ($2.49) and a one year high of GBX 375 ($4.91).

Insider Buying and Selling

In other news, insider Jon Boaden sold 6,035 shares of the business's stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of GBX 264 ($3.46), for a total value of £15,932.40 ($20,853.93). Also, insider John Wilson bought 10,000 shares of the business's stock in a transaction that occurred on Thursday, January 16th. The shares were acquired at an average price of GBX 272 ($3.56) per share, with a total value of £27,200 ($35,602.09). 32.77% of the stock is currently owned by insiders.

Volex Company Profile

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 sectors: Electric Vehicles, Consumer Electricals, Medical, Complex Industrial Technology and Off-Highway.