Victrex (LON:VCT) Shares Cross Above 200-Day Moving Average - Here's Why

Key Points

• Victrex shares broke above their 200-day moving average, reaching GBX 919 before last trading at GBX 896, with more than 2 million shares changing hands.
• Analysts raised several price targets, ranging from GBX 785 to GBX 1,050, but the overall consensus remained “Hold” with an average target of GBX 807.86.
• Victrex has a market capitalization of approximately £780.9 million and operates in polymer solutions, including PEEK and PAEK products serving medical, automotive, aerospace, energy, and electronics markets.

Victrex plc (LON:VCT - Get Free Report) shares passed above its 200-day moving average during trading on Friday. The stock has a 200-day moving average of GBX 742.80 and traded as high as GBX 919. Victrex shares last traded at GBX 896, with a volume of 2,070,168 shares trading hands.

Analysts Set New Price Targets

Several research firms have issued reports on VCT. Berenberg Bank lifted their price target on shares of Victrex from GBX 680 to GBX 870 and gave the stock a "hold" rating in a report on Friday, September 11th. Citigroup increased their price objective 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. increased their price objective on Victrex from GBX 625 to GBX 785 and gave the company a "neutral" rating in a report on Thursday, September 10th. Jefferies Financial Group reissued a "hold" rating and issued a GBX 595 price objective on shares of Victrex in a research report on Friday, September 25th. Finally, 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 research note on Tuesday, September 29th. One equities research analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of GBX 807.86.

Victrex Stock Down 0.2%

The company's 50 day moving average price is GBX 902.48 and its 200 day moving average price is GBX 742.80. The company has a quick ratio of 1.99, a current ratio of 2.35 and a debt-to-equity ratio of 21.30. The firm has a market capitalization of £780.92 million, a price-to-earnings ratio of -40.00, a P/E/G ratio of 1.92 and a beta of 0.76.

Victrex Company Profile

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.

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