Volex (LON:VLX) Shares Cross Above 200-Day Moving Average - Here's What Happened

Key Points

• Volex shares crossed above their 200-day moving average, reaching GBX 637 before closing at GBX 626, versus the moving average of GBX 553.69.
• Analyst sentiment remains positive: four analysts rate the stock a Buy and one a Hold, producing a consensus “Moderate Buy” rating and a GBX 594 target price.
• Volex reported quarterly earnings of GBX 35.20 per share, with a 15.29% return on equity and a 5.29% net margin; insider Nathaniel Rothschild also purchased 7,500 shares at GBX 510 each.

Volex plc (LON:VLX - Get Free Report)'s stock price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 553.69 and traded as high as GBX 637. Volex shares last traded at GBX 626, with a volume of 504,034 shares trading hands.

Wall Street Analyst Weigh In

VLX has been the subject of several recent research reports. Berenberg Bank reiterated a "buy" rating and issued a GBX 700 price target on shares of Volex in a report on Tuesday, July 14th. Jefferies Financial Group restated a "buy" rating and set a GBX 700 price objective on shares of Volex in a research note on Tuesday, August 25th. Canaccord Genuity Group upgraded Volex to a "buy" rating and increased their target price for the company from GBX 590 to GBX 600 in a research note on Tuesday, July 21st. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Volex from GBX 500 to GBX 590 and gave the company a "hold" rating in a report on Friday, June 26th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of GBX 594.

Volex Price 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 business's fifty day simple moving average is GBX 551.97 and its 200 day simple moving average is GBX 553.69. The stock has a market cap of £1.15 billion, a price-to-earnings ratio of 17.94 and a beta of 1.20.

Volex (LON:VLX - Get Free Report) last announced its earnings results on Friday, June 26th. The company reported GBX 35.20 earnings per share for the quarter. Volex had a return on equity of 15.29% and a net margin of 5.29%.The company had revenue of GBX 124.26 billion during the quarter. Research analysts predict that Volex plc will post 30.9454191 EPS for the current fiscal year.

Insiders Place Their Bets

In other Volex news, insider Nathaniel Rothschild acquired 7,500 shares of the stock in a transaction on Thursday, July 9th. The stock was purchased at an average price of GBX 510 per share, for a total transaction of £38,250. 35.49% of the stock is currently owned by company 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 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.

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