Volex (LON:VLX) Trading Up 15.7% - Time to Buy?

Key Points

• Volex shares surged 15.7% to GBX 618.02, with trading volume more than 45 times the average session level.
• Analyst sentiment remains positive: four analysts rate the stock a Buy and one a Hold, producing a “Moderate Buy” consensus and an average price target of GBX 594.
• Volex reported quarterly EPS of GBX 35.20, a 15.29% return on equity and a 5.29% net margin; insider Nathaniel Rothschild also bought 7,500 shares at GBX 510, while insiders collectively own 35.11% of the company.

Volex plc (LON:VLX - Get Free Report)'s stock price was up 15.7% during mid-day trading on Tuesday . The company traded as high as GBX 653 and last traded at GBX 618.02. Approximately 146,799,594 shares were traded during trading, an increase of 4,535% from the average session volume of 3,167,394 shares. The stock had previously closed at GBX 534.

Wall Street Analyst Weigh In

VLX has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft boosted their target price on Volex from GBX 500 to GBX 590 and gave the company a "hold" rating in a research note on Friday, June 26th. Berenberg Bank reiterated a "buy" rating and issued a GBX 700 price objective on shares of Volex in a research report on Tuesday, July 14th. Jefferies Financial Group reissued a "buy" rating and set a GBX 700 price objective on shares of Volex in a research note on Tuesday. Finally, Canaccord Genuity Group upgraded shares of Volex to a "buy" rating and raised their target price for the stock from GBX 590 to GBX 600 in a report on Tuesday, July 21st. Four 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, the company has an average rating of "Moderate Buy" and a consensus price target 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 has a 50-day simple moving average of GBX 543.62 and a 200 day simple moving average of GBX 541.67. The firm has a market cap of £1.13 billion, a P/E ratio of 17.71 and a beta of 1.19.

Volex (LON:VLX - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of GBX 124.26 billion for the quarter. On average, analysts anticipate that Volex plc will post 30.9454191 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Nathaniel Rothschild purchased 7,500 shares of the business's stock in a transaction that occurred on Thursday, July 9th. The shares were acquired at an average price of GBX 510 per share, for a total transaction of £38,250. 35.11% of the stock is currently owned by company insiders.

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.

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