Victrex (LON:VCT) Hits New 52-Week High - Time to Buy?

Key Points

• Victrex reached a new 52-week high of GBX 819 before trading at GBX 777.70, with roughly 4.45 million shares changing hands.
• Analyst sentiment remains mixed: the stock has an overall “Hold” consensus and an average price target of GBX 663.33, below its recent trading level. Ratings include two Buys, three Holds, and one Sell.
• The company reported quarterly revenue of £147.10 million and earnings of GBX 17.20 per share, but posted negative net margin and return on equity figures. Analysts expect full-year earnings of approximately 73.11 pence per share.

Victrex plc (LON:VCT - Get Free Report) hit a new 52-week high during trading on Thursday . The company traded as high as GBX 819 and last traded at GBX 777.70, with a volume of 4447918 shares trading hands. The stock had previously closed at GBX 796.

Analyst Ratings Changes

A number of research firms have recently weighed in on VCT. Canaccord Genuity Group downgraded Victrex to a "buy" rating and set a GBX 725 price target for the company. in a research note on Friday, May 15th. UBS Group reissued a "sell" rating and issued a GBX 575 price target on shares of Victrex in a research note on Monday, May 11th. Berenberg Bank raised their price objective on shares of Victrex from GBX 600 to GBX 680 and gave the company a "hold" rating in a research report on Wednesday, July 8th. Finally, Jefferies Financial Group reiterated a "hold" rating and issued a GBX 595 target price on shares of Victrex in a research note on Tuesday, July 7th. Two equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of GBX 663.33.

Victrex Price Performance

The company's 50-day simple moving average is GBX 648.54 and its 200 day simple moving average is GBX 643.78. 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 stock has a market capitalization of £682.51 million, a price-to-earnings ratio of -34.97, a P/E/G ratio of 1.92 and a beta of 0.77.

Victrex (LON:VCT - Get Free Report) last announced its quarterly earnings results on Monday, May 11th. The company reported GBX 17.20 earnings per share for the quarter. The company had revenue of £147.10 million during the quarter. Victrex had a negative return on equity of 4.95% and a negative net margin of 6.70%. Equities research analysts forecast that Victrex plc will post 73.1078905 EPS for the current year.

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.

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