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

Key Points

• Victrex shares hit a new 52-week high, trading as high as GBX 754 before closing at GBX 744.20, up 2.6% on the day.
• Analyst sentiment is mixed: the stock has a consensus rating of Hold with an average price target of GBX 663.33, despite recent target changes from firms including Canaccord, Berenberg, Jefferies, and UBS.
• Victrex reported quarterly EPS of GBX 17.20 on revenue of £147.1 million, though profitability remains weak with a negative net margin and return on equity.

Shares of Victrex plc (LON:VCT - Get Free Report) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as GBX 754 and last traded at GBX 744.20, with a volume of 484513 shares trading hands. The stock had previously closed at GBX 725.

Analysts Set New Price Targets

VCT has been the topic of several analyst reports. Canaccord Genuity Group lowered Victrex to a "buy" rating and set a GBX 725 target price on the stock. in a report on Friday, May 15th. Berenberg Bank boosted their price target on Victrex from GBX 600 to GBX 680 and gave the company a "hold" rating in a report on Wednesday, July 8th. Jefferies Financial Group restated a "hold" rating and issued a GBX 595 price objective on shares of Victrex in a research report on Tuesday, July 7th. Finally, UBS Group reaffirmed a "sell" rating and set a GBX 575 target price on shares of Victrex in a report on Monday, May 11th. Two research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of GBX 663.33.

Victrex Trading Up 2.6%

The company has a debt-to-equity ratio of 21.30, a quick ratio of 1.99 and a current ratio of 2.35. The firm has a market capitalization of £648.39 million, a price-to-earnings ratio of -33.22, a P/E/G ratio of 1.92 and a beta of 0.77. The company has a 50 day moving average price of GBX 634.79 and a two-hundred day moving average price of GBX 640.75.

Victrex (LON:VCT - Get Free Report) last released its quarterly earnings results on Monday, May 11th. The company reported GBX 17.20 earnings per share (EPS) for the quarter. The firm had revenue of £147.10 million for the quarter. Victrex had a negative net margin of 6.70% and a negative return on equity of 4.95%. On average, 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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