Victrex (LON:VCT) Stock Price Crosses Above 200-Day Moving Average - Here's Why

Key Points

• Victrex shares rose above their 200-day moving average on Thursday, trading as high as GBX 737 and last changing hands at GBX 732.12. The stock’s 200-day average was GBX 640.75.
• Analyst sentiment is mixed: Canaccord Genuity upgraded the stock to buy with a GBX 725 target, while Jefferies kept hold and UBS maintained sell. Overall, MarketBeat shows a consensus Hold rating with an average target of GBX 663.33.
• Victrex reported GBX 17.20 EPS and £147.1 million in revenue for the latest quarter, but it still posted a negative net margin and return on equity. The company makes polymer solutions for markets including medical, automotive, aerospace, and electronics.

Shares of Victrex plc (LON:VCT - Get Free Report) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 640.75 and traded as high as GBX 737. Victrex shares last traded at GBX 732.12, with a volume of 261,826 shares trading hands.

Wall Street Analyst Weigh In

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

Victrex Stock Performance

The firm has a market cap of £637.86 million, a PE ratio of -32.68, a price-to-earnings-growth ratio of 1.92 and a beta of 0.77. The business has a 50 day simple moving average of GBX 634.79 and a two-hundred day simple moving average of GBX 640.75. The company has a quick ratio of 1.99, a current ratio of 2.35 and a debt-to-equity ratio of 21.30.

Victrex (LON:VCT - Get Free Report) last issued its 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 during the quarter. Victrex had a negative net margin of 6.70% and a negative return on equity of 4.95%. As a group, equities research analysts forecast that Victrex plc will post 73.1078905 earnings per share for the current fiscal year.

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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