Victrex (LON:VCT) Shares Down 8.4% Following Analyst Downgrade

Shares of Victrex plc (LON:VCT - Get Free Report) dropped 8.4% on Wednesday after Deutsche Bank Aktiengesellschaft downgraded the stock to a hold rating. Deutsche Bank Aktiengesellschaft now has a GBX 850 price target on the stock, down from their previous price target of GBX 990. Victrex traded as low as GBX 667.62 ($9.07) and last traded at GBX 720 ($9.78). Approximately 827,259 shares were traded during trading, an increase of 97% from the average daily volume of 420,250 shares. The stock had previously closed at GBX 786 ($10.68).

Separately, JPMorgan Chase & Co. reduced their price target on shares of Victrex from GBX 940 ($12.77) to GBX 818 ($11.11) and set a "neutral" rating on the stock in a research report on Wednesday.

Insider Activity at Victrex

In related news, insider David Thomas purchased 1,158 shares of the company's stock in a transaction on Tuesday, May 13th. The shares were bought at an average cost of GBX 846 ($11.49) per share, for a total transaction of £9,796.68 ($13,308.90). Also, insider Dame Vivienne Cox purchased 2,747 shares of the company's stock in a transaction on Tuesday, July 8th. The stock was bought at an average price of GBX 721 ($9.79) per share, for a total transaction of £19,805.87 ($26,906.49). 1.64% of the stock is owned by company insiders.

Victrex Trading Down 0.5%

The business's 50-day moving average is GBX 795.78 and its two-hundred day moving average is GBX 890.75. The company has a debt-to-equity ratio of 10.93, a quick ratio of 1.99 and a current ratio of 4.39. The stock has a market capitalization of £631.91 million, a PE ratio of 20.58, a price-to-earnings-growth ratio of 1.92 and a beta of 0.69.

Victrex (LON:VCT - Get Free Report) last announced its quarterly earnings data on Monday, May 12th. The company reported GBX 22.60 ($0.31) EPS for the quarter. Victrex had a net margin of 10.81% and a return on equity of 6.67%. As a group, equities research analysts anticipate that Victrex plc will post 73.1078905 earnings per share 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.