Victrex (LON:VCT) Shares Down 8.4% - Here's Why

Victrex plc (LON:VCT - Get Free Report) shares dropped 8.4% on Wednesday . The company traded as low as GBX 667.62 ($9.07) and last traded at GBX 720 ($9.79). Approximately 827,259 shares changed hands during mid-day trading, an increase of 97% from the average daily volume of 420,250 shares. The stock had previously closed at GBX 786 ($10.68).

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft lowered shares of Victrex to a "hold" rating and cut their price objective for the stock from GBX 990 ($13.45) to GBX 850 ($11.55) in a research report on Tuesday. JPMorgan Chase & Co. cut their price objective on shares of Victrex from GBX 940 ($12.78) to GBX 818 ($11.12) and set a "neutral" rating on the stock in a research report on Wednesday.

Victrex Price Performance

The company's 50-day moving average is GBX 798.30 and its two-hundred day moving average is GBX 893.15. The company has a debt-to-equity ratio of 10.93, a current ratio of 4.39 and a quick ratio of 1.99. The firm has a market cap of £635.05 million, a P/E ratio of 20.68, a PEG ratio of 1.92 and a beta of 0.69.

Victrex (LON:VCT - Get Free Report) last posted its earnings results 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%. Sell-side analysts anticipate that Victrex plc will post 73.1078905 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider David Thomas acquired 1,158 shares of Victrex stock in a transaction dated Tuesday, May 13th. The stock was bought at an average price of GBX 846 ($11.50) per share, with a total value of £9,796.68 ($13,314.32). Also, insider Dame Vivienne Cox acquired 2,747 shares of Victrex stock in a transaction dated Tuesday, July 8th. The shares were bought at an average cost of GBX 721 ($9.80) per share, with a total value of £19,805.87 ($26,917.46). Corporate insiders own 1.64% of the company's stock.

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.