Victrex (LON:VCT) Stock Price Down 8.4% After Analyst Downgrade

Victrex plc (LON:VCT - Get Free Report)'s stock price traded down 8.4% during trading 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 ($9.01) and last traded at GBX 720 ($9.71). 827,259 shares were traded during mid-day trading, an increase of 97% from the average session volume of 420,250 shares. The stock had previously closed at GBX 786 ($10.60).

Separately, JPMorgan Chase & Co. lowered their target price on shares of Victrex from GBX 940 ($12.68) to GBX 818 ($11.03) and set a "neutral" rating for the company in a report on Wednesday.

Insider Buying and Selling at Victrex

In related news, insider Dame Vivienne Cox bought 2,747 shares of the stock in a transaction dated Tuesday, July 8th. The stock was acquired at an average price of GBX 721 ($9.73) per share, for a total transaction of £19,805.87 ($26,717.75). Also, insider David Thomas purchased 1,158 shares of the firm's stock in a transaction that occurred on Tuesday, May 13th. The shares were acquired at an average price of GBX 846 ($11.41) per share, with a total value of £9,796.68 ($13,215.54). Corporate insiders own 1.64% of the company's stock.

Victrex Stock Performance

The stock has a market cap of £631.91 million, a price-to-earnings ratio of 20.58, a PEG ratio of 1.92 and a beta of 0.69. The stock's 50 day moving average is GBX 793.01 and its two-hundred day moving average is GBX 887.05. The company has a current ratio of 4.39, a quick ratio of 1.99 and a debt-to-equity ratio of 10.93.

Victrex (LON:VCT - Get Free Report) last released its earnings results on Monday, May 12th. The company reported GBX 22.60 ($0.30) EPS for the quarter. Victrex had a net margin of 10.81% and a return on equity of 6.67%. Analysts anticipate that Victrex plc will post 73.1078905 earnings per share for the current fiscal 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.