Volex (LON:VLX) Given New GBX 500 Price Target at Canaccord Genuity Group

Key Points

• Canaccord Genuity raised its target from GBX 445 to GBX 500 (maintaining a "hold"), while Jefferies also lifted its target to GBX 500 with a buy rating, leaving the consensus as a "Moderate Buy" with an average target of GBX 462.50.
• Insider Nathaniel Rothschild bought 5,000 shares at GBX 430 on March 19, and corporate insiders now own 35.06% of Volex.
• Shares opened at GBX 464, trading close to a 52‑week high of GBX 500; Volex has a market cap of £852.17 million and a P/E of 15.26.

Volex (LON:VLX - Get Free Report) had its price objective raised by analysts at Canaccord Genuity Group from GBX 445 to GBX 500 in a report released on Thursday, MarketBeat.com reports. The firm currently has a "hold" rating on the stock. Canaccord Genuity Group's target price points to a potential upside of 7.76% from the stock's previous close.

Separately, Jefferies Financial Group lifted their target price on Volex from GBX 470 to GBX 500 and gave the stock a "buy" rating in a report on Thursday, January 22nd. Three equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of GBX 462.50.

Volex Stock Down 1.1%

Shares of VLX stock opened at GBX 464 on Thursday. The company's fifty day simple moving average is GBX 455.81 and its two-hundred day simple moving average is GBX 410.64. Volex has a 52 week low of GBX 190 and a 52 week high of GBX 500. The stock has a market cap of £852.17 million, a P/E ratio of 15.26 and a beta of 1.07. The company has a quick ratio of 1.04, a current ratio of 1.66 and a debt-to-equity ratio of 51.32.

Insiders Place Their Bets

In other Volex news, insider Nathaniel Rothschild purchased 5,000 shares of Volex stock in a transaction that occurred on Thursday, March 19th. The shares were bought at an average price of GBX 430 per share, for a total transaction of £21,500. Corporate insiders own 35.06% of the company's stock.

Volex Company Profile

Volex plc AIM: VLX is a driving force in integrated manufacturing for mission-critical applications and a global leader in power and data connectivity solutions. Our diverse operations support international blue-chip customers in five key end-markets: Electric Vehicles, Consumer Electricals, Medical, Complex Industrial Technology and Off-Highway. Headquartered in the UK, we orchestrate operations across 27 advanced manufacturing facilities, uniting 13,000 dynamic individuals from 25 different nations.

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