Volex (LON:VLX) Receives "Buy" Rating from Berenberg Bank

Key Points

• Berenberg Bank reissued its Buy rating on Volex and kept a GBX 700 price target, implying about 37.8% upside from the current share price.
• Other analysts were mixed but generally positive: Jefferies also has a Buy and GBX 700 target, while Deutsche Bank and Canaccord Genuity both have Hold ratings with lower targets. Overall, MarketBeat shows a Moderate Buy consensus.
• Volex recently reported earnings, and an insider signal was also positive as Nathaniel Rothschild bought 7,500 shares at GBX 510 each. The stock was trading around GBX 508 and is near the middle of its 52-week range.

Volex (LON:VLX - Get Free Report)'s stock had its "buy" rating reissued by equities research analysts at Berenberg Bank in a research note issued on Tuesday,London Stock Exchange reports. They presently have a GBX 700 price target on the stock. Berenberg Bank's target price indicates a potential upside of 37.80% from the stock's current price.

A number of other research firms also recently issued reports on VLX. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Volex from GBX 500 to GBX 590 and gave the company a "hold" rating in a research report on Friday, June 26th. Canaccord Genuity Group raised their target price on Volex from GBX 445 to GBX 500 and gave the stock a "hold" rating in a report on Thursday, March 26th. Finally, Jefferies Financial Group reiterated a "buy" rating and set a GBX 700 price target on shares of Volex in a research report on Thursday, June 25th. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Volex presently has a consensus rating of "Moderate Buy" and a consensus target price of GBX 574.

Volex Stock Up 1.0%

Volex stock opened at GBX 508 on Tuesday. Volex has a 1-year low of GBX 325 and a 1-year high of GBX 710. The business has a fifty day moving average price of GBX 610.90 and a 200-day moving average price of GBX 519.83. The company has a debt-to-equity ratio of 46.75, a current ratio of 1.74 and a quick ratio of 1.04. The stock has a market capitalization of £936.11 million, a price-to-earnings ratio of 14.56 and a beta of 1.21.

Volex (LON:VLX - Get Free Report) last announced its earnings results on Friday, June 26th. The company reported GBX 35.20 earnings per share (EPS) for the quarter. The company had revenue of GBX 124.26 billion for the quarter. Volex had a return on equity of 15.29% and a net margin of 5.29%. Equities research analysts forecast that Volex will post 30.9454191 EPS for the current fiscal year.

Insider Buying and Selling at Volex

In other news, insider Nathaniel Rothschild bought 7,500 shares of the stock in a transaction dated Thursday, July 9th. The shares were acquired at an average cost of GBX 510 per share, with a total value of £38,250. Company insiders own 34.97% 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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