Volex (LON:VLX) Sets New 1-Year High - Time to Buy?

Key Points

• Volex hit a new 52-week high, trading as high as GBX 615 (last GBX 613) on heavy volume (~1.24M shares) and is trading well above its 50-day (GBX 492.93) and 200-day (GBX 443.06) moving averages.
• Analysts maintain a consensus Moderate Buy (three Buy, one Hold) with a mean price target of GBX 472.50, which is notably below the current share price.
• Insiders own 35.06% of the company and Nathaniel Rothschild recently bought 5,000 shares at GBX 430, indicating insider buying interest amid a market cap of £1.13bn and a PE of 20.20.

Volex plc (LON:VLX - Get Free Report) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as GBX 615 and last traded at GBX 613, with a volume of 1237551 shares changing hands. The stock had previously closed at GBX 591.

Analyst Ratings Changes

VLX has been the subject of a number of research analyst reports. Jefferies Financial Group reaffirmed a "buy" rating and set a GBX 540 price objective on shares of Volex in a report on Wednesday, April 22nd. Canaccord Genuity Group raised their target price on shares of Volex from GBX 445 to GBX 500 and gave the company a "hold" rating in a report on Thursday, March 26th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of GBX 472.50.

Volex Stock Performance

The business's fifty day moving average is GBX 492.93 and its two-hundred day moving average is GBX 443.06. The company has a quick ratio of 1.04, a current ratio of 1.66 and a debt-to-equity ratio of 51.32. The stock has a market capitalization of £1.13 billion, a PE ratio of 20.20 and a beta of 1.02.

Insider Buying and Selling at Volex

In other Volex news, insider Nathaniel Rothschild bought 5,000 shares of the business's stock in a transaction that occurred on Thursday, March 19th. The stock was purchased at an average cost of GBX 430 per share, with a total value of £21,500. Company 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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