Volex (LON:VLX) Share Price Crosses Above 200-Day Moving Average - What's Next?

Key Points

• Volex shares crossed above their 200-day moving average, reaching GBX 530 before closing at GBX 525, though the stock was down 1.3% in trading.
• Analysts remain broadly positive, with four Buy ratings and one Hold rating. The stock has a “Moderate Buy” consensus and an average price target of GBX 594, with some targets as high as GBX 700.
• Volex reported quarterly EPS of GBX 35.20 and revenue of GBX 124.26 billion, while insider Nathaniel Rothschild bought 7,500 shares at GBX 510; insiders own nearly 35% of the company.

Volex plc (LON:VLX - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 528.10 and traded as high as GBX 530. Volex shares last traded at GBX 525, with a volume of 1,508,681 shares trading hands.

Analysts Set New Price Targets

A number of research analysts recently commented on VLX shares. Berenberg Bank reissued a "buy" rating and issued a GBX 700 target price on shares of Volex in a research note on Tuesday, July 14th. Canaccord Genuity Group upgraded Volex to a "buy" rating and lifted their price target for the company from GBX 590 to GBX 600 in a research report on Tuesday, July 21st. Deutsche Bank Aktiengesellschaft raised their target price on shares of Volex from GBX 500 to GBX 590 and gave the company a "hold" rating in a research note on Friday, June 26th. Finally, Jefferies Financial Group reiterated a "buy" rating and set a GBX 700 target price on shares of Volex in a report on Thursday, June 25th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of GBX 594.

Volex Trading Down 1.3%

The firm has a 50-day moving average price of GBX 583.76 and a 200-day moving average price of GBX 528.10. The company has a debt-to-equity ratio of 46.75, a quick ratio of 1.04 and a current ratio of 1.74. The stock has a market cap of £967.43 million, a PE ratio of 15.04 and a beta of 1.21.

Volex (LON:VLX - Get Free Report) last released its quarterly earnings data on Friday, June 26th. The company reported GBX 35.20 earnings per share for the quarter. The business had revenue of GBX 124.26 billion during the quarter. Volex had a net margin of 5.29% and a return on equity of 15.29%. As a group, equities analysts anticipate that Volex plc will post 30.9454191 EPS for the current fiscal year.

Insider Transactions at Volex

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

About Volex

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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