Volex (LON:VLX) Shares Cross Above 200 Day Moving Average - Here's What Happened

Key Points

• Volex shares crossed above their 200-day moving average, reaching GBX 571 before last trading at GBX 560, compared with a 200-day average of GBX 536.90.
• Analyst sentiment is positive: four analysts rate Volex a “Buy” and one a “Hold,” producing a “Moderate Buy” consensus and an average price target of GBX 594.
• The company reported quarterly EPS of GBX 35.20, a 5.29% net margin and 15.29% return on equity; insider Nathaniel Rothschild also bought 7,500 shares at GBX 510 each.

Volex plc (LON:VLX - Get Free Report)'s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 536.90 and traded as high as GBX 571. Volex shares last traded at GBX 560, with a volume of 443,347 shares changing hands.

Wall Street Analysts Forecast Growth

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

Volex Stock Down 1.6%

The stock has a market capitalization of £1.03 billion, a P/E ratio of 16.05 and a beta of 1.21. 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's fifty day moving average is GBX 551.25 and its two-hundred day moving average is GBX 536.90.

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

Insider Activity

In related news, insider Nathaniel Rothschild bought 7,500 shares of Volex stock in a transaction dated Thursday, July 9th. The stock was acquired at an average cost of GBX 510 per share, with a total value of £38,250. 35.11% of the stock is owned by company insiders.

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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