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

Key Points

• Volex plc's share price has crossed above its 200-day moving average of GBX 302.36, reaching a peak of GBX 339 ($4.59) during recent trading.
• Analysts at Jefferies Financial Group and Berenberg Bank have reiterated a "buy" rating for Volex, with a target price of GBX 430, reflecting strong confidence in the company's performance.
• The company, which specializes in power and data connectivity solutions, has a current market cap of £610.38 million and a consensus target price of GBX 400 among three research analysts.

Shares of Volex plc (LON:VLX - Get Free Report) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 302.36 ($4.10) and traded as high as GBX 339 ($4.60). Volex shares last traded at GBX 336.80 ($4.57), with a volume of 340,778 shares.

Wall Street Analysts Forecast Growth

Several research firms have commented on VLX. Berenberg Bank boosted their target price on shares of Volex from GBX 415 to GBX 430 and gave the stock a "buy" rating in a research report on Friday, July 11th. Jefferies Financial Group reissued a "buy" rating and issued a GBX 430 target price on shares of Volex in a research report on Thursday, August 7th. Three analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of GBX 400.

Volex Price Performance

The company has a debt-to-equity ratio of 64.83, a current ratio of 1.53 and a quick ratio of 1.04. The stock's 50 day moving average price is GBX 357.77 and its two-hundred day moving average price is GBX 303.33. The firm has a market capitalization of £611.63 million, a price-to-earnings ratio of 1,302.73 and a beta of 1.03.

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.