Volex (LON:VLX) Shares Cross 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.

Volex plc (LON:VLX - Get Free Report) shares 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 equities research analysts have recently weighed in on VLX shares. 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 reaffirmed a "buy" rating and issued a GBX 430 price target on shares of Volex in a report on Thursday, August 7th. Three investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Volex currently has a consensus rating of "Buy" and an average target price of GBX 400.

Volex Price Performance

The company has a market capitalization of £607.69 million, a P/E ratio of 1,294.34 and a beta of 1.03. The business's 50-day simple moving average is GBX 357.77 and its 200 day simple moving average is GBX 303.63. The company has a current ratio of 1.53, a quick ratio of 1.04 and a debt-to-equity ratio of 64.83.

Insider Activity at Volex

In other Volex news, insider John Wilson bought 89 shares of the company's stock in a transaction that occurred on Friday, September 12th. The shares were acquired at an average cost of GBX 335 per share, for a total transaction of £298.15. 34.81% of the stock is owned by 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.