Volex (LON:VLX) Trading 18.3% Higher - Time to Buy?

Volex plc (LON:VLX - Get Free Report) rose 18.3% during trading on Friday . The stock traded as high as GBX 394 ($5.41) and last traded at GBX 373.31 ($5.13). Approximately 4,640,254 shares changed hands during mid-day trading, an increase of 620% from the average daily volume of 644,282 shares. The stock had previously closed at GBX 315.50 ($4.33).

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group lowered their target price on shares of Volex from GBX 430 ($5.90) to GBX 340 ($4.67) and set a "buy" rating on the stock in a report on Tuesday, April 8th.

Volex Stock Performance

The company has a debt-to-equity ratio of 64.83, a quick ratio of 1.04 and a current ratio of 1.53. The stock's fifty day moving average price is GBX 283.49 and its 200-day moving average price is GBX 274. The company has a market capitalization of £887.15 million, a P/E ratio of 20.59 and a beta of 1.03.

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 sectors: Electric Vehicles, Consumer Electricals, Medical, Complex Industrial Technology and Off-Highway.