Volex (LON:VLX) Upgraded at Canaccord Genuity Group

Key Points

• Canaccord Genuity Group upgraded Volex to “buy” and raised its price target to GBX 600 from GBX 590, implying about 17% upside from the current share price.
• Other analysts remain generally positive: four analysts rate Volex a Buy and one has a Hold, with a consensus target of GBX 594. Recent targets from Berenberg and Jefferies are both GBX 700.
• Volex shares were up 1.1% to GBX 512.38, while the company reported recent quarterly EPS of GBX 35.20 and a July insider purchase by Nathaniel Rothschild of 7,500 shares at GBX 510 each.

Volex (LON:VLX - Get Free Report) was upgraded by analysts at Canaccord Genuity Group to a "buy" rating in a report released on Tuesday,Digital Look reports. The brokerage presently has a GBX 600 target price on the stock, up from their previous target price of GBX 590. Canaccord Genuity Group's price target would suggest a potential upside of 17.10% from the company's current price.

Other equities research analysts also recently issued research reports about the company. Berenberg Bank reissued a "buy" rating and issued a GBX 700 price target on shares of Volex in a report on Tuesday, July 14th. Jefferies Financial Group reiterated a "buy" rating and issued a GBX 700 target price on shares of Volex in a research note on Thursday, June 25th. Finally, Deutsche Bank Aktiengesellschaft upped their price target 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. 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 Trading Up 1.1%

LON:VLX opened at GBX 512.38 on Tuesday. The stock has a market capitalization of £944.18 million, a price-to-earnings ratio of 14.68 and a beta of 1.21. Volex has a 52 week low of GBX 325 and a 52 week high of GBX 710. The company has a quick ratio of 1.04, a current ratio of 1.74 and a debt-to-equity ratio of 46.75. The firm has a 50 day moving average of GBX 597.98 and a 200 day moving average of GBX 523.43.

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

Insider Transactions at Volex

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

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. 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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