Volex (LON:VLX) Trading 13.3% Higher – Here’s Why

Volex plc (LON:VLX) rose 13.3% during trading on Wednesday . The stock traded as high as GBX 434.50 and last traded at GBX 422. Approximately 16,990,293 shares changed hands during trading, an increase of 2,510% from the average daily volume of 650,925 shares. The stock had previously closed at GBX 372.50.

Analyst Ratings Changes

Several equities research analysts recently issued reports on VLX shares. Jefferies Financial Group restated a “buy” rating and set a GBX 430 price objective on shares of Volex in a research report on Thursday, August 7th. Peel Hunt reaffirmed a “buy” rating and set a GBX 380 price target on shares of Volex in a research report on Thursday, October 16th. Four analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of GBX 395.

Volex Trading Up 13.3%

The business’s 50-day simple moving average is GBX 359.85 and its two-hundred day simple moving average is GBX 337.44. The company has a quick ratio of 1.04, a current ratio of 1.53 and a debt-to-equity ratio of 64.83. The firm has a market capitalization of £773.94 million, a price-to-earnings ratio of 16.48 and a beta of 1.03.

Insider Transactions at Volex

In other news, insider John Wilson purchased 89 shares of the firm’s stock in a transaction on Friday, September 12th. The shares were bought at an average cost of GBX 335 per share, for a total transaction of £298.15. 34.98% of the stock is currently 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.