Volex (LON:VLX) Trading 13.3% Higher – Still a Buy?

Volex plc (LON:VLX)’s share price was up 13.3% during trading on Thursday . The company traded as high as GBX 434.50 and last traded at GBX 422. Approximately 16,990,293 shares changed hands during mid-day trading, an increase of 2,510% from the average daily volume of 650,925 shares. The stock had previously closed at GBX 372.50.

Wall Street Analyst Weigh In

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

Volex Stock Performance

The firm’s fifty day simple moving average is GBX 361.56 and its 200 day simple moving average is GBX 338.03. The company has a market capitalization of £771.19 million, a PE ratio of 16.43 and a beta of 1.03. The company has a debt-to-equity ratio of 64.83, a current ratio of 1.53 and a quick ratio of 1.04.

Insiders Place Their Bets

In related news, insider John Wilson purchased 89 shares of the firm’s stock in a transaction on Friday, September 12th. The stock was bought at an average cost of GBX 335 per share, with a total value of £298.15. Corporate insiders own 34.98% of the company’s stock.

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.