Volex (LON:VLX) Hits New 52-Week High – Here’s What Happened

Volex plc (LON:VLX)’s share price reached a new 52-week high on Wednesday . The stock traded as high as GBX 447.50 and last traded at GBX 445.95, with a volume of 825388 shares changing hands. The stock had previously closed at GBX 408.50.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on VLX. Jefferies Financial Group increased their target price on Volex from GBX 430 to GBX 470 and gave the stock a “buy” rating in a research report on Thursday, November 13th. Berenberg Bank upped their price target on Volex from GBX 430 to GBX 470 and gave the stock a “buy” rating in a research note on Tuesday, November 18th. Finally, Peel Hunt reissued a “buy” rating and set a GBX 380 price objective on shares of Volex in a research report on Thursday, October 16th. Four research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of GBX 415.

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 has a market capitalization of £806.70 million, a P/E ratio of 14.46 and a beta of 1.03. The business has a 50-day moving average price of GBX 413.05 and a 200 day moving average price of GBX 379.21.

Insider Buying and Selling

In related news, insider Nathaniel Rothschild bought 95,000 shares of the business’s stock in a transaction dated Thursday, January 8th. The shares were purchased at an average cost of GBX 399 per share, with a total value of £379,050. Company 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. Headquartered in the UK, we orchestrate operations across 27 advanced manufacturing facilities, uniting 13,000 dynamic individuals from 25 different nations.