Berenberg Bank Reaffirms “Buy” Rating for Volex (LON:VLX)

Berenberg Bank reiterated their buy rating on shares of Volex (LON:VLX) in a report released on Friday morning, MarketBeat.com reports. Berenberg Bank currently has a GBX 400 ($4.98) target price on the stock.

Volex Stock Performance

Shares of VLX stock traded down GBX 0.24 ($0.00) during trading hours on Friday, hitting GBX 308.76 ($3.84). 992,622 shares of the company were exchanged, compared to its average volume of 396,527. The firm has a fifty day simple moving average of GBX 288.63 and a 200 day simple moving average of GBX 298.90. The stock has a market capitalization of £560.77 million, a price-to-earnings ratio of 1,929.76 and a beta of 0.99. Volex has a 52-week low of GBX 232 ($2.89) and a 52-week high of GBX 340 ($4.23). The company has a current ratio of 1.46, a quick ratio of 1.04 and a debt-to-equity ratio of 70.82.

Insider Buying and Selling

In other Volex news, insider Jon Boaden sold 20,171 shares of the firm’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of GBX 293 ($3.65), for a total value of £59,101.03 ($73,572.80). 33.98% of the stock is owned by insiders.

Volex Company Profile

Volex plc manufactures and supplies power products and cable assemblies in North America, Europe, and Asia. It provides integrated manufacturing services, such as PCB assembly, box build, and complex cable assemblies; electric vehicle charging solutions; cable harness and power products; copper interconnect cable and data transfer cable; and data center power cables and power cords.