Volex (LON:VLX) Trading 13.3% Higher Following Analyst Upgrade

Volex plc (LON:VLX) shares rose 13.3% on Thursday after Jefferies Financial Group raised their price target on the stock from GBX 430 to GBX 470. Jefferies Financial Group currently has a buy rating on the stock. Volex traded as high as GBX 434.50 and last traded at GBX 422. Approximately 16,990,293 shares were traded 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.

Separately, Peel Hunt restated a “buy” rating and issued a GBX 380 target price on shares of Volex in a research report on Thursday, October 16th. Four research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of GBX 405.

Insider Buying and Selling at Volex

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

Volex Stock Performance

The company has a debt-to-equity ratio of 64.83, a current ratio of 1.53 and a quick ratio of 1.04. The firm has a market capitalization of £782.19 million, a PE ratio of 16.66 and a beta of 1.03. The firm has a fifty day moving average price of GBX 365.01 and a 200 day moving average price of GBX 339.86.

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.