Volex (LON:VLX) Stock Passes Above Two Hundred Day Moving Average – Here’s What Happened

Volex plc (LON:VLX)’s stock price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 508.15 and traded as high as GBX 597. Volex shares last traded at GBX 573.35, with a volume of 28,517,066 shares.

Analysts Set New Price Targets

Several brokerages recently commented on VLX. Canaccord Genuity Group boosted their price target on Volex from GBX 445 to GBX 500 and gave the stock a “hold” rating in a research report on Thursday, March 26th. Deutsche Bank Aktiengesellschaft raised their price objective on Volex from GBX 500 to GBX 590 and gave the company a “hold” rating in a report on Friday. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a GBX 700 target price on shares of Volex in a report on Thursday. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Volex presently has a consensus rating of “Moderate Buy” and a consensus price target of GBX 528.

Volex Stock Down 2.4%

The firm has a 50-day moving average of GBX 621.37 and a two-hundred day moving average of GBX 509.60. The company has a quick ratio of 1.04, a current ratio of 1.66 and a debt-to-equity ratio of 51.32. The company has a market capitalization of £991.75 million, a PE ratio of 17.76 and a beta of 1.18.

Volex (LON:VLX) last announced its quarterly earnings results on Friday, June 26th. The company reported GBX 35.20 earnings per share for the quarter. Volex had a net margin of 4.96% and a return on equity of 14.90%. The business had revenue of GBX 124.26 billion during the quarter. Equities research analysts predict that Volex plc will post 30.9454191 earnings per share for the current fiscal year.

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. Headquartered in the UK, we orchestrate operations across 27 advanced manufacturing facilities, uniting 13,000 dynamic individuals from 25 different nations.