Volex (LON:VLX) Reaches New 52-Week High – Time to Buy?

Volex plc (LON:VLX) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as GBX 504 and last traded at GBX 483, with a volume of 305251 shares traded. The stock had previously closed at GBX 479.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Canaccord Genuity Group raised their price objective on shares of Volex from GBX 445 to GBX 500 and gave the stock a “hold” rating in a report on Thursday, March 26th. Jefferies Financial Group boosted their target price on Volex from GBX 470 to GBX 500 and gave the company a “buy” rating in a research note on Thursday, January 22nd. Three equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of GBX 462.50.

Volex Trading Up 1.2%

The firm has a 50 day simple moving average of GBX 458.98 and a 200 day simple moving average of GBX 418.23. The company has a debt-to-equity ratio of 51.32, a quick ratio of 1.04 and a current ratio of 1.66. The firm has a market cap of £890.37 million, a P/E ratio of 15.95 and a beta of 1.07.

Insider Activity at Volex

In other news, insider Nathaniel Rothschild purchased 95,000 shares of Volex stock in a transaction dated Thursday, January 8th. The stock was purchased at an average cost of GBX 399 per share, for a total transaction of £379,050. 35.06% of the stock is owned by company insiders.

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.