Victrex (LON:VCT) Trading Up 16.3% – Here’s What Happened

Victrex plc (LON:VCT) shares shot up 16.3% during mid-day trading on Tuesday . The stock traded as high as GBX 704.05 and last traded at GBX 677. Approximately 790,132 shares were traded during trading, a decline of 54% from the average session volume of 1,733,313 shares. The stock had previously closed at GBX 582.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Canaccord Genuity Group downgraded Victrex to a “buy” rating and set a GBX 725 price objective on the stock. in a research note on Friday, May 15th. JPMorgan Chase & Co. lowered their price target on Victrex from GBX 725 to GBX 625 and set a “buy” rating on the stock in a report on Wednesday, March 18th. Berenberg Bank dropped their price target on shares of Victrex from GBX 695 to GBX 600 and set a “hold” rating on the stock in a research report on Tuesday, June 9th. UBS Group restated a “sell” rating and issued a GBX 575 price objective on shares of Victrex in a research note on Monday, May 11th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a GBX 595 price objective on shares of Victrex in a report on Tuesday. Two investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of GBX 662.86.

Victrex Price Performance

The company has a current ratio of 2.35, a quick ratio of 1.99 and a debt-to-equity ratio of 21.30. The stock has a fifty day simple moving average of GBX 609.24 and a 200-day simple moving average of GBX 636.42. The stock has a market cap of £589.83 million, a price-to-earnings ratio of -30.22, a price-to-earnings-growth ratio of 1.92 and a beta of 0.76.

Victrex (LON:VCT) last issued its quarterly earnings results on Monday, May 11th. The company reported GBX 17.20 EPS for the quarter. Victrex had a negative return on equity of 4.95% and a negative net margin of 6.70%.The company had revenue of £147.10 million during the quarter. As a group, equities research analysts expect that Victrex plc will post 73.1078905 EPS for the current year.

Victrex Company Profile

Victrex plc, through its subsidiaries, engages in the manufacture and sale of polymer solutions worldwide. The company operates through two segments, Sustainable Solutions and Medical. It develops PEEK and PAEK based polymer solutions, and semi-finished and finished parts. The company also provides specialist solutions for medical device manufacturers; sells thermoplastic polymers; sustainable solutions for energy and industrial, VAR, automotive, aerospace, and electronics markets; and engages in trading activities.