Victrex (LON:VCT) Hits New 12-Month High – Still a Buy?

Shares of Victrex plc (LON:VCT) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as GBX 831 and last traded at GBX 830, with a volume of 110030 shares trading hands. The stock had previously closed at GBX 821.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on VCT. Canaccord Genuity Group cut Victrex to a “buy” rating and set a GBX 725 price objective for the company. in a report on Friday, May 15th. Jefferies Financial Group restated a “hold” rating and issued a GBX 595 price target on shares of Victrex in a research note on Tuesday, July 7th. Berenberg Bank upped their price objective on Victrex from GBX 600 to GBX 680 and gave the stock a “hold” rating in a research note on Wednesday, July 8th. Finally, UBS Group reissued a “sell” rating and issued a GBX 575 target price on shares of Victrex in a research note on Monday, May 11th. Two equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Victrex currently has an average rating of “Hold” and a consensus target price of GBX 663.33.

Victrex Stock Performance

The stock has a market capitalization of £714.17 million, a P/E ratio of -36.59, a PEG ratio of 1.92 and a beta of 0.81. The stock’s 50-day simple moving average is GBX 707.90 and its 200 day simple moving average is GBX 655.63. The company has a debt-to-equity ratio of 21.30, a current ratio of 2.35 and a quick ratio of 1.99.

About Victrex

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.