Victrex (LON:VCT) Shares Break Above Fifty Day Moving Average – Here’s Why

Victrex plc (LON:VCT)’s share price crossed above its 50 day moving average during trading on Wednesday. The stock has a 50 day moving average of GBX 922.78 and traded as high as GBX 937. Victrex shares last traded at GBX 935, with a volume of 453,140 shares trading hands.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. JPMorgan Chase & Co. upped their price target on shares of Victrex from GBX 625 to GBX 785 and gave the company a “neutral” rating in a research report on Thursday, September 10th. Canaccord Genuity Group increased their price objective on shares of Victrex from GBX 725 to GBX 1,050 and gave the stock a “buy” rating in a research note on Tuesday, September 29th. Jefferies Financial Group reissued a “hold” rating and issued a GBX 595 price objective on shares of Victrex in a report on Friday, September 25th. Berenberg Bank boosted their target price on shares of Victrex from GBX 680 to GBX 870 and gave the company a “hold” rating in a research report on Friday, September 11th. Finally, Citigroup upped their target price on shares of Victrex from GBX 700 to GBX 1,000 and gave the company a “neutral” rating in a report on Friday, September 11th. One investment analyst has rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of GBX 807.86.

Victrex Price Performance

The company has a quick ratio of 1.99, a current ratio of 2.35 and a debt-to-equity ratio of 21.30. The stock has a market cap of £812.32 million, a P/E ratio of -41.61, a P/E/G ratio of 1.92 and a beta of 0.76. The firm has a 50 day moving average price of GBX 922.78 and a 200 day moving average price of GBX 731.62.

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.