Volex (LON:VLX) Trading Up 15.7% – Here’s What Happened

Shares of Volex plc (LON:VLX) rose 15.7% during mid-day trading on Tuesday . The company traded as high as GBX 653 and last traded at GBX 618.02. 146,799,594 shares were traded during mid-day trading, an increase of 4,535% from the average daily volume of 3,167,394 shares. The stock had previously closed at GBX 534.

Wall Street Analysts Forecast Growth

Several brokerages have commented on VLX. Jefferies Financial Group restated a “buy” rating and issued a GBX 700 price objective on shares of Volex in a report on Tuesday. Canaccord Genuity Group upgraded Volex to a “buy” rating and upped their target price for the stock from GBX 590 to GBX 600 in a report on Tuesday, July 21st. Deutsche Bank Aktiengesellschaft increased their target price on Volex from GBX 500 to GBX 590 and gave the stock a “hold” rating in a research report on Friday, June 26th. Finally, Berenberg Bank restated a “buy” rating and set a GBX 700 price target on shares of Volex in a research report on Tuesday, July 14th. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of GBX 594.

Volex Stock Up 15.7%

The company has a debt-to-equity ratio of 46.75, a quick ratio of 1.04 and a current ratio of 1.74. The stock’s 50-day moving average price is GBX 543.62 and its two-hundred day moving average price is GBX 541.67. The stock has a market capitalization of £1.13 billion, a PE ratio of 17.71 and a beta of 1.19.

Volex (LON:VLX) last issued its quarterly earnings results on Friday, June 26th. The company reported GBX 35.20 earnings per share (EPS) for the quarter. Volex had a net margin of 5.29% and a return on equity of 15.29%. The company had revenue of GBX 124.26 billion during the quarter. As a group, analysts expect that Volex plc will post 30.9454191 EPS for the current fiscal year.

Insider Activity

In other Volex news, insider Nathaniel Rothschild bought 7,500 shares of the stock in a transaction dated Thursday, July 9th. The stock was purchased at an average cost of GBX 510 per share, for a total transaction of £38,250. Insiders own 35.11% of the company’s stock.

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.