Volex (LON:VLX) Stock Price Down 11.6% – Should You Sell?

Volex plc (LON:VLX)’s stock price traded down 11.6% during trading on Monday. The stock traded as low as GBX 563 and last traded at GBX 563. 3,186,133 shares changed hands during mid-day trading, an increase of 46% from the average daily volume of 2,183,598 shares. The stock had previously closed at GBX 637.

Analysts Set New Price Targets

VLX has been the topic of a number of analyst reports. Canaccord Genuity Group reiterated a “buy” rating and set a GBX 710 price objective on shares of Volex in a research report on Monday. Jefferies Financial Group reiterated a “buy” rating and set a GBX 750 price target on shares of Volex in a research note on Monday. Berenberg Bank restated a “buy” rating and issued a GBX 700 price objective on shares of Volex in a research report on Tuesday, July 14th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Volex from GBX 500 to GBX 590 and gave the company a “hold” rating in a research note on Friday, June 26th. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of GBX 687.50.

Volex Trading Down 11.6%

The company’s 50 day simple moving average is GBX 616.72 and its 200 day simple moving average is GBX 589.95. The firm has a market cap of £1.03 billion, a price-to-earnings ratio of 16.13 and a beta of 1.21. The company has a debt-to-equity ratio of 46.75, a current ratio of 1.74 and a quick ratio of 1.04.

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.