Volex (LON:VLX) Stock Passes Above 200 Day Moving Average – Here’s Why

Volex plc (LON:VLX)’s share price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of GBX 386.16 and traded as high as GBX 449.50. Volex shares last traded at GBX 440, with a volume of 458,635 shares.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Jefferies Financial Group lifted their price target on Volex from GBX 470 to GBX 500 and gave the company a “buy” rating in a report on Thursday, January 22nd. Peel Hunt restated a “buy” rating and issued a GBX 380 price objective on shares of Volex in a research report on Thursday, October 16th. Finally, Berenberg Bank boosted their target price on shares of Volex from GBX 430 to GBX 470 and gave the stock a “buy” rating in a research note on Tuesday, November 18th. Four research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Volex has an average rating of “Buy” and a consensus target price of GBX 422.50.

Volex Stock Up 5.6%

The firm has a 50 day moving average price of GBX 424 and a 200-day moving average price of GBX 386.16. The firm has a market cap of £853.09 million, a price-to-earnings ratio of 15.28 and a beta of 1.03. The company has a debt-to-equity ratio of 64.83, a current ratio of 1.53 and a quick ratio of 1.04.

Insider Transactions at Volex

In other Volex news, insider Nathaniel Rothschild bought 95,000 shares of the stock in a transaction on Thursday, January 8th. The stock was purchased at an average price of GBX 399 per share, with a total value of £379,050. Insiders own 35.06% of the company’s stock.

About Volex

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.