Volex (LON:VLX) Upgraded to “Buy” at Canaccord Genuity Group

Canaccord Genuity Group upgraded shares of Volex (LON:VLX) to a buy rating in a research report sent to investors on Tuesday morning,Digital Look reports. Canaccord Genuity Group currently has GBX 600 price objective on the stock, up from their previous price objective of GBX 590.

VLX has been the subject of a number of other reports. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Volex from GBX 500 to GBX 590 and gave the company a “hold” rating in a research report on Friday, June 26th. Berenberg Bank restated a “buy” rating and set a GBX 700 target price on shares of Volex in a research report on Tuesday, July 14th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a GBX 700 target price on shares of Volex in a report on Thursday, June 25th. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of GBX 594.

Volex Price Performance

VLX stock opened at GBX 520 on Tuesday. The business has a 50 day moving average price of GBX 595.30 and a 200 day moving average price of GBX 524.15. The stock has a market cap of £958.22 million, a price-to-earnings ratio of 14.90 and a beta of 1.21. Volex has a fifty-two week low of GBX 325 and a fifty-two week high of GBX 710. The company has a quick ratio of 1.04, a current ratio of 1.74 and a debt-to-equity ratio of 46.75.

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

Insider Transactions at Volex

In related news, insider Nathaniel Rothschild acquired 7,500 shares of Volex stock in a transaction on Thursday, July 9th. The stock was purchased at an average cost of GBX 510 per share, with a total value of £38,250. 34.97% of the stock is owned by company insiders.

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.