Volex (LON:VLX) Raised to Buy at Canaccord Genuity Group

Volex (LON:VLX) was upgraded by analysts at Canaccord Genuity Group to a “buy” rating in a research note issued to investors on Tuesday,Digital Look reports. The firm currently has a GBX 600 target price on the stock, up from their previous target price of GBX 590. Canaccord Genuity Group’s price target indicates a potential upside of 13.21% from the company’s current price.

Several other equities research analysts also recently commented on the company. Jefferies Financial Group reissued a “buy” rating and issued a GBX 700 price objective on shares of Volex in a report on Thursday, June 25th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Volex from GBX 500 to GBX 590 and gave the stock a “hold” rating in a report on Friday, June 26th. Finally, Berenberg Bank reiterated a “buy” rating and issued a GBX 700 price target on shares of Volex in a research note on Tuesday, July 14th. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of GBX 594.

Volex Trading Up 1.9%

Shares of LON:VLX opened at GBX 530 on Tuesday. The company’s 50-day moving average price is GBX 592.62 and its two-hundred day moving average price is GBX 524.94. Volex has a one year low of GBX 325 and a one year high of GBX 710. The company has a debt-to-equity ratio of 46.75, a current ratio of 1.74 and a quick ratio of 1.04. The stock has a market capitalization of £976.65 million, a PE ratio of 15.19 and a beta of 1.21.

Volex (LON:VLX) last released its earnings results on Friday, June 26th. The company reported GBX 35.20 earnings per share (EPS) for the quarter. Volex had a return on equity of 15.29% and a net margin of 5.29%.The business had revenue of GBX 124.26 billion for the quarter. On average, equities analysts forecast that Volex will post 30.9454191 EPS for the current fiscal year.

Insider Activity at Volex

In related news, insider Nathaniel Rothschild purchased 7,500 shares of the firm’s stock in a transaction that occurred on Thursday, July 9th. The shares were acquired at an average price of GBX 510 per share, for a total transaction of £38,250. Insiders own 34.97% 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.