Canaccord Genuity Group Lowers Volex (LON:VLX) Price Target to GBX 340

Volex (LON:VLX) had its price target cut by Canaccord Genuity Group from GBX 430 ($5.49) to GBX 340 ($4.34) in a research report issued to clients and investors on Tuesday, Marketbeat.com reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s target price suggests a potential upside of 55.25% from the stock’s current price.

Volex Price Performance

LON:VLX opened at GBX 219 ($2.80) on Tuesday. The company has a debt-to-equity ratio of 64.83, a current ratio of 1.53 and a quick ratio of 1.04. Volex has a one year low of GBX 190 ($2.43) and a one year high of GBX 375 ($4.79). The company has a fifty day moving average price of GBX 265.57 and a 200 day moving average price of GBX 289.64. The stock has a market cap of £507.94 million, a P/E ratio of 11.79 and a beta of 1.03.

Insider Activity at Volex

In related news, insider Jon Boaden sold 6,035 shares of the firm’s stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of GBX 264 ($3.37), for a total value of £15,932.40 ($20,358.29). Also, insider John Wilson acquired 10,000 shares of the company’s stock in a transaction that occurred on Thursday, January 16th. The stock was bought at an average price of GBX 272 ($3.48) per share, with a total value of £27,200 ($34,755.94). 32.77% of the stock is owned by corporate 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 sectors: Electric Vehicles, Consumer Electricals, Medical, Complex Industrial Technology and Off-Highway.