Volex (LON:VLX) Receives “Buy” Rating from Berenberg Bank

Berenberg Bank reaffirmed their buy rating on shares of Volex (LON:VLX) in a research note published on Monday morning, Digital Look reports. They currently have a GBX 400 ($5.06) price objective on the stock.

Volex Stock Performance

LON:VLX opened at GBX 337.50 ($4.27) on Monday. The firm has a market capitalization of £612.97 million, a PE ratio of 2,109.38 and a beta of 0.96. The company has a debt-to-equity ratio of 70.82, a current ratio of 1.46 and a quick ratio of 1.04. The business’s fifty day moving average price is GBX 339.81 and its 200 day moving average price is GBX 314.52. Volex has a 12 month low of GBX 264.50 ($3.35) and a 12 month high of GBX 365 ($4.62).

Volex Increases Dividend

The business also recently announced a dividend, which will be paid on Friday, August 30th. Stockholders of record on Thursday, July 25th will be issued a GBX 2.80 ($0.04) dividend. This is a boost from Volex’s previous dividend of $1.40. The ex-dividend date is Thursday, July 25th. This represents a dividend yield of 0.79%. Volex’s dividend payout ratio is presently 2,500.00%.

About Volex

Volex plc manufactures and supplies power products and cable assemblies in North America, Europe, and Asia. It provides integrated manufacturing services, such as PCB assembly, box build, and complex cable assemblies; electric vehicle charging solutions; cable harness and power products; copper interconnect cable and data transfer cable; and data center power cables and power cords.