Victrex (VCT) Hits New 1-Year Low Following Analyst Downgrade

Victrex plc (LON:VCT) hit a new 52-week low during trading on Monday after HSBC lowered their price target on the stock from GBX 2,520 to GBX 2,200. HSBC currently has a hold rating on the stock. Victrex traded as low as GBX 2,014 ($26.32) and last traded at GBX 2,020 ($26.39), with a volume of 180972 shares trading hands. The stock had previously closed at GBX 2,066 ($27.00).

Other research analysts have also recently issued reports about the stock. Peel Hunt reissued an “add” rating on shares of Victrex in a report on Monday, May 6th. Liberum Capital cut their price target on shares of Victrex from GBX 2,700 ($35.28) to GBX 2,600 ($33.97) and set a “buy” rating for the company in a report on Wednesday, May 15th. Berenberg Bank cut their price target on shares of Victrex from GBX 2,600 ($33.97) to GBX 2,550 ($33.32) and set a “hold” rating for the company in a report on Thursday, February 7th. Numis Securities reissued a “hold” rating and set a GBX 2,350 ($30.71) price target (down from GBX 2,550 ($33.32)) on shares of Victrex in a report on Monday, May 13th. Finally, JPMorgan Chase & Co. cut their price target on shares of Victrex from GBX 2,800 ($36.59) to GBX 2,300 ($30.05) and set a “neutral” rating for the company in a report on Tuesday, May 14th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of GBX 2,349 ($30.69).

In related news, insider Timothy (Tim) J. Cooper bought 710 shares of the company’s stock in a transaction on Monday, May 20th. The stock was bought at an average cost of GBX 1,266 ($16.54) per share, with a total value of £8,988.60 ($11,745.20). Also, insider Jakob Sigurdsson bought 3,000 shares of the company’s stock in a transaction on Tuesday, May 14th. The stock was bought at an average cost of GBX 2,092 ($27.34) per share, with a total value of £62,760 ($82,007.06). Insiders have purchased 3,726 shares of company stock valued at $7,210,992 over the last three months.



The firm has a market cap of $1.73 billion and a PE ratio of 17.48.

The business also recently announced a dividend, which will be paid on Friday, June 28th. Shareholders of record on Thursday, June 6th will be issued a GBX 13.42 ($0.18) dividend. The ex-dividend date is Thursday, June 6th. This represents a yield of 0.65%. Victrex’s dividend payout ratio (DPR) is presently 0.52%.

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About Victrex (LON:VCT)

Victrex plc, through its subsidiaries, manufactures and sells polymers worldwide. The company offers VICTREX PEEK polymer materials; and biomaterial solutions for use in spine, ortho, dental, trauma, knee, cardiovascular, and orthopedic applications. It also offers specialist solutions for medical device manufacturers.

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