Velocity Composites (LON:VEL) Trading Up 2.8% – Time to Buy?

Velocity Composites plc (LON:VEL – Get Free Report)’s stock price shot up 2.8% on Friday . The company traded as high as GBX 18.68 and last traded at GBX 18.50. Approximately 43,217 shares changed hands during trading, a decline of 32% from the average daily volume of 63,542 shares. The stock had previously closed at GBX 18.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group reissued a “buy” rating and set a GBX 40 price target on shares of Velocity Composites in a report on Wednesday, June 24th. One research analyst has rated the stock with a Buy rating, According to MarketBeat, Velocity Composites has a consensus rating of “Buy” and a consensus target price of GBX 40.

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Velocity Composites Stock Performance

The stock has a 50 day moving average of GBX 15.03 and a 200 day moving average of GBX 14.54. The company has a quick ratio of 2.66, a current ratio of 1.31 and a debt-to-equity ratio of 41.08. The company has a market capitalization of £10.11 million, a price-to-earnings ratio of -6.54 and a beta of 1.16.

Velocity Composites (LON:VEL – Get Free Report) last announced its earnings results on Wednesday, June 24th. The company reported GBX (1.89) earnings per share for the quarter. The firm had revenue of GBX 844 million for the quarter. Velocity Composites had a negative return on equity of 32.89% and a negative net margin of 8.25%. As a group, analysts predict that Velocity Composites plc will post 0.7403055 EPS for the current year.

Velocity Composites Company Profile

(Get Free Report)

Velocity Composites plc, together with its subsidiaries, offers engineered composite material kits to the aerospace industry in the United Kingdom, Europe, the United States, and internationally. It provides structural material kits, such as ply generation, shape management and configuration control, life management, and cutting and supply service, as well as materials comprising woven fabrics, unidirectional fabrics, impregnated metallic meshes, and film adhesives. The company also offers engineered vacuum bag material kits; and honeycomb, core potting compounds, and co-bonded materials, including hole potting compound kits, cut shape metallic foils and meshes for lightning strike protection/EMI shielding, honeycomb and foam core products, and kitted co-bonded films.

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