Velocity Composites (LON:VEL) Given Buy Rating at Canaccord Genuity Group

Velocity Composites (LON:VEL)‘s stock had its “buy” rating reiterated by equities research analysts at Canaccord Genuity Group in a research note issued on Wednesday,Digital Look reports. They presently have a GBX 40 target price on the stock. Canaccord Genuity Group’s price target points to a potential upside of 186.20% from the stock’s previous close.

Velocity Composites Trading Down 6.8%

Shares of Velocity Composites stock traded down GBX 1.02 on Wednesday, hitting GBX 13.98. 128,062 shares of the company traded hands, compared to its average volume of 74,272. The stock’s 50 day moving average price is GBX 13.88 and its 200-day moving average price is GBX 15.05. The company has a current ratio of 1.49, a quick ratio of 2.66 and a debt-to-equity ratio of 69.71. Velocity Composites has a 52 week low of GBX 11.50 and a 52 week high of GBX 33. The company has a market cap of £7.64 million, a PE ratio of -6.99 and a beta of 1.14.

Velocity Composites (LON:VEL) last announced its quarterly earnings data on Wednesday, June 24th. The company reported GBX (1.89) earnings per share (EPS) for the quarter. The firm had revenue of GBX 844 million during the quarter. Velocity Composites had a negative return on equity of 20.69% and a negative net margin of 5.24%. Equities research analysts predict that Velocity Composites will post 0.7403055 EPS for the current year.

About Velocity Composites

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.