Velocity Composites (LON:VEL) Trading 2.8% Higher – Still a Buy?

Velocity Composites plc (LON:VEL) rose 2.8% during trading on Friday . The stock traded as high as GBX 18.68 and last traded at GBX 18.50. Approximately 43,217 shares were traded during trading, a decline of 32% from the average session volume of 63,542 shares. The stock had previously closed at GBX 18.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group reiterated a “buy” rating and issued a GBX 40 target price on shares of Velocity Composites in a research note on Wednesday, June 24th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of GBX 40.

Velocity Composites Stock Performance

The company has a market capitalization of £10.11 million, a PE ratio of -6.54 and a beta of 1.16. 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 50-day moving average price of GBX 15.03 and a two-hundred day moving average price of GBX 14.54.

Velocity Composites (LON:VEL) last issued its quarterly earnings data on Wednesday, June 24th. The company reported GBX (1.89) earnings per share (EPS) for the quarter. The company 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%. Analysts predict that Velocity Composites plc will post 0.7403055 EPS for the current fiscal 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.