Jefferies Financial Group Issues Pessimistic Forecast for Victrex (LON:VCT) Stock Price

Victrex (LON:VCT) had its target price reduced by investment analysts at Jefferies Financial Group from GBX 675 to GBX 595 in a research report issued to clients and investors on Tuesday,London Stock Exchange reports. The brokerage presently has a “hold” rating on the stock. Jefferies Financial Group’s price objective would indicate a potential upside of 4.60% from the company’s current price.

A number of other research analysts have also recently commented on VCT. Canaccord Genuity Group restated a “buy” rating and set a GBX 725 price target on shares of Victrex in a research note on Monday, April 13th. JPMorgan Chase & Co. decreased their price target on Victrex from GBX 725 to GBX 625 and set a “buy” rating on the stock in a research note on Wednesday, March 18th. Finally, UBS Group restated a “sell” rating and set a GBX 575 price target on shares of Victrex in a research note on Monday. Two equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Victrex presently has an average rating of “Hold” and an average target price of GBX 702.86.

Victrex Stock Down 2.4%

LON:VCT opened at GBX 568.84 on Tuesday. The company has a quick ratio of 1.99, a current ratio of 3.01 and a debt-to-equity ratio of 11.30. The stock’s fifty day moving average is GBX 607.92 and its two-hundred day moving average is GBX 644.06. Victrex has a 52 week low of GBX 515 and a 52 week high of GBX 865. The stock has a market capitalization of £495.60 million, a price-to-earnings ratio of 17.89, a price-to-earnings-growth ratio of 1.92 and a beta of 0.75.

Victrex (LON:VCT) last released its quarterly earnings results on Monday, May 11th. The company reported GBX 17.20 EPS for the quarter. Victrex had a return on equity of 6.40% and a net margin of 9.50%.The company had revenue of £147.10 million for the quarter. Research analysts anticipate that Victrex will post 73.1078905 EPS for the current year.

Trending Headlines about Victrex

Here are the key news stories impacting Victrex this week:

• Negative Sentiment: Victrex reported lower first-half profit, indicating softer operating performance and reduced earnings momentum. Victrex reports lower first-half profit
• Negative Sentiment: The company said it is accelerating its restructuring programme and will cut about 10% of jobs after issues at its China plant hurt profits, suggesting additional costs and operational headwinds. Victrex to axe 10% of jobs after China plant trouble hit profits
• Negative Sentiment: Victrex also said profit declined as the restructuring programme accelerated, reinforcing concerns that near-term earnings may remain under pressure. Victrex (VCT) Sees Profit Decline as Restructuring Programme Accelerates
• Neutral Sentiment: UBS Group reaffirmed its sell rating on Victrex and kept a GBX 575 price target, which may add to cautious sentiment but does not introduce new company-specific fundamentals. Victrex’s (VCT) Sell Rating Reaffirmed at UBS Group
• Neutral Sentiment: Victrex also released quarterly earnings showing EPS of GBX 17.20 on revenue of £147.1 million, which provides updated financial context but was not as clearly supportive as the restructuring headlines. Victrex earnings report

Victrex Company Profile

Victrex plc, through its subsidiaries, engages in the manufacture and sale of polymer solutions worldwide. The company operates through two segments, Sustainable Solutions and Medical. It develops PEEK and PAEK based polymer solutions, and semi-finished and finished parts. The company also provides specialist solutions for medical device manufacturers; sells thermoplastic polymers; sustainable solutions for energy and industrial, VAR, automotive, aerospace, and electronics markets; and engages in trading activities.