Canaccord Genuity Group Reiterates Buy Rating for Velocity Composites (LON:VEL)

Velocity Composites (LON:VEL)‘s stock had its “buy” rating restated by investment analysts at Canaccord Genuity Group in a research report issued to clients and investors on Wednesday,Digital Look reports. They presently have a GBX 40 target price on the stock. Canaccord Genuity Group’s price target indicates a potential upside of 186.20% from the company’s current price.

Velocity Composites Stock Performance

Shares of VEL stock traded down GBX 1.02 during mid-day trading on Wednesday, reaching GBX 13.98. The stock had a trading volume of 128,062 shares, compared to its average volume of 74,272. The business’s fifty day moving average is GBX 13.88 and its 200-day moving average 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. The firm has a market cap of £7.64 million, a price-to-earnings ratio of -6.99 and a beta of 1.14. Velocity Composites has a 1-year low of GBX 11.50 and a 1-year high of GBX 33.

Velocity Composites (LON:VEL) last issued its earnings results on Wednesday, June 24th. The company reported GBX (1.89) earnings per share (EPS) for the quarter. The business had revenue of GBX 844 million for the quarter. Velocity Composites had a negative return on equity of 20.69% and a negative net margin of 5.24%. On average, research analysts forecast that Velocity Composites will post 0.7403055 earnings per share 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.