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

Shares of Velocity Composites plc (LON:VEL) were up 2.8% during mid-day trading on Friday . The company traded as high as GBX 18.68 and last traded at GBX 18.50. 43,217 shares changed hands during mid-day trading, a decline of 32% from the average daily volume of 63,542 shares. The stock had previously closed at GBX 18.

Wall Street Analyst Weigh In

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

Velocity Composites Price 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 firm’s 50-day moving average is GBX 15.03 and its 200-day moving average is GBX 14.54.

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

Velocity Composites Company Profile

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.