Velocity Composites (LON:VEL) Stock Jumps 1.7% – Still a Buy?

Velocity Composites plc (LON:VEL) shares shot up 1.7% on Friday. The stock traded as high as GBX 17.80 and last traded at GBX 17.80. Approximately 17,000 shares traded hands during mid-day trading, a decline of 73% from the average session volume of 63,634 shares. The stock had previously closed at GBX 17.50.

Analyst Ratings Changes

Separately, Canaccord Genuity Group reaffirmed a “buy” rating and issued a GBX 40 price objective on shares of Velocity Composites in a research report on Wednesday, June 24th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, Velocity Composites has a consensus rating of “Buy” and an average target price of GBX 40.

Velocity Composites Stock Up 1.7%

The company’s 50 day moving average price is GBX 16.46 and its 200 day moving average price is GBX 14.84. 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 has a market capitalization of £9.73 million, a price-to-earnings ratio of -6.29 and a beta of 1.19.

Velocity Composites (LON:VEL) last announced its quarterly earnings data 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 company had revenue of GBX 844 million for the quarter. As a group, research analysts forecast 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.