Victrex (LON:VCT) Cut to Buy at Canaccord Genuity Group

Victrex (LON:VCT) was downgraded by investment analysts at Canaccord Genuity Group to a “buy” rating in a report issued on Friday,London Stock Exchange reports. They presently have a GBX 725 price target on the stock. Canaccord Genuity Group’s price objective would suggest a potential upside of 24.14% from the stock’s current price.

A number of other research firms also recently issued reports on VCT. JPMorgan Chase & Co. cut their target price on shares of Victrex from GBX 725 to GBX 625 and set a “buy” rating for the company in a research report on Wednesday, March 18th. UBS Group restated a “sell” rating and set a GBX 575 price target on shares of Victrex in a report on Monday. Finally, Jefferies Financial Group cut their price objective on Victrex from GBX 675 to GBX 595 and set a “hold” rating for the company in a report on Tuesday. Two research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Victrex has an average rating of “Hold” and a consensus target price of GBX 702.86.

Victrex Stock Down 2.3%

Shares of VCT traded down GBX 14 during trading hours on Friday, reaching GBX 584. The company’s stock had a trading volume of 348,299 shares, compared to its average volume of 712,111. The company has a 50 day moving average of GBX 602.09 and a two-hundred day moving average of GBX 642.34. The company has a quick ratio of 1.99, a current ratio of 2.35 and a debt-to-equity ratio of 21.30. The firm has a market cap of £508.80 million, a price-to-earnings ratio of 18.36, a P/E/G ratio of 1.92 and a beta of 0.75. Victrex has a 1-year low of GBX 515 and a 1-year high of GBX 834.

Victrex (LON:VCT) last posted its quarterly earnings results on Monday, May 11th. The company reported GBX 17.20 EPS for the quarter. Victrex had a negative net margin of 6.70% and a negative return on equity of 4.95%. The business had revenue of £147.10 million during the quarter. As a group, research analysts predict that Victrex will post 73.1078905 EPS for the current fiscal year.

About Victrex

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.