Velocity Composites (LON:VEL) Posts Earnings Results

Velocity Composites (LON:VEL) announced its quarterly earnings data on Wednesday. The company reported GBX (1.89) EPS for the quarter, Digital Look Earnings reports. Velocity Composites had a negative return on equity of 32.89% and a negative net margin of 8.25%.The business had revenue of GBX 844 million during the quarter.

Velocity Composites Stock Performance

LON:VEL opened at GBX 12.05 on Friday. The stock has a fifty day moving average price of GBX 13.90 and a 200-day moving average price of GBX 15.02. The company has a market cap of £6.59 million, a price-to-earnings ratio of -6.03 and a beta of 1.14. The company has a debt-to-equity ratio of 40.82, a quick ratio of 2.66 and a current ratio of 1.31. Velocity Composites has a fifty-two week low of GBX 11.50 and a fifty-two week high of GBX 33.

Analyst Ratings Changes

Separately, Canaccord Genuity Group restated a “buy” rating and issued a GBX 40 price objective on shares of Velocity Composites in a research note on Wednesday. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of GBX 40.

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.