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

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

Other equities analysts have also issued research reports about the stock. Jefferies Financial Group dropped their price target on shares of Victrex from GBX 675 to GBX 595 and set a “hold” rating on the stock in a research report on Tuesday. UBS Group reaffirmed a “sell” rating and set a GBX 575 price objective on shares of Victrex in a report on Monday. Finally, JPMorgan Chase & Co. dropped their target price on shares of Victrex from GBX 725 to GBX 625 and set a “buy” rating on the stock in a report on Wednesday, March 18th. Two research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of GBX 702.86.

Victrex Stock Down 2.3%

Victrex stock traded down GBX 14 during mid-day trading on Friday, hitting GBX 584. 348,299 shares of the company’s stock were exchanged, compared to its average volume of 712,111. Victrex has a 1-year low of GBX 515 and a 1-year high of GBX 834. The stock 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 current ratio of 2.35, a quick ratio of 1.99 and a debt-to-equity ratio of 21.30. The stock has a market cap of £508.80 million, a P/E ratio of 18.36, a P/E/G ratio of 1.92 and a beta of 0.75.

Victrex (LON:VCT) last announced its quarterly earnings results on Monday, May 11th. The company reported GBX 17.20 earnings per share for the quarter. Victrex had a negative return on equity of 4.95% and a negative net margin of 6.70%.The company had revenue of £147.10 million during the quarter. As a group, analysts anticipate 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.