Jefferies Financial Group Issues Pessimistic Forecast for Victrex (LON:VCT) Stock Price

Victrex (LON:VCT) had its target price reduced by Jefferies Financial Group from GBX 675 to GBX 595 in a report released on Tuesday,London Stock Exchange reports. The firm currently has a “hold” rating on the stock. Jefferies Financial Group’s price objective would indicate a potential upside of 4.60% from the company’s previous close.

Several other equities analysts have also commented on VCT. UBS Group reissued a “sell” rating and issued a GBX 575 target price on shares of Victrex in a report on Monday. Canaccord Genuity Group reissued a “buy” rating and issued a GBX 725 target price on shares of Victrex in a report on Monday, April 13th. Finally, JPMorgan Chase & Co. dropped their target price on Victrex from GBX 725 to GBX 625 and set a “buy” rating on the stock in a report on Wednesday, March 18th. Two analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of GBX 702.86.

Victrex Stock Down 2.4%

Victrex stock opened at GBX 568.84 on Tuesday. Victrex has a twelve month low of GBX 515 and a twelve month high of GBX 865. The stock’s fifty day simple moving average is GBX 607.92 and its 200-day simple moving average is GBX 644.06. The company has a current ratio of 3.01, a quick ratio of 1.99 and a debt-to-equity ratio of 11.30. The firm has a market capitalization of £495.60 million, a P/E ratio of 17.89, a P/E/G ratio of 1.92 and a beta of 0.75.

Victrex (LON:VCT) last posted its quarterly earnings data on Monday, May 11th. The company reported GBX 17.20 earnings per share for the quarter. Victrex had a return on equity of 6.40% and a net margin of 9.50%.The business had revenue of £147.10 million for the quarter. As a group, equities analysts expect that Victrex will post 73.1078905 earnings per share for the current fiscal year.

Key Stories Impacting Victrex

Here are the key news stories impacting Victrex this week:

• Negative Sentiment: Victrex reported lower first-half profit, indicating softer operating performance and reduced earnings momentum. Victrex reports lower first-half profit
• Negative Sentiment: The company said it is accelerating its restructuring programme and will cut about 10% of jobs after issues at its China plant hurt profits, suggesting additional costs and operational headwinds. Victrex to axe 10% of jobs after China plant trouble hit profits
• Negative Sentiment: Victrex also said profit declined as the restructuring programme accelerated, reinforcing concerns that near-term earnings may remain under pressure. Victrex (VCT) Sees Profit Decline as Restructuring Programme Accelerates
• Neutral Sentiment: UBS Group reaffirmed its sell rating on Victrex and kept a GBX 575 price target, which may add to cautious sentiment but does not introduce new company-specific fundamentals. Victrex’s (VCT) Sell Rating Reaffirmed at UBS Group
• Neutral Sentiment: Victrex also released quarterly earnings showing EPS of GBX 17.20 on revenue of £147.1 million, which provides updated financial context but was not as clearly supportive as the restructuring headlines. Victrex earnings report

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.