Bodycote (LON:BOY) Share Price Breaks Above Two Hundred Day Moving Average – Here’s Why

Bodycote plc (LON:BOY)’s stock price passed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of GBX 791.75 and traded as high as GBX 910.50. Bodycote shares last traded at GBX 910, with a volume of 3,015,144 shares trading hands.

Wall Street Analyst Weigh In

BOY has been the subject of several research reports. Jefferies Financial Group reiterated a “buy” rating and issued a GBX 900 target price on shares of Bodycote in a report on Wednesday, July 29th. Royal Bank Of Canada upped their target price on Bodycote from GBX 750 to GBX 950 and gave the company a “sector perform” rating in a research report on Thursday, August 6th. Berenberg Bank lifted their price objective on shares of Bodycote from GBX 900 to GBX 933 and gave the company a “hold” rating in a research report on Friday, September 4th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a GBX 960 price target on shares of Bodycote in a research note on Thursday, August 6th. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of GBX 881.33.

Bodycote Price Performance

The firm has a market cap of £1.54 billion, a PE ratio of 27.08, a P/E/G ratio of 1.44 and a beta of 1.35. The company has a quick ratio of 0.74, a current ratio of 1.12 and a debt-to-equity ratio of 35.03. The firm’s 50 day moving average is GBX 925.37 and its 200-day moving average is GBX 793.70.

Bodycote (LON:BOY) last released its earnings results on Tuesday, July 28th. The company reported GBX 18.10 earnings per share for the quarter. Bodycote had a return on equity of 9.30% and a net margin of 7.87%. As a group, equities research analysts expect that Bodycote plc will post 54.05 earnings per share for the current fiscal year.

About Bodycote

The leading provider of heat treatment and specialist thermal processing services worldwide.

Heat treatment encompasses a variety of techniques and specialist engineering processes which improve the properties of metals and alloys and extend the life of components and is a vital part of any manufacturing process.

Bodycote is uniquely placed via our global network and the experience and knowledge of our people to offer high quality, reliable and cost-effective services to manufacturers whatever their size or market sector.