Bodycote (LON:BOY) Share Price Passes Above 200-Day Moving Average - Here's Why

Key Points

• Bodycote's stock price recently crossed above its 200-day moving average, trading at GBX 642 ($8.71) after reaching a high of GBX 653.50 ($8.86).
• Analysts have a consensus rating of "Moderate Buy" for Bodycote, with price targets ranging from GBX 650 to GBX 800, indicating potential further growth.
• The firm reported earnings of GBX 21.30 per share for the last quarter, with expectations set for 54.05 EPS for the current fiscal year.

Shares of Bodycote plc (LON:BOY - Get Free Report) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of GBX 575.75 ($7.80) and traded as high as GBX 653.50 ($8.86). Bodycote shares last traded at GBX 642 ($8.70), with a volume of 122,337 shares.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Berenberg Bank reaffirmed a "buy" rating and set a GBX 800 price target on shares of Bodycote in a research note on Wednesday, July 30th. Royal Bank Of Canada boosted their target price on Bodycote from GBX 650 to GBX 775 and gave the company an "outperform" rating in a research note on Thursday, July 31st. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a GBX 700 target price on shares of Bodycote in a research note on Thursday, July 31st. Finally, JPMorgan Chase & Co. reissued a "neutral" rating on shares of Bodycote in a research note on Monday, August 4th. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of GBX 758.33.

Bodycote Stock Performance

The company has a debt-to-equity ratio of 20.84, a quick ratio of 0.74 and a current ratio of 0.81. The business has a 50 day moving average price of GBX 623.72 and a two-hundred day moving average price of GBX 575.50. The company has a market cap of £1.12 billion, a P/E ratio of 3,993.75, a price-to-earnings-growth ratio of 1.44 and a beta of 1.18.

Bodycote (LON:BOY - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The company reported GBX 21.30 earnings per share (EPS) for the quarter. Bodycote had a return on equity of 8.14% and a net margin of 8.01%. On average, sell-side analysts anticipate that Bodycote plc will post 54.0540541 earnings per share for the current 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.