Bodycote (LON:BOY) Shares Cross Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• Bodycote plc's share price has surpassed its **200-day moving average**, indicating a positive trend as its shares traded at GBX 636 ($8.58) after reaching a high of GBX 640.50 ($8.64).
• Multiple analysts have rated Bodycote with a **"Buy"** rating, setting new price targets ranging from GBX 700 to GBX 800, contributing to an average target price of **GBX 758.33**.
• The company reported an earnings per share (EPS) of **GBX 21.30** for the last quarter, with an expected EPS of **54.05** for the current fiscal year, showcasing a solid financial outlook.

Bodycote plc (LON:BOY - Get Free Report) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 577.07 ($7.80) and traded as high as GBX 640.50 ($8.66). Bodycote shares last traded at GBX 636 ($8.60), with a volume of 118,230 shares trading hands.

Analyst Ratings Changes

BOY has been the subject of several analyst reports. Berenberg Bank reiterated a "buy" rating and issued a GBX 800 target price on shares of Bodycote in a research note on Wednesday, July 30th. JPMorgan Chase & Co. restated a "neutral" rating on shares of Bodycote in a research report on Monday, August 4th. Royal Bank Of Canada upped their price objective on shares of Bodycote from GBX 650 to GBX 775 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Finally, Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a GBX 700 price objective on shares of Bodycote in a research report on Thursday, July 31st. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of GBX 758.33.

Bodycote Price Performance

The stock's 50-day moving average price is GBX 603.16 and its 200 day moving average price is GBX 576.66. The firm has a market capitalization of £1.16 billion, a price-to-earnings ratio of 19.57, a PEG ratio of 1.44 and a beta of 1.18. The company has a quick ratio of 0.74, a current ratio of 0.81 and a debt-to-equity ratio of 20.84.

Bodycote (LON:BOY - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported GBX 21.30 EPS for the quarter. Bodycote had a net margin of 8.01% and a return on equity of 8.14%. Equities research analysts expect that Bodycote plc will post 54.0540541 earnings per share for the current fiscal year.

Bodycote Company Profile

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.