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

Key Points

• Bodycote plc shares surpassed their 200-day moving average of GBX 579.12, reaching a high of GBX 693 during trading, and closing at GBX 678.50 with a trading volume of 223,636 shares.
• Several analysts have upgraded Bodycote’s stock, with price targets ranging from GBX 775 to GBX 860, while the consensus rating stands at a "Moderate Buy" with an average target price of GBX 811.67.
• Bodycote recently reported an earnings per share (EPS) of GBX 21.30, contributing to a return on equity of 8.14% and a net margin of 8.01% for the company.

Shares of Bodycote plc (LON:BOY - Get Free Report) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 579.12 ($7.70) and traded as high as GBX 693 ($9.22). Bodycote shares last traded at GBX 678.50 ($9.02), with a volume of 223,636 shares trading hands.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Royal Bank Of Canada lifted their price target on Bodycote from GBX 650 to GBX 775 and gave the company an "outperform" rating in a report on Thursday, July 31st. Berenberg Bank reiterated a "buy" rating and set a GBX 800 price target on shares of Bodycote in a report on Wednesday, July 30th. Deutsche Bank Aktiengesellschaft boosted their target price on Bodycote from GBX 700 to GBX 860 and gave the company a "buy" rating in a research note on Monday. Finally, JPMorgan Chase & Co. restated a "neutral" rating on shares of Bodycote in a research note on Monday, August 4th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of GBX 811.67.

Bodycote Stock Down 0.5%

The stock has a market cap of £1.18 billion, a PE ratio of 4,218.75, a P/E/G ratio of 1.44 and a beta of 1.18. The business has a 50 day simple moving average of GBX 639.90 and a 200 day simple moving average of GBX 579.12. The company has a debt-to-equity ratio of 20.84, a current ratio of 0.81 and a quick ratio of 0.74.

Bodycote (LON:BOY - Get Free Report) last released 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, equities research analysts forecast that Bodycote plc will post 54.0540541 EPS 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.