Bodycote (LON:BOY) Shares Pass Above 200-Day Moving Average - Time to Sell?

Key Points

• Bodycote plc shares crossed above their 200-day moving average during trading, reaching a high of GBX 653 ($8.77) before closing at GBX 645.01 ($8.66).
• Equity analysts have raised their price targets for Bodycote, with Royal Bank of Canada increasing its target to GBX 775 and Deutsche Bank to GBX 860, reflecting a consensus rating of "Moderate Buy".
• The company has reported a strong net margin of 8.01% and is expected to post an EPS of approximately 54.05 for the current fiscal year.

Shares of Bodycote plc (LON:BOY - Get Free Report) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 582.69 ($7.82) and traded as high as GBX 653 ($8.77). Bodycote shares last traded at GBX 645.01 ($8.66), with a volume of 187,284 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Royal Bank Of Canada boosted their price target on Bodycote from GBX 650 to GBX 775 and gave the company an "outperform" rating in a research report on Thursday, July 31st. Berenberg Bank restated a "buy" rating and set a GBX 800 price objective on shares of Bodycote in a research note on Wednesday, July 30th. Deutsche Bank Aktiengesellschaft boosted their price objective on Bodycote from GBX 700 to GBX 860 and gave the stock a "buy" rating in a research note on Monday, October 6th. Finally, JPMorgan Chase & Co. restated a "neutral" rating on shares of Bodycote in a research note on Monday, August 4th. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, Bodycote currently has a consensus rating of "Moderate Buy" and an average price target of GBX 811.67.

Bodycote Stock Performance

The company has a quick ratio of 0.74, a current ratio of 0.81 and a debt-to-equity ratio of 20.84. The company has a 50 day moving average of GBX 642.29 and a 200 day moving average of GBX 582.69. The firm has a market cap of £1.13 billion, a price-to-earnings ratio of 4,031.31, a PEG ratio of 1.44 and a beta of 1.18.

Bodycote (LON:BOY - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported GBX 21.30 EPS for the quarter. Bodycote had a return on equity of 8.14% and a net margin of 8.01%. As a group, equities research analysts expect 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.

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