Bodycote (LON:BOY) Stock Crosses Above Two Hundred Day Moving Average - Here's Why

Key Points

• Bodycote plc shares crossed above their 200-day moving average, currently trading at GBX 647.45 ($8.73), signaling possible positive momentum.
• Multiple analysts have provided ratings for Bodycote, with Deutsche Bank and Berenberg Bank both issuing a "buy" rating and setting price targets of GBX 700 and GBX 800, respectively.
• The company reported earnings of GBX 21.30 per share in its last quarterly report and has a consensus earnings forecast of 54.05 for the current year, indicating growth expectations.

Shares of Bodycote plc (LON:BOY - Get Free Report) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 575.33 ($7.76) and traded as high as GBX 647.50 ($8.73). Bodycote shares last traded at GBX 647.45 ($8.73), with a volume of 323,290 shares changing hands.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on BOY shares. JPMorgan Chase & Co. reaffirmed a "neutral" rating on shares of Bodycote in a research report on Monday, August 4th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a GBX 700 price target on shares of Bodycote in a research report on Thursday, July 31st. Berenberg Bank reaffirmed a "buy" rating and set a GBX 800 price target on shares of Bodycote in a research report on Wednesday, July 30th. Finally, Royal Bank Of Canada lifted their price target on shares of Bodycote from GBX 650 to GBX 775 and gave the company an "outperform" rating in a research report on Thursday, July 31st. Three research analysts have rated the stock with a Buy rating and one has given 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 758.33.

Bodycote Price Performance

The business's 50 day moving average price is GBX 631.85 and its 200-day moving average price is GBX 575.33. 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 market cap of £1.14 billion, a PE ratio of 4,046.55, a price-to-earnings-growth ratio of 1.44 and a beta of 1.18.

Bodycote (LON:BOY - Get Free Report) last posted its quarterly earnings data 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%. As a group, analysts forecast 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.

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