Bodycote (LON:BOY) Shares Up 13.1% - Here's Why

Key Points

• Bodycote plc's stock price surged 13.1% on Wednesday, reaching a high of GBX 661 ($8.83) before last trading at GBX 647.50 ($8.65).
• The company reported EPS of GBX 21.30 ($0.28) for the latest quarter, with analysts expecting around 54.05 earnings per share for the current fiscal year.
• Bodycote maintains a debt-to-equity ratio of 20.84 and a market capitalization of £1.16 billion, indicating strong financial positioning.

Bodycote plc (LON:BOY - Get Free Report) was up 13.1% on Wednesday . The company traded as high as GBX 661 ($8.77) and last traded at GBX 647.50 ($8.59). Approximately 188,206 shares changed hands during mid-day trading, a decline of 63% from the average daily volume of 507,610 shares. The stock had previously closed at GBX 572.50 ($7.60).

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on BOY shares. Royal Bank Of Canada boosted their target price on Bodycote from GBX 650 ($8.63) to GBX 775 ($10.29) and gave the company an "outperform" rating in a research note on Thursday. Berenberg Bank reaffirmed a "buy" rating and set a GBX 800 ($10.62) price target on shares of Bodycote in a research report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a GBX 700 ($9.29) price target on shares of Bodycote in a research report on Thursday.

Bodycote Price Performance

The business has a 50-day simple moving average of GBX 582.07 and a 200 day simple moving average of GBX 577.96. The firm has a market cap of £1.12 billion, a P/E ratio of 18.87, a price-to-earnings-growth ratio of 1.44 and a beta of 1.18. The company has a debt-to-equity ratio of 20.84, a quick ratio of 0.74 and a current ratio of 0.81.

Bodycote (LON:BOY - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported GBX 21.30 ($0.28) EPS for the quarter. Bodycote had a return on equity of 8.14% and a net margin of 8.01%. On average, analysts anticipate 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.