Bodycote's (BOY) "Buy" Rating Reaffirmed at Berenberg Bank

Key Points

• Berenberg Bank reaffirmed a "Buy" rating on Bodycote with a target price of GBX 900, implying roughly a 21.9% upside from the company's previous close.
• Analyst consensus is a "Moderate Buy" (four Buys, two Holds) with a consensus price target of GBX 825, above the recent trading level (opened GBX 738.50) and below the highest broker target of GBX 925.
• Fundamentals show a relatively high valuation and mixed profitability — market cap £1.27bn, P/E 46.16, last quarter EPS GBX 44.40 and a net margin 3.91% — which could temper upside despite analyst optimism.

Bodycote (LON:BOY - Get Free Report)'s stock had its "buy" rating reissued by analysts at Berenberg Bank in a research report issued on Thursday,Digital Look reports. They currently have a GBX 900 target price on the stock. Berenberg Bank's price objective would indicate a potential upside of 21.87% from the company's previous close.

A number of other equities research analysts have also commented on the company. Deutsche Bank Aktiengesellschaft decreased their price target on Bodycote from GBX 860 to GBX 835 and set a "buy" rating on the stock in a research report on Tuesday, November 18th. JPMorgan Chase & Co. reaffirmed a "neutral" rating on shares of Bodycote in a report on Tuesday, January 6th. Peel Hunt restated a "buy" rating and issued a GBX 845 price objective on shares of Bodycote in a research report on Tuesday, November 18th. Finally, Jefferies Financial Group boosted their target price on shares of Bodycote from GBX 915 to GBX 925 and gave the stock a "buy" rating in a research note on Monday, January 26th. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Bodycote has an average rating of "Moderate Buy" and a consensus price target of GBX 825.

Bodycote Stock Performance

Shares of LON:BOY opened at GBX 738.50 on Thursday. Bodycote has a fifty-two week low of GBX 449.40 and a fifty-two week high of GBX 800. The company has a debt-to-equity ratio of 29.79, a current ratio of 0.74 and a quick ratio of 0.74. The business's fifty day moving average price is GBX 753.17 and its two-hundred day moving average price is GBX 685.42. The stock has a market capitalization of £1.27 billion, a price-to-earnings ratio of 46.16, a price-to-earnings-growth ratio of 1.44 and a beta of 1.22.

Bodycote (LON:BOY - Get Free Report) last announced its quarterly earnings results on Wednesday, March 11th. The company reported GBX 44.40 earnings per share (EPS) for the quarter. Bodycote had a net margin of 3.91% and a return on equity of 4.34%. As a group, analysts predict that Bodycote 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 reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.