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

Key Points

• Bodycote shares rose above their 200-day moving average, reaching GBX 954.50 before last trading at GBX 950 on heavy volume of roughly 19.1 million shares.
• Analyst sentiment is broadly positive, with an overall “Moderate Buy” rating, though the average price target of GBX 881.33 is below the current share price.
• The company reported quarterly EPS of GBX 18.10, alongside a 7.87% net margin and 9.30% return on equity; analysts expect full-year EPS of approximately 54.05 pence.

Bodycote plc (LON:BOY - Get Free Report) shares crossed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of GBX 756.59 and traded as high as GBX 954.50. Bodycote shares last traded at GBX 950, with a volume of 19,082,432 shares traded.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Jefferies Financial Group reiterated a "buy" rating and issued a GBX 900 price target on shares of Bodycote in a research note on Wednesday, July 29th. Berenberg Bank raised their price objective on Bodycote from GBX 900 to GBX 933 and gave the stock a "hold" rating in a research note on Friday, September 4th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a GBX 960 price objective on shares of Bodycote in a report on Thursday, August 6th. Finally, Royal Bank Of Canada upped their target price on Bodycote from GBX 750 to GBX 950 and gave the company a "sector perform" rating in a research report on Thursday, August 6th. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of GBX 881.33.

Bodycote Stock Down 0.3%

The firm's 50-day moving average price is GBX 872.42 and its 200 day moving average price is GBX 756.59. The company has a current ratio of 1.12, a quick ratio of 0.74 and a debt-to-equity ratio of 35.03. The company has a market capitalization of £1.61 billion, a price-to-earnings ratio of 28.27, a PEG ratio of 1.44 and a beta of 1.35.

Bodycote (LON:BOY - Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The company reported GBX 18.10 earnings per share (EPS) for the quarter. Bodycote had a net margin of 7.87% and a return on equity of 9.30%. On average, sell-side analysts forecast that Bodycote plc will post 54.0540541 EPS 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.

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