Bodycote (LON:BOY) Share Price Crosses Above 200-Day Moving Average – Here’s Why

Bodycote plc (LON:BOY)’s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 746.44 and traded as high as GBX 948. Bodycote shares last traded at GBX 941.50, with a volume of 13,695,923 shares traded.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a GBX 960 target price on shares of Bodycote in a research note on Thursday, August 6th. Jefferies Financial Group restated a “buy” rating and issued a GBX 900 price target on shares of Bodycote in a research note on Wednesday, July 29th. Royal Bank Of Canada upped their price target on Bodycote from GBX 750 to GBX 950 and gave the stock a “sector perform” rating in a report on Thursday, August 6th. Finally, Berenberg Bank increased their price target on Bodycote from GBX 900 to GBX 933 and gave the stock a “hold” rating in a research report on Friday, September 4th. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 881.33.

Bodycote Stock Up 0.8%

The stock has a market cap of £1.63 billion, a price-to-earnings ratio of 28.59, a PEG ratio of 1.44 and a beta of 1.35. The business’s 50 day moving average is GBX 837.01 and its 200-day moving average is GBX 747.66. The company has a debt-to-equity ratio of 35.03, a quick ratio of 0.74 and a current ratio of 1.12.

Bodycote (LON:BOY) last posted its quarterly earnings data on Tuesday, July 28th. The company reported GBX 18.10 earnings per share for the quarter. Bodycote had a net margin of 7.87% and a return on equity of 9.30%. On average, sell-side analysts predict 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.