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

Bodycote plc (LON:BOY) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 694.50 and traded as high as GBX 712.50. Bodycote shares last traded at GBX 698.50, with a volume of 5,552,629 shares trading hands.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on BOY shares. Berenberg Bank reaffirmed a “buy” rating and set a GBX 900 price target on shares of Bodycote in a report on Thursday, March 12th. Jefferies Financial Group increased their price objective 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. Royal Bank Of Canada cut shares of Bodycote to a “sector perform” rating and set a GBX 775 price objective on the stock. in a research note on Thursday, March 12th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Bodycote from GBX 670 to GBX 700 and gave the stock a “neutral” rating in a research note on Thursday, March 19th. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of GBX 830.

Bodycote Stock Up 19.0%

The company’s 50 day moving average price is GBX 674.31 and its two-hundred day moving average price is GBX 695.46. The company has a current ratio of 1.15, a quick ratio of 0.74 and a debt-to-equity ratio of 29.80. The stock has a market cap of £1.42 billion, a P/E ratio of 26.82, a PEG ratio of 1.44 and a beta of 1.34.

Bodycote (LON:BOY) last issued its quarterly earnings data on Wednesday, March 11th. The company reported GBX 44.40 earnings per share for the quarter. Bodycote had a net margin of 7.55% and a return on equity of 8.58%. Equities analysts forecast that Bodycote plc will post 54.0540541 earnings per share for the current 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.