Bodycote (LON:BOY) Shares Cross Above 200 Day Moving Average – Time to Sell?

Bodycote plc (LON:BOY)’s stock price passed above its two hundred day moving average during trading on Thursday. The stock has a two hundred 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.

Wall Street Analysts Forecast Growth

BOY has been the topic of a number of recent research reports. Berenberg Bank lifted their price objective on Bodycote from GBX 900 to GBX 933 and gave the company a “hold” rating in a report on Friday, September 4th. Royal Bank Of Canada increased their target price on Bodycote from GBX 750 to GBX 950 and gave the stock a “sector perform” rating in a report on Thursday, August 6th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a GBX 960 target price on shares of Bodycote in a research report on Thursday, August 6th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a GBX 900 price target on shares of Bodycote in a research note on Wednesday, July 29th. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of GBX 881.33.

Bodycote Stock Down 0.4%

The firm has a market cap of £1.60 billion, a price-to-earnings ratio of 28.17, a PEG ratio of 1.44 and a beta of 1.35. The company has a debt-to-equity ratio of 35.03, a quick ratio of 0.74 and a current ratio of 1.12. The business’s 50-day moving average is GBX 877.41 and its 200-day moving average is GBX 757.92.

Bodycote (LON:BOY) last announced 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, equities analysts predict that Bodycote plc will post 54.0540541 EPS for the current 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.