Bodycote (LON:BOY) Shares Pass Below 200 Day Moving Average – Here’s What Happened

Bodycote plc (LON:BOY)’s stock price passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 717.11 and traded as low as GBX 701.50. Bodycote shares last traded at GBX 716.50, with a volume of 7,255,835 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Royal Bank Of Canada cut Bodycote to a “sector perform” rating and set a GBX 775 target price on the stock. in a research report on Thursday, March 12th. Deutsche Bank Aktiengesellschaft upgraded shares of Bodycote to a “buy” rating and raised their price target for the company from GBX 835 to GBX 960 in a research note on Thursday, May 28th. Berenberg Bank reaffirmed a “buy” rating and set a GBX 900 price target on shares of Bodycote in a report on Thursday, March 12th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Bodycote from GBX 670 to GBX 700 and gave the stock a “neutral” rating in a research report on Thursday, March 19th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Bodycote has an average rating of “Moderate Buy” and a consensus target price of GBX 850.83.

Bodycote Trading Up 0.3%

The company has a quick ratio of 0.74, a current ratio of 1.15 and a debt-to-equity ratio of 29.80. The company has a market cap of £1.22 billion, a P/E ratio of 23.11, a PEG ratio of 1.44 and a beta of 1.34. The firm’s 50 day moving average is GBX 724.05 and its two-hundred day moving average is GBX 717.11.

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.