Bodycote (LON:BOY) Rating Increased to Outperform at Royal Bank of Canada
Bodycote (LON:BOY) was upgraded by stock analysts at Royal Bank of Canada to an “outperform” rating in a research report issued to clients and investors on Thursday, Stock Target Advisor reports. The brokerage currently has a GBX 775 ($10.19) target price on the stock, down from their previous target price of GBX 1,000 ($13.15). Royal Bank of Canada’s target price indicates a potential upside of 61.80% from the stock’s current price.
A number of other brokerages have also recently issued reports on BOY. Berenberg Bank dropped their price objective on shares of Bodycote from GBX 860 ($11.31) to GBX 810 ($10.66) and set a “hold” rating for the company in a research note on Monday, March 9th. JPMorgan Chase & Co. cut shares of Bodycote to an “underweight” rating and increased their price objective for the company from GBX 750 ($9.87) to GBX 775 ($10.19) in a research note on Monday, December 9th. Morgan Stanley cut shares of Bodycote to an “underweight” rating and dropped their price objective for the company from GBX 810 ($10.66) to GBX 770 ($10.13) in a research note on Wednesday, February 19th. UBS Group upgraded shares of Bodycote to a “buy” rating and increased their price objective for the company from GBX 845 ($11.12) to GBX 1,000 ($13.15) in a research note on Tuesday, December 10th. Finally, Barclays dropped their price objective on shares of Bodycote from GBX 910 ($11.97) to GBX 670 ($8.81) and set an “equal weight” rating for the company in a research note on Wednesday. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of GBX 771.79 ($10.15).
Shares of BOY stock traded up GBX 46 ($0.61) during mid-day trading on Thursday, reaching GBX 479 ($6.30). The company’s stock had a trading volume of 664,506 shares, compared to its average volume of 483,340. Bodycote has a 1-year low of GBX 636.50 ($8.37) and a 1-year high of GBX 975 ($12.83). The company has a market cap of $917.07 million and a P/E ratio of 9.14. The company has a debt-to-equity ratio of 17.82, a quick ratio of 0.83 and a current ratio of 0.92. The firm’s 50-day moving average is GBX 760.43 and its two-hundred day moving average is GBX 801.62.
Bodycote plc provides thermal processing services worldwide. The company operates in two business areas, Aerospace, Defence & Energy; and Automotive & General Industrial. It offers heat treatment services, including altering the microstructure of metals and alloys, such as steel and aluminum to impart properties comprising surface hardness, temperature resistance, ductility, and strength; metal joining services consisting of electron beam welding, and vacuum and honeycomb brazing; and Hot isostatic pressing (HIP) services, including HIP product fabrication, isostatic pressing, and HIP supporting services.
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