Bodycote (LON:BOY) Sets New 12-Month Low – Here’s What Happened

Bodycote plc (LON:BOY) reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as GBX 544 ($7.06) and last traded at GBX 545 ($7.08), with a volume of 156856 shares. The stock had previously closed at GBX 550 ($7.14).

Analyst Ratings Changes

BOY has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. lowered their price objective on Bodycote from GBX 760 ($9.87) to GBX 750 ($9.74) and set a “neutral” rating for the company in a research report on Thursday, August 1st. Jefferies Financial Group reiterated a “buy” rating and set a GBX 980 ($12.72) price target on shares of Bodycote in a research note on Friday, July 12th. Berenberg Bank initiated coverage on Bodycote in a report on Friday, August 30th. They set a “buy” rating and a GBX 800 ($10.39) target price for the company. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a GBX 720 ($9.35) price target on shares of Bodycote in a report on Wednesday, July 31st.

Bodycote Price Performance

The firm has a 50-day simple moving average of GBX 613.79 and a two-hundred day simple moving average of GBX 674.47. The company has a market capitalization of £1.01 billion, a price-to-earnings ratio of 1,660.61, a P/E/G ratio of 1.44 and a beta of 1.18. The company has a current ratio of 0.81, a quick ratio of 0.74 and a debt-to-equity ratio of 20.80.

Bodycote Cuts Dividend

The business also recently declared a dividend, which will be paid on Thursday, November 7th. Shareholders of record on Thursday, October 3rd will be issued a GBX 6.90 ($0.09) dividend. This represents a yield of 0.97%. The ex-dividend date is Thursday, October 3rd. Bodycote’s payout ratio is presently 6,969.70%.

Bodycote Company Profile

Bodycote plc provides heat treatment and thermal processing services worldwide. It operates in two business areas, Aerospace, Defence & Energy; and Automotive & General Industrial. The company 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, HIP diffusion bonding, hydrogen brazing, induction brazing, and furnace/vacuum brazing; and hot isostatic pressing (HIP) services, including isostatic pressing and HIP supporting services, as well as Powdermet technology, a manufacturing process used in the production of complex components using powder metallurgy.