Bodycote PLC (LON:BOY) reached a new 52-week low on Thursday . The company traded as low as GBX 673 ($8.79) and last traded at GBX 700 ($9.15), with a volume of 835093 shares trading hands. The stock had previously closed at GBX 732 ($9.56).
A number of research firms recently weighed in on BOY. Berenberg Bank raised their price target on Bodycote from GBX 1,100 ($14.37) to GBX 1,120 ($14.63) and gave the company a “buy” rating in a report on Monday, August 13th. Panmure Gordon cut Bodycote to a “sell” rating and set a GBX 860 ($11.24) price target for the company. in a report on Tuesday, August 21st. Credit Suisse Group reaffirmed an “outperform” rating on shares of Bodycote in a report on Thursday, August 23rd. Jefferies Financial Group reaffirmed a “buy” rating and set a GBX 1,180 ($15.42) price target on shares of Bodycote in a report on Tuesday, September 4th. Finally, HSBC raised Bodycote to a “buy” rating and set a GBX 1,100 ($14.37) price target for the company in a report on Friday, October 5th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of GBX 988.27 ($12.91).
In other news, insider Anne Quinn acquired 10,000 shares of the firm’s stock in a transaction on Thursday, October 11th. The shares were purchased at an average cost of GBX 804 ($10.51) per share, for a total transaction of £80,400 ($105,056.84).
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.
See Also: Cost of Equity For A Business, Investors
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