Bodycote (LON:BOY) Receives “Buy” Rating from Berenberg Bank

Berenberg Bank reaffirmed their buy rating on shares of Bodycote (LON:BOY) in a report published on Monday, MarketBeat Ratings reports. The brokerage currently has a GBX 800 ($10.34) price objective on the stock.

Bodycote Stock Up 0.4 %

BOY traded up GBX 2 ($0.03) on Monday, reaching GBX 569 ($7.35). 7,701,932 shares of the company traded hands, compared to its average volume of 692,867. The stock’s 50 day moving average price is GBX 636.41 and its 200-day moving average price is GBX 617.73. The company has a debt-to-equity ratio of 20.84, a current ratio of 0.81 and a quick ratio of 0.74. Bodycote has a 52-week low of GBX 520 ($6.72) and a 52-week high of GBX 774 ($10.00). The company has a market cap of £1.02 billion, a price-to-earnings ratio of 17.12, a PEG ratio of 1.44 and a beta of 1.18.

Bodycote Increases Dividend

The firm also recently announced a dividend, which will be paid on Thursday, June 5th. Shareholders of record on Thursday, April 24th will be paid a GBX 16.10 ($0.21) dividend. The ex-dividend date of this dividend is Thursday, April 24th. This is a boost from Bodycote’s previous dividend of $6.90. This represents a yield of 2.8%. Bodycote’s payout ratio is 69.21%.

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.