JPMorgan Chase & Co. Cuts Bodycote (LON:BOY) Price Target to GBX 750

Bodycote (LON:BOY) had its target price cut by JPMorgan Chase & Co. from GBX 760 ($9.78) to GBX 750 ($9.65) in a report published on Thursday morning, MarketBeat reports. They currently have a neutral rating on the stock.

Several other research firms have also commented on BOY. Royal Bank of Canada reiterated a sector perform rating and set a GBX 720 ($9.26) price objective on shares of Bodycote in a research note on Wednesday, July 31st. Jefferies Financial Group restated a buy rating and set a GBX 980 ($12.61) price objective on shares of Bodycote in a report on Friday, July 12th.

Bodycote Price Performance

BOY opened at GBX 642 ($8.26) on Thursday. The firm has a market capitalization of £1.20 billion, a PE ratio of 1,426.67, a price-to-earnings-growth ratio of 1.44 and a beta of 1.19. The company has a debt-to-equity ratio of 12.23, a current ratio of 1.05 and a quick ratio of 0.74. The business’s 50-day moving average is GBX 712.58 and its two-hundred day moving average is GBX 684.10. Bodycote has a 1 year low of GBX 545 ($7.01) and a 1 year high of GBX 774 ($9.96).

Bodycote Cuts Dividend

The company also recently disclosed a dividend, which will be paid on Thursday, November 7th. Stockholders of record on Thursday, October 3rd will be issued a GBX 6.90 ($0.09) dividend. This represents a dividend yield of 0.97%. The ex-dividend date of this dividend is Thursday, October 3rd. Bodycote’s dividend payout ratio is presently 5,111.11%.

About Bodycote

Bodycote plc provides heat treatment and thermal processing services worldwide. It operates in two Aerospace, Defence & Energy; and Automotive & General Industrial segments. 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 vacuum and honeycomb 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.