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Bodycote ( (GB:BOY) ) has issued an announcement.
Bodycote plc has announced a continuation of its share buyback program, purchasing 36,188 of its ordinary shares at a volume-weighted average price of 635.87 pence per share. This move, part of an extended program, aims to cancel the repurchased shares, reducing the total number of shares in issue to 175,699,513, thereby potentially increasing shareholder value and consolidating its market position.
The most recent analyst rating on (GB:BOY) stock is a Buy with a £708.00 price target. To see the full list of analyst forecasts on Bodycote stock, see the GB:BOY Stock Forecast page.
Spark’s Take on GB:BOY Stock
According to Spark, TipRanks’ AI Analyst, GB:BOY is a Outperform.
Bodycote’s overall stock score is driven by strong technical indicators and positive corporate events, particularly the share buyback program, which reflects management’s confidence in the company’s future. However, the high P/E ratio suggests potential overvaluation, and financial performance indicates some pressure on profitability and increased leverage, which are areas of concern.
To see Spark’s full report on GB:BOY stock, click here.
More about Bodycote
Bodycote plc operates in the thermal processing industry, providing heat treatment and specialist thermal processing services. The company focuses on enhancing the properties of metals and alloys, serving various sectors including aerospace, automotive, and energy.
Average Trading Volume: 207,511
Technical Sentiment Signal: Strong Buy
Current Market Cap: £1.11B
For a thorough assessment of BOY stock, go to TipRanks’ Stock Analysis page.