Castings (LON:CGS) Shares Pass Above 50 Day Moving Average – Here’s What Happened

by · The Cerbat Gem

Shares of Castings P.L.C. (LON:CGS – Get Free Report) passed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of GBX 255.10 and traded as high as GBX 280. Castings shares last traded at GBX 276.50, with a volume of 73,812 shares trading hands.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group reaffirmed a “buy” rating and set a GBX 335 price target on shares of Castings in a research report on Wednesday, November 12th. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of GBX 335.

Check Out Our Latest Research Report on Castings

Castings Stock Performance

The stock has a market capitalization of £118.69 million, a price-to-earnings ratio of 28.56 and a beta of 0.60. The company has a fifty day simple moving average of GBX 255.18 and a two-hundred day simple moving average of GBX 270.01.

Castings (LON:CGS – Get Free Report) last released its earnings results on Wednesday, November 12th. The company reported GBX 8.58 earnings per share (EPS) for the quarter. Castings had a return on equity of 12.83% and a net margin of 7.45%. As a group, equities analysts anticipate that Castings P.L.C. will post 17.2492837 earnings per share for the current year.

Insider Activity at Castings

In other news, insider Steve Mant bought 7,875 shares of the company’s stock in a transaction dated Thursday, October 9th. The stock was bought at an average cost of GBX 254 per share, for a total transaction of £20,002.50. Insiders own 1.04% of the company’s stock.

About Castings

(Get Free Report)

Castings P.L.C. engages in the iron casting and machining activities. It operates through Foundry Operations and Machining Operations segments. The company offers ductile iron, spheroidal graphite iron, austempered ductile iron, SiMo, and Ni-resist castings. It also provides fertilising solution annealing, pearlitic quench and temper, temper softening, and austempering heat treatment services; automotive standard e-coat and powder coating, galvanising, plating, gas based surface treatment, and plastic and metal spray coating services; and assembly and insulation services.

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