Castings (LON:CGS) Trading Down 11.4% – Should You Sell?

Castings P.L.C. (LON:CGS) was down 11.4% during trading on Tuesday . The stock traded as low as GBX 224 ($2.83) and last traded at GBX 255.15 ($3.22). Approximately 201,833 shares changed hands during trading, an increase of 112% from the average daily volume of 95,031 shares. The stock had previously closed at GBX 288 ($3.63).

Analysts Set New Price Targets

Separately, Canaccord Genuity Group cut their price target on shares of Castings from GBX 390 ($4.92) to GBX 340 ($4.29) and set a “buy” rating for the company in a report on Wednesday, November 13th.

Castings Stock Performance

The stock’s 50-day moving average price is GBX 267.40 and its 200-day moving average price is GBX 288.73. The company has a market capitalization of £111.85 million, a price-to-earnings ratio of 6.71 and a beta of 0.60.

Castings Company Profile

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.