Castings (LON:CGS) Shares Pass Above Fifty Day Moving Average – Here’s Why

Castings P.L.C. (LON:CGS) shares crossed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of GBX 259.42 and traded as high as GBX 280. Castings shares last traded at GBX 270, with a volume of 15,643 shares traded.

Wall Street Analysts Forecast Growth

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

Castings Price Performance

The company has a fifty day moving average price of GBX 259.75 and a two-hundred day moving average price of GBX 270.54. The firm has a market cap of £117.39 million, a price-to-earnings ratio of 24.46 and a beta of 0.60.

Castings (LON:CGS) last issued its quarterly earnings results on Wednesday, November 12th. The company reported GBX 8.58 EPS for the quarter. Castings had a net margin of 7.45% and a return on equity of 12.83%. On average, research analysts expect that Castings P.L.C. will post 17.2492837 earnings per share for the current fiscal year.

Insider Transactions at Castings

In related news, insider Steve Mant purchased 7,875 shares of the company’s stock in a transaction on Thursday, October 9th. The shares were bought at an average price of GBX 254 per share, with a total value of £20,002.50. Company insiders own 1.04% of the company’s stock.

About Castings

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.