Castings (LON:CGS) Shares Pass Above 50 Day Moving Average – Time to Sell?

Castings P.L.C. (LON:CGS) shares crossed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of GBX 256.38 and traded as high as GBX 276. Castings shares last traded at GBX 260, with a volume of 51,323 shares trading hands.

Wall Street Analyst Weigh In

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 an average rating of “Buy” and a consensus price target of GBX 335.

Castings Stock Down 4.9%

The company has a market capitalization of £113.04 million, a price-to-earnings ratio of 23.55 and a beta of 0.60. The business has a fifty day simple moving average of GBX 256.38 and a two-hundred day simple moving average of GBX 270.51.

Castings (LON:CGS) last posted its earnings results on Wednesday, November 12th. The company reported GBX 8.58 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 predict that Castings P.L.C. will post 17.2492837 earnings per share for the current fiscal year.

Insider Activity at Castings

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

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.