Castings (LON:CGS) Share Price Passes Above 50-Day Moving Average – Here’s Why

Castings P.L.C. (LON:CGS) shares passed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of GBX 266.03 and traded as high as GBX 279. Castings shares last traded at GBX 277, with a volume of 14,530 shares traded.

Analyst Upgrades and Downgrades

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

Castings Trading Up 0.5%

The company has a 50-day moving average price of GBX 266.03 and a two-hundred day moving average price of GBX 270.15. The stock has a market cap of £120.43 million, a P/E ratio of 25.09 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 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 forecast that Castings P.L.C. will post 17.2492837 earnings per share for the current fiscal year.

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.