Castings (LON:CGS) Posts Earnings Results

Castings (LON:CGS) released its quarterly earnings data on Wednesday. The company reported GBX 8.58 earnings per share for the quarter, Digital Look Earnings reports. Castings had a net margin of 7.45% and a return on equity of 12.83%.

Castings Price Performance

LON:CGS opened at GBX 248 on Thursday. The company has a 50 day moving average price of GBX 254.51 and a 200-day moving average price of GBX 268.88. Castings has a 1-year low of GBX 224 and a 1-year high of GBX 332. The firm has a market cap of £107.82 million, a price-to-earnings ratio of 25.94 and a beta of 0.60.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group reaffirmed a “buy” rating and issued a GBX 335 price target on shares of Castings in a report on Wednesday. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Castings presently has a consensus rating of “Buy” and a consensus target price of GBX 335.

Insider Buying and Selling

In other news, insider Steve Mant purchased 7,875 shares of the company’s stock in a transaction that occurred on Thursday, October 9th. The shares were bought 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.

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.