Castings (LON:CGS) Stock Price Passes Above 50-Day Moving Average – Here’s What Happened

Castings P.L.C. (LON:CGS)’s share price crossed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of GBX 281.27 and traded as high as GBX 335. Castings shares last traded at GBX 327, with a volume of 65,792 shares.

Analyst Ratings Changes

Separately, Canaccord Genuity Group raised their price target on Castings from GBX 335 to GBX 390 and gave the company a “buy” rating in a report on Wednesday, June 17th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of GBX 390.

Castings Stock Performance

The stock’s 50 day simple moving average is GBX 281.27 and its 200 day simple moving average is GBX 268.64. The firm has a market cap of £142.17 million, a PE ratio of 29.62 and a beta of 0.69. The company has a debt-to-equity ratio of 1.69, a quick ratio of 2.76 and a current ratio of 3.36.

Castings (LON:CGS) last posted its quarterly earnings data on Wednesday, June 17th. The company reported GBX 17.36 earnings per share for the quarter. Castings had a net margin of 4.36% and a return on equity of 5.98%. The firm had revenue of £173.23 million for the quarter. On average, sell-side analysts forecast that Castings P.L.C. will post 17.2492837 earnings per share for the current fiscal year.

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.