Castings’ (CGS) Buy Rating Reiterated at Canaccord Genuity Group

Canaccord Genuity Group reissued their buy rating on shares of Castings (LON:CGS) in a research note released on Thursday morning, MarketBeat reports. Canaccord Genuity Group currently has a GBX 390 price objective on the stock.

Castings Trading Down 1.7%

CGS opened at GBX 306.84 on Thursday. The firm has a market cap of £133.40 million, a price-to-earnings ratio of 17.79 and a beta of 0.43. The company has a current ratio of 3.36, a quick ratio of 2.76 and a debt-to-equity ratio of 1.69. The stock has a fifty day moving average price of GBX 320.10 and a 200-day moving average price of GBX 282.39. Castings has a 12 month low of GBX 202.28 and a 12 month high of GBX 340.

Castings (LON:CGS) last released its quarterly earnings data on Wednesday, June 17th. The company reported GBX 17.36 earnings per share for the quarter. Castings had a return on equity of 5.98% and a net margin of 4.36%.The business had revenue of £173.23 million for the quarter. As a group, equities research analysts anticipate that Castings will post 17.2492837 earnings per share for the current fiscal year.

Insider Buying and Selling at Castings

In other news, insider Steve Mant sold 6,006 shares of the company’s stock in a transaction that occurred on Wednesday, July 22nd. The shares were sold at an average price of GBX 325, for a total value of £19,519.50. 1.09% of the stock is owned by company insiders.

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.