Castings (LON:CGS) Stock Crosses Above 50-Day Moving Average – Time to Sell?

Shares of Castings P.L.C. (LON:CGS) crossed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of GBX 266.36 ($3.43) and traded as high as GBX 274 ($3.53). Castings shares last traded at GBX 274 ($3.53), with a volume of 16,375 shares traded.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Canaccord Genuity Group reduced their price target on shares of Castings from GBX 340 ($4.38) to GBX 325 ($4.19) and set a “buy” rating on the stock in a research note on Tuesday, February 18th. Canaccord Genuity Group cut their target price on Castings from GBX 390 ($5.03) to GBX 340 ($4.38) and set a “buy” rating on the stock in a research report on Wednesday, November 13th.

Castings Trading Up 2.3 %

The company has a market capitalization of £119.24 million, a PE ratio of 7.16 and a beta of 0.60. The business has a fifty day moving average of GBX 266.36 and a 200 day moving average of GBX 281.79.

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.