Castings (LON:CGS) Share Price Crosses Above 50 Day Moving Average – Here’s What Happened

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.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group restated a “buy” rating and set a GBX 335 price objective on shares of Castings in a research report on Wednesday, November 12th. One analyst has rated the stock with a Buy rating, According to MarketBeat, Castings has a consensus rating of “Buy” and a consensus target price of GBX 335.

Castings Stock Performance

The firm has a market capitalization of £120.43 million, a PE ratio of 25.09 and a beta of 0.60. The business’s fifty day simple moving average is GBX 266.03 and its 200-day simple moving average is GBX 270.05.

Castings (LON:CGS) last released its earnings results on Wednesday, November 12th. The company reported GBX 8.58 EPS for the quarter. Castings had a net margin of 7.45% and a return on equity of 12.83%. Sell-side analysts expect 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.