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

Castings P.L.C. (LON:CGS)’s stock price crossed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of GBX 290.46 and traded as high as GBX 335. Castings shares last traded at GBX 334, with a volume of 36,955 shares traded.

Analysts Set New Price Targets

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

Castings Trading Down 1.2%

The company has a quick ratio of 2.76, a current ratio of 3.36 and a debt-to-equity ratio of 1.69. The company has a market capitalization of £143.47 million, a P/E ratio of 29.89 and a beta of 0.44. The firm’s 50-day moving average price is GBX 291.78 and its 200 day moving average price is GBX 271.83.

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

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.