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

Castings P.L.C. (LON:CGS) shares passed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of GBX 306.27 and traded as high as GBX 339. Castings shares last traded at GBX 330, with a volume of 77,139 shares traded.

Wall Street Analyst Weigh In

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

Castings Stock Up 2.4%

The stock has a 50-day moving average price of GBX 306.27 and a 200-day moving average price of GBX 276.25. The company has a debt-to-equity ratio of 1.69, a current ratio of 3.36 and a quick ratio of 2.76. The company has a market capitalization of £146.95 million, a P/E ratio of 19.59 and a beta of 0.44.

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