A M Castle and Trading Up 8.1% Following Insider Buying Activity (CAS)
Shares of A M Castle and (NYSE:CAS) were up 8.1% during trading on Wednesday following insider buying activity, Analyst Ratings Network reports. The company traded as high as $10.03 and last traded at $9.75, with a volume of 209,969 shares. The stock had previously closed at $9.02.
Specifically, CEO Scott J. Dolan bought 26,600 shares of A M Castle and stock in a transaction dated Tuesday, August 12th. The shares were purchased at an average price of $9.00 per share, with a total value of $239,400.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this link.
Several analysts have recently commented on the stock. Analysts at Jefferies Group reiterated a “buy” rating on shares of A M Castle and in a research note on Wednesday, July 30th. They now have a $13.00 price target on the stock, down previously from $16.00. Separately, analysts at TheStreet downgraded shares of A M Castle and from a “hold” rating to a “sell” rating in a research note on Thursday, July 10th.
The stock has a 50-day moving average of $10.37 and a 200-day moving average of $12.69. The company’s market cap is $228.6 million.
A M Castle and (NYSE:CAS) last posted its quarterly earnings results on Tuesday, July 29th. The company reported ($0.98) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.44) by $0.54. The company had revenue of $249.50 million for the quarter, compared to the consensus estimate of $254.70 million. During the same quarter in the prior year, the company posted $0.02 earnings per share. The company’s quarterly revenue was down 8.7% on a year-over-year basis. Analysts expect that A M Castle and will post $-2.16 EPS for the current fiscal year.
A. M. CASTLE & CO is a specialty metals and plastics distribution company serving customers on a global basis.
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