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

Castings P.L.C. (LON:CGS)’s stock price passed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of GBX 255.10 and traded as high as GBX 280. Castings shares last traded at GBX 276.50, with a volume of 73,812 shares trading hands.

Wall Street Analysts Forecast Growth

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

Castings Stock Down 0.5%

The stock has a market cap of £120.21 million, a PE ratio of 28.92 and a beta of 0.60. The company’s fifty day moving average is GBX 255.10 and its 200 day moving average is GBX 269.84.

Castings (LON:CGS) last released its quarterly earnings data on Wednesday, November 12th. The company reported GBX 8.58 earnings per share (EPS) for the quarter. Castings had a net margin of 7.45% and a return on equity of 12.83%. Equities analysts expect that Castings P.L.C. will post 17.2492837 EPS for the current year.

Insider Transactions at Castings

In related news, insider Steve Mant purchased 7,875 shares of the stock in a transaction that occurred on Thursday, October 9th. The stock was purchased at an average cost of GBX 254 per share, for a total transaction of £20,002.50. Corporate insiders own 1.04% of the company’s stock.

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.