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

Shares of Castings P.L.C. (LON:CGS) crossed 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.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group reiterated a “buy” rating and issued a GBX 335 target price on shares of Castings in a research note on Wednesday, November 12th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of GBX 335.

Castings Trading Up 0.5%

The firm has a market capitalization of £120.43 million, a P/E ratio of 25.09 and a beta of 0.60. The stock has a 50-day simple moving average of GBX 266.03 and a two-hundred day simple moving average of GBX 270.15.

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