Castings (LON:CGS) Share Price Crosses Above Fifty Day Moving Average – Should You Sell?

Castings P.L.C. (LON:CGS)’s stock price crossed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of GBX 281.27 and traded as high as GBX 335. Castings shares last traded at GBX 327, with a volume of 65,792 shares traded.

Analysts Set New Price Targets

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 report on Wednesday, June 17th. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of GBX 390.

Castings Stock Performance

The business’s fifty day moving average price is GBX 281.27 and its 200-day moving average price is GBX 268.64. 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 stock has a market capitalization of £142.17 million, a PE ratio of 29.62 and a beta of 0.69.

Castings (LON:CGS) last issued its quarterly earnings data on Wednesday, June 17th. The company reported GBX 17.36 EPS for the quarter. The company had revenue of £173.23 million during the quarter. Castings had a net margin of 4.36% and a return on equity of 5.98%. As a group, equities 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.