Castings (LON:CGS) Share Price Passes Above Fifty Day Moving Average – Here’s Why

Castings P.L.C. (LON:CGS) shares passed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of GBX 290.46 and traded as high as GBX 335. Castings shares last traded at GBX 334, with a volume of 36,955 shares traded.

Analyst Ratings Changes

Separately, Canaccord Genuity Group upped their price objective on Castings from GBX 335 to GBX 390 and gave the stock a “buy” rating in a research note on Wednesday, June 17th. One analyst has rated the stock with a Buy rating, According to MarketBeat, Castings presently has a consensus rating of “Buy” and an average target price of GBX 390.

Castings Stock Performance

The firm has a market cap of £145.21 million, a price-to-earnings ratio of 30.25 and a beta of 0.44. 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 firm has a fifty day simple moving average of GBX 290.46 and a two-hundred day simple moving average of GBX 271.42.

Castings (LON:CGS) last posted its quarterly earnings data on Wednesday, June 17th. The company reported GBX 17.36 earnings per share (EPS) for the quarter. The firm had revenue of £173.23 million for the quarter. Castings had a net margin of 4.36% and a return on equity of 5.98%. On average, analysts expect that Castings P.L.C. will post 17.2492837 EPS for the current 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.