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

Castings P.L.C. (LON:CGS)’s share price passed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of GBX 265.79 ($3.35) and traded as high as GBX 289 ($3.64). Castings shares last traded at GBX 286.50 ($3.61), with a volume of 59,043 shares traded.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group decreased their price target on shares of Castings from GBX 390 ($4.91) to GBX 340 ($4.28) and set a “buy” rating for the company in a research note on Wednesday, November 13th.

Castings Trading Up 1.1 %

The firm has a market capitalization of £126.25 million, a P/E ratio of 7.58 and a beta of 0.60. The business’s 50 day simple moving average is GBX 266.88 and its two-hundred day simple moving average is GBX 289.29.

Castings (LON:CGS) last released its quarterly earnings data on Wednesday, November 13th. The company reported GBX 7.07 ($0.09) earnings per share for the quarter. Castings had a net margin of 7.45% and a return on equity of 12.83%. Analysts predict that Castings P.L.C. will post 17.2492837 EPS for the current fiscal 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.