Castings (LON:CGS) Share Price Crosses Below 50 Day Moving Average – Time to Sell?

Castings P.L.C. (LON:CGS)’s share price crossed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of GBX 256.22 ($3.41) and traded as low as GBX 250 ($3.33). Castings shares last traded at GBX 257 ($3.42), with a volume of 131,740 shares.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group dropped their price objective on shares of Castings from GBX 340 ($4.52) to GBX 325 ($4.33) and set a “buy” rating for the company in a research note on Tuesday, February 18th.

Castings Trading Up 1.4%

The firm’s 50-day moving average price is GBX 256.22 and its 200 day moving average price is GBX 263.75. The company has a market capitalization of £112.66 million, a price-to-earnings ratio of 6.76 and a beta of 0.60.

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.