Castings (LON:CGS) Share Price Passes Above 50-Day Moving Average – What’s Next?

Castings P.L.C. (LON:CGS – Get Free Report)’s share 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 changing hands.

Analyst Ratings Changes

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

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Castings Trading Up 1.2%

The company has a current ratio of 3.36, a quick ratio of 2.76 and a debt-to-equity ratio of 1.69. The stock has a market capitalization of £145.21 million, a PE ratio of 30.25 and a beta of 0.44. The stock has a 50 day moving average price of GBX 284.56 and a 200-day moving average price of GBX 269.59.

Castings (LON:CGS – Get Free Report) last posted 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 return on equity of 5.98% and a net margin of 4.36%. Sell-side analysts expect that Castings P.L.C. will post 17.2492837 earnings per share for the current year.

Castings Company Profile

(Get Free Report)

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.

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