Castings (LON:CGS) Shares Pass Above 50-Day Moving Average – Time to Sell?

Castings P.L.C. (LON:CGS) passed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of GBX 259.42 and traded as high as GBX 280. Castings shares last traded at GBX 270, with a volume of 15,643 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group restated a “buy” rating and issued a GBX 335 price target on shares of Castings in a research report on Wednesday, November 12th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of GBX 335.

Castings Stock Performance

The company has a market cap of £117.39 million, a price-to-earnings ratio of 24.46 and a beta of 0.60. The business has a fifty day moving average price of GBX 259.42 and a 200 day moving average price of GBX 270.54.

Castings (LON:CGS) last released its earnings results on Wednesday, November 12th. The company reported GBX 8.58 earnings per share (EPS) for the quarter. Castings had a return on equity of 12.83% and a net margin of 7.45%. As a group, equities analysts anticipate that Castings P.L.C. will post 17.2492837 EPS for the current year.

Insiders Place Their Bets

In related news, insider Steve Mant bought 7,875 shares of the firm’s stock in a transaction on Thursday, October 9th. The shares were purchased at an average price of GBX 254 per share, with a total value of £20,002.50. 1.04% of the stock is owned by corporate insiders.

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.