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

by · The Markets Daily

Shares of Castings P.L.C. (LON:CGS – Get Free Report) passed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of GBX 261.86 ($3.47) and traded as high as GBX 265 ($3.52). Castings shares last traded at GBX 265 ($3.52), with a volume of 4,837 shares changing hands.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group reduced their price target on Castings from GBX 340 ($4.51) to GBX 325 ($4.31) and set a “buy” rating on the stock in a research note on Tuesday, February 18th.

Get Our Latest Stock Report on CGS

Castings Price Performance

The firm has a market capitalization of £113.54 million, a price-to-earnings ratio of 6.81 and a beta of 0.60. The business’s 50-day moving average price is GBX 261.24 and its 200 day moving average price is GBX 270.09.

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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