Canaccord Genuity Group Lowers Castings (LON:CGS) Price Target to GBX 390

Castings (LON:CGS) had its price target reduced by Canaccord Genuity Group from GBX 460 ($5.98) to GBX 390 ($5.07) in a research note issued to investors on Tuesday, Marketbeat reports. They currently have a buy rating on the stock.

Castings Trading Up 0.6 %

LON:CGS opened at GBX 314 ($4.08) on Tuesday. The company has a market cap of £136.46 million, a P/E ratio of 826.32 and a beta of 0.63. Castings has a twelve month low of GBX 286 ($3.72) and a twelve month high of GBX 404 ($5.25). The company’s 50-day moving average price is GBX 356.82 and its 200-day moving average price is GBX 358.63.

Castings Increases Dividend

The business also recently declared a dividend, which was paid on Friday, August 23rd. Stockholders of record on Thursday, July 18th were given a GBX 14.19 ($0.18) dividend. The ex-dividend date was Thursday, July 18th. This is a positive change from Castings’s previous dividend of $4.13. This represents a dividend yield of 3.84%. Castings’s dividend payout ratio is 4,736.84%.

Insider Buying and Selling

In other news, insider Steve Mant purchased 3,230 shares of the stock in a transaction dated Wednesday, August 21st. The shares were purchased at an average price of GBX 308 ($4.00) per share, with a total value of £9,948.40 ($12,926.72). 21.34% of the stock is currently owned by company insiders.

Castings Company Profile

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.