Canaccord Genuity Group Lowers Castings (LON:CGS) Price Target to GBX 340

Castings (LON:CGS) had its target price cut by stock analysts at Canaccord Genuity Group from GBX 390 ($5.02) to GBX 340 ($4.38) in a research report issued to clients and investors on Wednesday,Digital Look reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s price target suggests a potential upside of 19.72% from the stock’s previous close.

Castings Trading Up 2.2 %

Shares of CGS stock traded up GBX 6 ($0.08) during trading hours on Wednesday, hitting GBX 284 ($3.65). 23,288 shares of the company were exchanged, compared to its average volume of 30,994. Castings has a 52 week low of GBX 239.83 ($3.09) and a 52 week high of GBX 404 ($5.20). The business has a 50 day moving average of GBX 296.20 and a two-hundred day moving average of GBX 339.72. The company has a market capitalization of £123.43 million, a PE ratio of 773.68 and a beta of 0.60.

Insider Activity

In other news, insider Adam Vicary purchased 3,500 shares of Castings stock in a transaction on Wednesday, September 11th. The stock was purchased at an average price of GBX 300 ($3.86) per share, with a total value of £10,500 ($13,511.77). In other Castings news, insider Adam Vicary purchased 3,500 shares of the stock in a transaction on Wednesday, September 11th. The shares were purchased at an average cost of GBX 300 ($3.86) per share, for a total transaction of £10,500 ($13,511.77). Also, insider Steve Mant acquired 3,307 shares of Castings stock in a transaction dated Monday, September 9th. The shares were acquired at an average price of GBX 301 ($3.87) per share, with a total value of £9,954.07 ($12,809.25). Insiders have bought a total of 10,037 shares of company stock worth $3,040,247 over the last three months. Corporate insiders own 21.35% of the company’s stock.

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.