Castings (LON:CGS) Shares Cross Above Fifty Day Moving Average – Here’s What Happened

Castings P.L.C. (LON:CGS) shares crossed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of GBX 266.36 ($3.43) and traded as high as GBX 274 ($3.53). Castings shares last traded at GBX 274 ($3.53), with a volume of 16,375 shares traded.

Wall Street Analysts Forecast Growth

CGS has been the subject of a number of recent research reports. Canaccord Genuity Group cut their price objective on shares of Castings from GBX 340 ($4.38) to GBX 325 ($4.19) and set a “buy” rating for the company in a report on Tuesday, February 18th. Canaccord Genuity Group cut their price target on Castings from GBX 390 ($5.03) to GBX 340 ($4.38) and set a “buy” rating for the company in a report on Wednesday, November 13th.

Castings Trading Up 2.3 %

The firm has a fifty day moving average price of GBX 266.36 and a 200 day moving average price of GBX 281.79. The firm has a market cap of £119.24 million, a PE ratio of 7.16 and a beta of 0.60.

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.