Castings (LON:CGS) Stock Crosses Below Fifty Day Moving Average – Here’s What Happened

Castings P.L.C. (LON:CGS)’s stock price passed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of GBX 258.31 and traded as low as GBX 246. Castings shares last traded at GBX 247, with a volume of 1,738 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group reissued a “buy” rating and issued a GBX 335 price objective on shares of Castings in a research note on Thursday, August 21st. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of GBX 337.50.

Castings Price Performance

The company has a market cap of £107.82 million, a P/E ratio of 25.94 and a beta of 0.60. The firm’s 50 day moving average is GBX 258.31 and its two-hundred day moving average is GBX 269.70.

Insider Transactions at Castings

In other news, insider Steve Mant bought 7,875 shares of the company’s stock in a transaction that occurred on Thursday, October 9th. The shares were acquired at an average price of GBX 254 per share, for a total transaction of £20,002.50. 1.04% of the stock is currently owned by 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.