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

Castings (LON:CGS) had its price target upped by Canaccord Genuity Group from GBX 335 to GBX 390 in a report issued on Wednesday,Digital Look reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective would suggest a potential upside of 21.88% from the stock’s current price.

Castings Trading Down 1.8%

LON:CGS opened at GBX 320 on Wednesday. Castings has a 12 month low of GBX 202.28 and a 12 month high of GBX 333. The firm has a market cap of £139.13 million, a price-to-earnings ratio of 28.99 and a beta of 0.43. The company has a quick ratio of 2.76, a current ratio of 2.77 and a debt-to-equity ratio of 1.71. The company’s 50 day moving average is GBX 270.22 and its 200-day moving average is GBX 266.32.

Insider Transactions at Castings

In related news, insider Adam Vicary bought 5,000 shares of the company’s stock in a transaction that occurred on Monday, March 23rd. The shares were acquired at an average price of GBX 220 per share, with a total value of £11,000. Company insiders own 1.05% 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.