Castings (LON:CGS) Shares Pass Below 200 Day Moving Average – What’s Next?

Castings P.L.C. (LON:CGS) shares crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 269.05 and traded as low as GBX 236. Castings shares last traded at GBX 241.60, with a volume of 9,698 shares.

Analyst Upgrades and Downgrades

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

Castings Stock Performance

The company has a market cap of £105.04 million, a P/E ratio of 25.27 and a beta of 0.60. The business has a 50 day moving average price of GBX 256.01 and a two-hundred day moving average price of GBX 269.16.

Insider Buying and Selling at Castings

In related news, insider Steve Mant acquired 7,875 shares of the company’s stock in a transaction dated Thursday, October 9th. The stock was purchased at an average price of GBX 254 per share, with a total value of £20,002.50. Company insiders own 1.04% of the company’s stock.

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.