Castings (LON:CGS) Earns “Buy” Rating from Canaccord Genuity Group

Castings (LON:CGS)‘s stock had its “buy” rating reaffirmed by equities researchers at Canaccord Genuity Group in a research note issued to investors on Thursday,London Stock Exchange reports. They presently have a GBX 390 target price on the stock. Canaccord Genuity Group’s price target would indicate a potential upside of 26.72% from the stock’s current price.

Castings Stock Up 2.6%

CGS stock opened at GBX 307.76 on Thursday. The stock has a market capitalization of £133.80 million, a P/E ratio of 17.84 and a beta of 0.43. The company has a current ratio of 3.36, a quick ratio of 2.76 and a debt-to-equity ratio of 1.69. Castings has a 12 month low of GBX 202.28 and a 12 month high of GBX 340. The firm has a 50-day moving average price of GBX 320.48 and a 200-day moving average price of GBX 281.97.

Castings (LON:CGS) last posted its quarterly earnings results on Wednesday, June 17th. The company reported GBX 17.36 earnings per share for the quarter. The company had revenue of £173.23 million for the quarter. Castings had a net margin of 4.36% and a return on equity of 5.98%. As a group, equities research analysts anticipate that Castings will post 17.2492837 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Steve Mant bought 5,959 shares of the business’s stock in a transaction on Thursday, July 23rd. The shares were purchased at an average price of GBX 335 per share, for a total transaction of £19,962.65. 1.09% of the stock is owned by corporate 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.