Castings (LON:CGS) Stock Crosses Below 50-Day Moving Average – Here’s Why

Castings P.L.C. (LON:CGS) shares passed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of GBX 268.77 and traded as low as GBX 251. Castings shares last traded at GBX 256.40, with a volume of 9,441 shares traded.

Analyst Ratings Changes

Separately, Canaccord Genuity Group reiterated a “buy” rating and set a GBX 335 price objective on shares of Castings in a research note on Wednesday, November 12th. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, Castings currently has an average rating of “Buy” and a consensus price target of GBX 335.

Castings Trading Down 2.7%

The firm’s 50 day moving average price is GBX 268.77 and its 200-day moving average price is GBX 263.67. The stock has a market cap of £110.87 million, a P/E ratio of 23.10 and a beta of 0.60. The company has a debt-to-equity ratio of 1.71, a current ratio of 2.77 and a quick ratio of 2.76.

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.