Castings (LON:CGS) Stock Passes Above Fifty Day Moving Average – Time to Sell?

Castings P.L.C. (LON:CGS) crossed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of GBX 255.69 ($3.43) and traded as high as GBX 270 ($3.62). Castings shares last traded at GBX 258.50 ($3.47), with a volume of 15,121 shares traded.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group reduced their price objective on Castings from GBX 340 ($4.56) to GBX 325 ($4.36) and set a “buy” rating on the stock in a research note on Tuesday, February 18th.

Castings Stock Up 1.7%

The company has a 50 day simple moving average of GBX 255.69 and a two-hundred day simple moving average of GBX 263.12. The company has a market capitalization of £116.41 million, a P/E ratio of 6.99 and a beta of 0.60.

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.