Castings (LON:CGS) Share Price Crosses Below 50-Day Moving Average – Here’s What Happened

Castings P.L.C. (LON:CGS)’s share price crossed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of GBX 274.51 ($3.69) and traded as low as GBX 253 ($3.40). Castings shares last traded at GBX 253 ($3.40), with a volume of 11,597 shares traded.

Analyst Ratings Changes

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

Castings Stock Performance

The company has a market capitalization of £116.03 million, a price-to-earnings ratio of 2,792.89 and a beta of 0.60. The company’s fifty day simple moving average is GBX 274.51 and its two-hundred day simple moving average is GBX 270.18.

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.