Castings (LON:CGS) Shares Pass Above 50-Day Moving Average - What's Next?

Castings P.L.C. (LON:CGS - Get Free Report) shares crossed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of GBX 312.96 ($4.09) and traded as high as GBX 314 ($4.10). Castings shares last traded at GBX 305 ($3.98), with a volume of 399 shares trading hands.

Separately, Canaccord Genuity Group cut their target price on Castings from GBX 460 ($6.01) to GBX 390 ($5.09) and set a "buy" rating for the company in a research note on Tuesday, August 20th.

Get Our Latest Report on Castings

The stock has a market cap of £134.73 million, a P/E ratio of 815.79 and a beta of 0.60. The business's fifty day simple moving average is GBX 312.96 and its 200 day simple moving average is GBX 348.28.

In other news, insider Steve Mant bought 3,230 shares of the business's stock in a transaction on Wednesday, August 21st. The shares were bought at an average cost of GBX 308 ($4.02) per share, for a total transaction of £9,948.40 ($12,990.86). In related news, insider Adam Vicary bought 3,500 shares of the stock in a transaction that occurred on Wednesday, September 11th. The shares were acquired at an average price of GBX 300 ($3.92) per share, with a total value of £10,500 ($13,711.15). Also, insider Steve Mant acquired 3,230 shares of the company's stock in a transaction dated Wednesday, August 21st. The shares were bought at an average price of GBX 308 ($4.02) per share, for a total transaction of £9,948.40 ($12,990.86). In the last 90 days, insiders acquired 10,037 shares of company stock worth $3,040,247. Insiders own 21.35% of the company's stock.

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.

Before you consider Castings, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Castings wasn't on the list.

While Castings currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

As the AI market heats up, investors who have a vision for artificial intelligence have the potential to see real returns. Learn about the industry as a whole as well as seven companies that are getting work done with the power of AI.

Are these 3 housing stocks the key to solving America's housing crisis? Dive into this video to find out what the rising home prices mean for investors.

Sign up for MarketBeat All Access to gain access to MarketBeat's full suite of research tools.