Castings (LON:CGS) Stock Rating Reaffirmed as Buy by Canaccord Genuity Group

Castings (LON:CGS)‘s stock had its “buy” rating reissued by Canaccord Genuity Group in a research note issued on Monday, London Stock Exchange reports. They currently have a GBX 390 price objective on the stock. Canaccord Genuity Group‘s target price indicates a potential upside of 39.78% from the company’s previous close.

Castings Trading Up 0.7%

Shares of CGS traded up GBX 2 during mid-day trading on Monday, hitting GBX 279. The company had a trading volume of 138,247 shares, compared to its average volume of 37,662. The stock has a market cap of £121.30 million, a PE ratio of 16.17 and a beta of 0.44. The business’s 50-day simple moving average is GBX 291.34 and its 200-day simple moving average is GBX 293.28. Castings has a 1-year low of GBX 202.28 and a 1-year high of GBX 340. The company has a quick ratio of 2.76, a current ratio of 3.36 and a debt-to-equity ratio of 1.69.

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.