Canaccord Genuity Group Reiterates "Buy" Rating for Castings (LON:CGS)

Key Points

• Canaccord Genuity Group has reaffirmed a buy rating for Castings (CGS) with a price target of GBX 335, suggesting a potential upside of 29.19% from the current price.
• Castings' stock recently traded down by 5.0%, with a current price of GBX 259.31 and a market capitalization of £113.67 million.
• The company reported a quarterly earnings per share of GBX 9.60 and has a projected earnings per share of 17.25 for the current year, reflecting its financial performance and growth expectations.

Castings (LON:CGS - Get Free Report)'s stock had its "buy" rating reaffirmed by equities researchers at Canaccord Genuity Group in a research note issued to investors on Thursday, Marketbeat reports. They currently have a GBX 335 price objective on the stock. Canaccord Genuity Group's price objective would indicate a potential upside of 31.89% from the company's current price.

Castings Stock Down 2.7%

Shares of CGS stock traded down GBX 7 on Thursday, reaching GBX 254. The company's stock had a trading volume of 10,496 shares, compared to its average volume of 50,878. The stock's 50 day simple moving average is GBX 287.33 and its 200-day simple moving average is GBX 271.06. Castings has a 12-month low of GBX 224 and a 12-month high of GBX 332. The company has a market capitalization of £111.35 million, a P/E ratio of 6.68 and a beta of 0.60.

Castings (LON:CGS - Get Free Report) last released its quarterly earnings results on Wednesday, June 11th. The company reported GBX 9.60 earnings per share for the quarter. Castings had a return on equity of 12.83% and a net margin of 7.45%. Research analysts expect that Castings will post 17.2492837 EPS for the current year.

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.