Castings (LON:CGS) Insider Steve Mant Acquires 5,959 Shares

Key Points

• Insider Steve Mant bought 5,959 Castings shares on July 23 at GBX 335 each, for a total of about £19,963.
• Mant had also sold 6,006 shares the day before at GBX 325 each, indicating recent active insider trading in the stock.
• Castings shares were down 2.4% to GBX 328, while Canaccord Genuity raised its price target to GBX 390 and kept a buy rating.

Castings P.L.C. (LON:CGS - Get Free Report) insider Steve Mant acquired 5,959 shares of the stock in a transaction dated Thursday, July 23rd. The shares were purchased at an average cost of GBX 335 per share, with a total value of £19,962.65.

Steve Mant also recently made the following trade(s):

• On Wednesday, July 22nd, Steve Mant sold 6,006 shares of Castings stock. The shares were sold at an average price of GBX 325, for a total value of £19,519.50.

Castings Trading Down 2.4%

Shares of Castings stock traded down GBX 8 during midday trading on Thursday, reaching GBX 328. 42,217 shares of the company's stock traded hands, compared to its average volume of 33,324. The stock has a 50 day moving average of GBX 309.57 and a 200-day moving average of GBX 277.17. Castings P.L.C. has a 12 month low of GBX 202.28 and a 12 month high of GBX 340. The company has a market cap of £142.60 million, a PE ratio of 19.01 and a beta of 0.44. The company has a debt-to-equity ratio of 1.69, a quick ratio of 2.76 and a current ratio of 3.36.

Castings (LON:CGS - Get Free Report) last released its quarterly earnings results on Wednesday, June 17th. The company reported GBX 17.36 earnings per share for the quarter. Castings had a net margin of 4.36% and a return on equity of 5.98%. The business had revenue of £173.23 million for the quarter. As a group, equities analysts expect that Castings P.L.C. will post 17.2492837 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, Canaccord Genuity Group increased their price target on shares of Castings from GBX 335 to GBX 390 and gave the stock a "buy" rating in a research note on Wednesday, June 17th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of GBX 390.

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.

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