Ashtead Technology (LON:AT) Price Target Cut to GBX 650 by Analysts at Berenberg Bank

Ashtead Technology (LON:AT) had its price objective lowered by stock analysts at Berenberg Bank from GBX 700 to GBX 650 in a research note issued on Friday,London Stock Exchange reports. The firm presently has a “buy” rating on the stock. Berenberg Bank’s price objective would indicate a potential upside of 81.56% from the stock’s current price.

Separately, Royal Bank Of Canada restated an “outperform” rating and set a GBX 560 target price on shares of Ashtead Technology in a research report on Thursday, July 16th. Five research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of GBX 637.

Ashtead Technology Stock Down 16.5%

AT stock opened at GBX 358 on Friday. The company has a market capitalization of £283.92 million, a P/E ratio of 11.56 and a beta of 0.41. Ashtead Technology has a 12 month low of GBX 426 and a 12 month high of GBX 893. The firm’s fifty day simple moving average is GBX 429.28 and its 200-day simple moving average is GBX 439.64. The company has a debt-to-equity ratio of 78.29, a current ratio of 2.25 and a quick ratio of 1.46.

Insider Buying and Selling at Ashtead Technology

In other news, insider Jean Cahuzac acquired 9,500 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The stock was acquired at an average price of GBX 423 per share, for a total transaction of £40,185. Company insiders own 3.28% of the company’s stock.

About Ashtead Technology

Ashtead Technology Holdings Plc provides subsea equipment rental solutions for the offshore energy sector in Europe, the Americas, the Asia-Pacific, and the Middle East. The company offers survey and robotics equipment comprising geophysical, hydrographic, metocean, land surveying, positioning, ROV sensors, non-destructive testing, subsea inspection, remote visual inspection, and environmental products. It also provides mechanical solutions, consisting of subsea cutting, coating removal and cleaning, subsea dredging, ROV and diver tooling, intervention skids, topside support, recovery tools, ancillary deck equipment, and fabrication solutions.