Ashtead Technology (LON:AT) Trading 1% Higher – Here’s Why

Ashtead Technology Holdings Plc (LON:AT) shares traded up 1% on Friday . The stock traded as high as GBX 478.80 and last traded at GBX 476. 164,262 shares were traded during mid-day trading, The stock had previously closed at GBX 471.30.

Analysts Set New Price Targets

AT has been the subject of several analyst reports. Stifel Nicolaus restated a “buy” rating and issued a GBX 600 target price on shares of Ashtead Technology in a research note on Thursday, March 19th. Berenberg Bank restated a “buy” rating and issued a GBX 700 target price on shares of Ashtead Technology in a research note on Monday, January 19th. Five research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of GBX 637.

Ashtead Technology Stock Down 2.5%

The company has a current ratio of 2.25, a quick ratio of 1.46 and a debt-to-equity ratio of 78.29. The stock has a 50 day simple moving average of GBX 436.84 and a 200 day simple moving average of GBX 379.80. The firm has a market capitalization of £368.22 million, a PE ratio of 14.99 and a beta of 0.38.

Ashtead Technology (LON:AT) last announced its quarterly earnings results on Tuesday, March 17th. The company reported GBX 49.40 EPS for the quarter. Ashtead Technology had a return on equity of 21.84% and a net margin of 15.85%. As a group, sell-side analysts forecast that Ashtead Technology Holdings Plc will post 42.8247734 earnings per share for the current year.

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.