Ashtead Technology (LON:AT) Trading 2.9% Higher – Here’s Why

Ashtead Technology Holdings Plc (LON:AT)’s share price traded up 2.9% during mid-day trading on Thursday . The stock traded as high as GBX 318 and last traded at GBX 316.50. 753,631 shares changed hands during trading, The stock had previously closed at GBX 307.50.

Analysts Set New Price Targets

A number of research firms recently commented on AT. Peel Hunt reissued a “buy” rating and issued a GBX 725 price target on shares of Ashtead Technology in a research report on Friday, August 1st. Royal Bank Of Canada reiterated an “outperform” rating and issued a GBX 560 target price on shares of Ashtead Technology in a research note on Wednesday, September 3rd. Berenberg Bank reiterated a “buy” rating and issued a GBX 700 target price on shares of Ashtead Technology in a report on Monday, September 8th. Finally, Canaccord Genuity Group dropped their price target on shares of Ashtead Technology from GBX 825 to GBX 600 and set a “buy” rating on the stock in a research report on Friday, July 25th. Four research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of GBX 646.25.

Ashtead Technology Price Performance

The stock has a market cap of £251.01 million, a P/E ratio of 10.22 and a beta of 0.28. The business has a 50 day simple moving average of GBX 344.96 and a 200-day simple moving average of GBX 388.10. The company has a debt-to-equity ratio of 70.83, a quick ratio of 1.46 and a current ratio of 1.82.

Ashtead Technology (LON:AT) last released its earnings results on Tuesday, August 26th. The company reported GBX 21.90 EPS for the quarter. Ashtead Technology had a return on equity of 23.56% and a net margin of 17.37%. On average, sell-side analysts forecast that Ashtead Technology Holdings Plc will post 42.8247734 EPS for the current year.

Insider Activity at Ashtead Technology

In related news, insider Jean Cahuzac bought 8,600 shares of Ashtead Technology stock in a transaction dated Tuesday, August 26th. The stock was purchased at an average cost of GBX 379 per share, with a total value of £32,594. Also, insider Thomas Thomsen purchased 2,910 shares of the firm’s stock in a transaction dated Tuesday, August 26th. The shares were bought at an average price of GBX 369 per share, with a total value of £10,737.90. Insiders have bought 48,476 shares of company stock valued at $18,392,364 in the last three months. Insiders own 3.28% of the company’s stock.

Ashtead Technology Company Profile

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.