Ashtead Technology (LON:AT) Trading Up 14.2% – Should You Buy?

Ashtead Technology Holdings Plc (LON:AT)’s stock price shot up 14.2% during mid-day trading on Monday . The company traded as high as GBX 384.50 and last traded at GBX 382.50. 1,683,966 shares were traded during mid-day trading, The stock had previously closed at GBX 335.

Analyst Ratings Changes

Separately, Peel Hunt reissued a “buy” rating and issued a GBX 725 target price on shares of Ashtead Technology in a report on Thursday, November 20th. Four analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of GBX 646.25.

Ashtead Technology Stock Up 14.2%

The company has a quick ratio of 1.46, a current ratio of 1.82 and a debt-to-equity ratio of 70.83. The company has a 50 day simple moving average of GBX 324.97 and a two-hundred day simple moving average of GBX 346.17. The company has a market capitalization of £303.35 million, a P/E ratio of 12.35 and a beta of 0.28.

Insider Buying and Selling at Ashtead Technology

In related news, insider Tony Durrant purchased 30,000 shares of the firm’s stock in a transaction that occurred on Friday, January 2nd. The shares were bought at an average price of GBX 306 per share, for a total transaction of £91,800. Corporate 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.