Ashtead Group (LON:AHT) Issues Quarterly Earnings Results

Ashtead Group (LON:AHT) posted its quarterly earnings data on Tuesday. The company reported GBX 77.20 ($1.00) earnings per share for the quarter, Digital Look Earnings reports. Ashtead Group had a return on equity of 21.43% and a net margin of 14.08%.

Ashtead Group Stock Performance

LON:AHT opened at GBX 4,485 ($57.81) on Thursday. The stock’s 50-day moving average is GBX 5,043.83 and its 200-day moving average is GBX 5,455.24. The stock has a market cap of £24.49 billion, a P/E ratio of 15.96, a price-to-earnings-growth ratio of 1.32 and a beta of 1.22. Ashtead Group has a 1-year low of GBX 4,384.89 ($56.52) and a 1-year high of GBX 6,448 ($83.11). The company has a current ratio of 1.31, a quick ratio of 1.13 and a debt-to-equity ratio of 146.30.

Ashtead Group Cuts Dividend

The company also recently declared a dividend, which was paid on Friday, February 7th. Stockholders of record on Thursday, January 9th were paid a dividend of $0.36 per share. This represents a dividend yield of 0.45%. The ex-dividend date of this dividend was Thursday, January 9th. Ashtead Group’s payout ratio is 28.47%.

Insider Buying and Selling

In related news, insider Brendan Horgan bought 4,000 shares of the stock in a transaction that occurred on Wednesday, December 11th. The stock was acquired at an average cost of GBX 5,320 ($68.57) per share, with a total value of £212,800 ($274,297.50). 0.64% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on AHT. Berenberg Bank reissued a “buy” rating and set a GBX 7,000 ($90.23) price target on shares of Ashtead Group in a research report on Wednesday, January 22nd. Jefferies Financial Group restated a “buy” rating and set a GBX 6,800 ($87.65) price objective on shares of Ashtead Group in a research report on Monday, December 16th. Finally, JPMorgan Chase & Co. boosted their price target on Ashtead Group from GBX 6,600 ($85.07) to GBX 7,300 ($94.10) and gave the stock an “overweight” rating in a report on Friday, December 6th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of GBX 6,550 ($84.43).

Ashtead Group Company Profile

Ashtead Group plc, together with its subsidiaries, engages in the construction, industrial, and general equipment rental business in the United States, the United Kingdom, and Canada. It provides pumps, power generation, heating, cooling, scaffolding, traffic management, temporary flooring, trench shoring, and lifting services.