Ashtead Technology (LON:AT) Issues Earnings Results

Ashtead Technology (LON:AT) announced its quarterly earnings results on Tuesday. The company reported GBX 20.60 earnings per share (EPS) for the quarter, Digital Look Earnings reports. Ashtead Technology had a net margin of 15.85% and a return on equity of 21.84%.

Ashtead Technology Price Performance

AT stock opened at GBX 333 on Wednesday. The company has a quick ratio of 1.46, a current ratio of 2.25 and a debt-to-equity ratio of 78.29. The firm has a market cap of £264.09 million, a price-to-earnings ratio of 10.75 and a beta of 0.41. The company’s fifty day simple moving average is GBX 412.58 and its 200 day simple moving average is GBX 435.50. Ashtead Technology has a 12-month low of GBX 426 and a 12-month high of GBX 893.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on AT. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a GBX 650 price target on shares of Ashtead Technology in a report on Wednesday. Berenberg Bank decreased their price objective on Ashtead Technology from GBX 700 to GBX 650 and set a “buy” rating for the company in a report on Friday, August 21st. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a GBX 560 target price on shares of Ashtead Technology in a report on Thursday, July 16th. Five investment analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of GBX 637.

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.