Canaccord Genuity Group Lowers Ashtead Technology (LON:AT) Price Target to GBX 500

Ashtead Technology (LON:AT) had its target price decreased by equities research analysts at Canaccord Genuity Group from GBX 600 to GBX 500 in a research note issued to investors on Thursday, Digital Look reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s target price points to a potential upside of 52.21% from the company’s current price.

A number of other equities analysts have also recently issued reports on AT. Royal Bank Of Canada cut Ashtead Technology to a “sector perform” rating and dropped their price objective for the company from GBX 560 to GBX 400 in a report on Thursday, September 3rd. Berenberg Bank dropped their price objective on shares of Ashtead Technology from GBX 700 to GBX 650 and set a “buy” rating on the stock in a research note on Friday, August 21st. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a GBX 650 price objective on shares of Ashtead Technology in a report on Wednesday, September 2nd. Five equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of GBX 587.50.

Ashtead Technology Stock Down 3.0%

Shares of LON AT opened at GBX 328.50 on Thursday. Ashtead Technology has a 12-month low of GBX 426 and a 12-month high of GBX 893. The company has a current ratio of 2.21, a quick ratio of 1.46 and a debt-to-equity ratio of 73.72. The firm’s 50-day moving average price is GBX 393.88 and its 200-day moving average price is GBX 428.25. The stock has a market capitalization of £260.52 million, a price-to-earnings ratio of 10.61 and a beta of 0.41.

Ashtead Technology (LON:AT) last announced its earnings results on Tuesday, September 1st. The company reported GBX 20.60 EPS for the quarter. Ashtead Technology had a return on equity of 19.41% and a net margin of 15.56%. On average, equities research analysts anticipate that Ashtead Technology will post 42.8247734 EPS for the current fiscal year.

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. 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.