Ashtead Technology Holdings Plc (LON:AT) Receives GBX 587.50 Consensus Target Price from Brokerages

Ashtead Technology Holdings Plc (LON:AT) has received an average rating of “Moderate Buy” from the six analysts that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is GBX 587.50.

AT has been the topic of a number of recent analyst reports. Canaccord Genuity Group lowered their target price on shares of Ashtead Technology from GBX 600 to GBX 500 and set a “buy” rating on the stock in a research note on Thursday, September 17th. Berenberg Bank decreased their price target on shares of Ashtead Technology from GBX 700 to GBX 650 and set a “buy” rating on the stock in a report on Friday, August 21st. Royal Bank Of Canada cut shares of Ashtead Technology to a “sector perform” rating and lowered their price objective for the company from GBX 560 to GBX 400 in a research report on Thursday, September 3rd. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a GBX 650 price objective on shares of Ashtead Technology in a report on Wednesday, September 2nd.

Ashtead Technology Trading Up 60.3%

Shares of AT opened at GBX 545 on Thursday. The business’s 50-day moving average price is GBX 387.11 and its 200-day moving average price is GBX 425. Ashtead Technology has a twelve month low of GBX 426 and a twelve month high of GBX 893. The stock has a market cap of £432.22 million, a PE ratio of 17.59 and a beta of 0.41. The company has a quick ratio of 1.46, a current ratio of 2.21 and a debt-to-equity ratio of 73.72.

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

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.