Ashtead Technology (LON:AT) Issues Earnings Results

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

Ashtead Technology Stock Down 3.6%

LON AT traded down GBX 12.50 during mid-day trading on Wednesday, reaching GBX 333. The stock had a trading volume of 825,652 shares. The company has a fifty day moving average price of GBX 412.58 and a 200 day moving average price of GBX 435.50. The company has a debt-to-equity ratio of 78.29, a current ratio of 2.25 and a quick ratio of 1.46. The stock has a market cap of £264.09 million, a PE ratio of 10.75 and a beta of 0.41. Ashtead Technology has a 1 year low of GBX 426 and a 1 year high of GBX 893.

Wall Street Analysts Forecast Growth

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