Ashtead Technology (LON:AT) Issues Quarterly Earnings Results

Ashtead Technology (LON:AT) announced its quarterly earnings data 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 Trading Down 3.6%

AT opened at GBX 333 on Wednesday. The company has a market cap of £264.09 million, a P/E ratio of 10.75 and a beta of 0.41. The company has a current ratio of 2.25, a quick ratio of 1.46 and a debt-to-equity ratio of 78.29. The company’s 50 day moving average is GBX 412.58 and its 200-day moving average is GBX 435.50. Ashtead Technology has a 1-year low of GBX 426 and a 1-year high of GBX 893.

Analysts Set New Price Targets

A number of research analysts recently commented on AT shares. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a GBX 650 price target on shares of Ashtead Technology in a research report on Wednesday. Berenberg Bank reduced 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, 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. Five investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus 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.