Ashtead Technology (LON:AT) Posts Quarterly Earnings Results

Ashtead Technology (LON:AT) issued its quarterly earnings results on Tuesday. The company reported GBX 20.60 earnings per share 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 Trading Down 3.6%

AT opened at GBX 333 on Wednesday. The firm has a market capitalization of £264.09 million, a price-to-earnings ratio of 10.75 and a beta of 0.41. The company’s 50 day moving average price is GBX 412.58 and its two-hundred day moving average price is 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. Ashtead Technology has a fifty-two week low of GBX 426 and a fifty-two week high of GBX 893.

Wall Street Analysts Forecast Growth

AT has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a GBX 650 target price on shares of Ashtead Technology in a research note on Wednesday. Berenberg Bank reduced their price objective on 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 set a GBX 560 target price on shares of Ashtead Technology in a research note on Thursday, July 16th. Five investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus 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.