Ashtead Technology (LON:AT) Price Target Raised to GBX 775

Ashtead Technology (LON:AT) had its price objective lifted by Berenberg Bank from GBX 700 ($8.71) to GBX 775 ($9.65) in a research report released on Tuesday morning, MarketBeat Ratings reports. The firm currently has a buy rating on the stock.

Ashtead Technology Price Performance

Shares of LON:AT opened at GBX 735 ($9.15) on Tuesday. The business has a fifty day simple moving average of GBX 726.08 and a 200-day simple moving average of GBX 607.90. Ashtead Technology has a 52 week low of GBX 310 ($3.86) and a 52 week high of GBX 791 ($9.85). The company has a market cap of £587.63 million, a P/E ratio of 3,504.76 and a beta of 0.32. The company has a quick ratio of 1.46, a current ratio of 1.56 and a debt-to-equity ratio of 38.53.

Ashtead Technology Increases Dividend

The company also recently declared a dividend, which will be paid on Monday, June 3rd. Shareholders of record on Thursday, May 2nd will be given a dividend of GBX 1.10 ($0.01) per share. This represents a yield of 0.15%. The ex-dividend date of this dividend is Thursday, May 2nd. This is an increase from Ashtead Technology’s previous dividend of $1.00. Ashtead Technology’s payout ratio is 476.19%.

Insider Activity

In other news, insider William(Bill) Mervyn FrewCarey Shannon acquired 3,015 shares of the stock in a transaction on Tuesday, April 16th. The stock was bought at an average price of GBX 660 ($8.22) per share, with a total value of £19,899 ($24,771.57). Corporate insiders own 2.96% of the company’s stock.

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. It 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; mechanical solutions, consisting of subsea cutting, coating removal and cleaning, subsea dredging, ROV and driver tooling, intervention skids, topside support, recovery tools, pumps, reels, ancillary deck equipment, and fabrication solutions; and asset integrity solutions, including imaging and inspection, oceanographic, marine growth removal, monitoring, mooring and riser inspection, environmental monitoring, offshore construction and life of asset monitoring, offshore wind foundation inspection, analysis, 3D imaging and metrology, and remote operations.