Ashtead Group (LON:AHT) Sets New 12-Month High Following Analyst Upgrade

Ashtead Group plc (LON:AHT)’s share price hit a new 52-week high during trading on Monday after JPMorgan Chase & Co. raised their price target on the stock from GBX 6,600 to GBX 7,300. JPMorgan Chase & Co. currently has an overweight rating on the stock. Ashtead Group traded as high as GBX 6,448 ($82.19) and last traded at GBX 6,406 ($81.66), with a volume of 2324822 shares changing hands. The stock had previously closed at GBX 6,400 ($81.58).

A number of other analysts also recently issued reports on AHT. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a GBX 6,500 ($82.86) price objective on shares of Ashtead Group in a research note on Wednesday, September 4th. Berenberg Bank restated a “buy” rating and issued a GBX 7,000 ($89.23) target price on shares of Ashtead Group in a report on Monday, October 14th. Finally, Jefferies Financial Group restated a “buy” rating and set a GBX 6,150 ($78.39) target price on shares of Ashtead Group in a research report on Tuesday, September 3rd. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of GBX 6,441.67 ($82.11).

Insider Buying and Selling

In other Ashtead Group news, insider Lucinda Riches sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of GBX 5,880 ($74.95), for a total value of £58,800 ($74,952.20). 0.64% of the stock is currently owned by company insiders.

Ashtead Group Price Performance

The stock has a 50 day moving average of GBX 6,029.11 and a 200-day moving average of GBX 5,611.93. The company has a debt-to-equity ratio of 145.75, a quick ratio of 1.13 and a current ratio of 1.17. The company has a market cap of £27.39 billion, a PE ratio of 2,366.79, a price-to-earnings-growth ratio of 1.32 and a beta of 1.22.

Ashtead Group Company Profile

Ashtead Group plc, together with its subsidiaries, engages in the construction, industrial, and general equipment rental business in the United States, the United Kingdom, and Canada. It provides pumps, power generation, heating, cooling, scaffolding, traffic management, temporary flooring, trench shoring, and lifting services.