Ashtead Technology (LON:AT) Trading Down 0.4% – Time to Sell?

Ashtead Technology Holdings Plc (LON:AT) shares fell 0.4% during mid-day trading on Friday . The stock traded as low as GBX 503 ($6.32) and last traded at GBX 517 ($6.50). 229,872 shares traded hands during trading, The stock had previously closed at GBX 519 ($6.52).

Wall Street Analysts Forecast Growth

Several brokerages have commented on AT. Berenberg Bank raised their price objective on Ashtead Technology from GBX 775 ($9.74) to GBX 800 ($10.05) and gave the company a “buy” rating in a research report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft raised shares of Ashtead Technology to a “buy” rating and raised their target price for the company from GBX 835 ($10.49) to GBX 860 ($10.81) in a research note on Tuesday, September 3rd.

Ashtead Technology Stock Performance

The company has a debt-to-equity ratio of 70.83, a quick ratio of 1.46 and a current ratio of 1.82. The stock has a fifty day moving average price of GBX 541.08 and a 200 day moving average price of GBX 672.67. The stock has a market cap of £415.15 million, a PE ratio of 1,723.33 and a beta of 0.28.

Insider Buying and Selling

In other news, insider William(Bill) Mervyn FrewCarey Shannon acquired 13,000 shares of the stock in a transaction on Thursday, November 28th. The shares were purchased at an average cost of GBX 550 ($6.91) per share, for a total transaction of £71,500 ($89,857.99). Insiders own 3.28% of the company’s stock.

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.