Ashtead Group plc (LON:AHT) Given Average Recommendation of “Moderate Buy” by Analysts

Ashtead Group plc (LON:AHT) has earned an average rating of “Moderate Buy” from the six ratings firms that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is GBX 6,550 ($82.11).

Several equities analysts have issued reports on the stock. Berenberg Bank restated a “buy” rating and set a GBX 7,000 ($87.75) target price on shares of Ashtead Group in a research note on Monday, October 14th. JPMorgan Chase & Co. raised their target price on shares of Ashtead Group from GBX 6,600 ($82.74) to GBX 7,300 ($91.51) and gave the stock an “overweight” rating in a report on Friday, December 6th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a GBX 6,500 ($81.48) target price on shares of Ashtead Group in a research note on Wednesday, September 4th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a GBX 6,800 ($85.25) price objective on shares of Ashtead Group in a report on Monday, December 16th.

Insider Activity at Ashtead Group

In other Ashtead Group news, insider Lucinda Riches sold 1,000 shares of Ashtead Group stock in a transaction on Thursday, October 17th. The shares were sold at an average price of GBX 5,880 ($73.71), for a total value of £58,800 ($73,711.92). Also, insider Brendan Horgan bought 4,000 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The shares were acquired at an average price of GBX 5,320 ($66.69) per share, for a total transaction of £212,800 ($266,766.95). 0.64% of the stock is owned by corporate insiders.

Ashtead Group Stock Performance

Shares of Ashtead Group stock opened at GBX 4,948 ($62.03) on Wednesday. The stock has a market cap of £21.61 billion, a price-to-earnings ratio of 1,867.17, a PEG ratio of 1.32 and a beta of 1.22. The company has a debt-to-equity ratio of 145.75, a current ratio of 1.17 and a quick ratio of 1.13. Ashtead Group has a 1 year low of GBX 4,711 ($59.06) and a 1 year high of GBX 6,448 ($80.83). The firm’s 50-day moving average is GBX 5,903.10 and its 200 day moving average is GBX 5,569.80.

Ashtead Group Cuts Dividend

The company also recently disclosed a dividend, which will be paid on Friday, February 7th. Stockholders of record on Thursday, January 9th will be given a dividend of $0.36 per share. The ex-dividend date is Thursday, January 9th. This represents a dividend yield of 0.45%. Ashtead Group’s payout ratio is 3,018.87%.

About Ashtead Group

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.