Ashtead Group (LON:AHT) Reaches New 52-Week Low – What’s Next?

Ashtead Group plc (LON:AHT) shares reached a new 52-week low during trading on Monday . The company traded as low as GBX 4,764 ($60.29) and last traded at GBX 4,804 ($60.79), with a volume of 25646963 shares traded. The stock had previously closed at GBX 4,892 ($61.91).

Analyst Upgrades and Downgrades

AHT has been the subject of several research reports. Berenberg Bank reaffirmed a “buy” rating and set a GBX 7,000 ($88.59) target price on shares of Ashtead Group in a research note on Wednesday, January 22nd. JPMorgan Chase & Co. upped their price target on shares of Ashtead Group from GBX 6,600 ($83.52) to GBX 7,300 ($92.38) and gave the company an “overweight” rating in a report on Friday, December 6th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a GBX 6,800 ($86.05) price objective on shares of Ashtead Group in a research note on Monday, December 16th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of GBX 6,550 ($82.89).

Ashtead Group Stock Performance

The firm has a fifty day moving average price of GBX 5,086.54 and a 200 day moving average price of GBX 5,483.54. The firm has a market capitalization of £26.41 billion, a PE ratio of 17.21, a P/E/G ratio of 1.32 and a beta of 1.22. The company has a debt-to-equity ratio of 146.30, a current ratio of 1.31 and a quick ratio of 1.13.

Ashtead Group Cuts Dividend

The company also recently declared a dividend, which was paid on Friday, February 7th. Stockholders of record on Thursday, January 9th were issued a dividend of $0.36 per share. The ex-dividend date of this dividend was Thursday, January 9th. This represents a dividend yield of 0.45%. Ashtead Group’s dividend payout ratio is currently 28.47%.

Insider Buying and Selling

In other Ashtead Group news, insider Brendan Horgan acquired 4,000 shares of Ashtead Group stock in a transaction that occurred on Wednesday, December 11th. The stock was purchased at an average cost of GBX 5,320 ($67.32) per share, with a total value of £212,800 ($269,298.91). Company insiders own 0.64% of the company’s stock.

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.