Ashtead Group (LON:AHT) Releases Quarterly Earnings Results

Ashtead Group (LON:AHT) issued its quarterly earnings results on Tuesday. The company reported GBX 77.20 ($1.00) earnings per share for the quarter, Digital Look Earnings reports. Ashtead Group had a return on equity of 21.43% and a net margin of 14.08%.

Ashtead Group Price Performance

LON AHT opened at GBX 4,485 ($57.81) on Thursday. The company has a quick ratio of 1.13, a current ratio of 1.31 and a debt-to-equity ratio of 146.30. The stock has a market capitalization of £24.49 billion, a PE ratio of 15.96, a price-to-earnings-growth ratio of 1.32 and a beta of 1.22. Ashtead Group has a 12-month low of GBX 4,384.89 ($56.52) and a 12-month high of GBX 6,448 ($83.11). The company has a 50 day moving average price of GBX 5,043.83 and a two-hundred day moving average price of GBX 5,455.24.

Ashtead Group Cuts Dividend

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

Analyst Ratings Changes

A number of equities research analysts have commented on AHT shares. Berenberg Bank restated a “buy” rating and set a GBX 7,000 ($90.23) price objective on shares of Ashtead Group in a research report on Wednesday, January 22nd. Jefferies Financial Group restated a “buy” rating and set a GBX 6,800 ($87.65) price target on shares of Ashtead Group in a report on Monday, December 16th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Ashtead Group from GBX 6,600 ($85.07) to GBX 7,300 ($94.10) and gave the company an “overweight” rating in a research note on Friday, December 6th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of GBX 6,550 ($84.43).

Insider Transactions at Ashtead Group

In related news, insider Brendan Horgan acquired 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The shares were acquired at an average cost of GBX 5,320 ($68.57) per share, with a total value of £212,800 ($274,297.50). 0.64% of the stock is currently owned by company insiders.

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.