Ashtead Group (LON:AHT) Reaches New 1-Year Low – Should You Sell?

Ashtead Group plc (LON:AHT) hit a new 52-week low during trading on Wednesday . The stock traded as low as GBX 50.38 ($0.62) and last traded at GBX 5,012 ($61.67), with a volume of 5529324 shares traded. The stock had previously closed at GBX 5,032 ($61.92).

Analyst Upgrades and Downgrades

AHT has been the topic of a number of recent analyst reports. Berenberg Bank reaffirmed a “buy” rating and issued a GBX 7,000 ($86.13) target price on shares of Ashtead Group in a research note on Monday, October 14th. JPMorgan Chase & Co. raised their price objective on shares of Ashtead Group from GBX 6,600 ($81.21) to GBX 7,300 ($89.82) and gave the company an “overweight” rating in a research report on Friday, December 6th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a GBX 6,800 ($83.67) price objective on shares of Ashtead Group in a report on Monday, December 16th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Ashtead Group presently has an average rating of “Moderate Buy” and an average target price of GBX 6,550 ($80.60).

Ashtead Group Price Performance

The firm has a market capitalization of £21.54 billion, a P/E ratio of 1,861.13, a PEG ratio of 1.32 and a beta of 1.22. The business’s 50-day simple moving average is GBX 5,691.66 and its 200 day simple moving average is GBX 5,517.16. The company has a quick ratio of 1.13, a current ratio of 1.17 and a debt-to-equity ratio of 145.75.

Ashtead Group Cuts Dividend

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

Insiders Place Their Bets

In other news, insider Lucinda Riches sold 1,000 shares of the stock in a transaction that occurred on Thursday, October 17th. The stock was sold at an average price of GBX 5,880 ($72.35), for a total transaction of £58,800 ($72,351.42). Also, insider Brendan Horgan purchased 4,000 shares of the business’s stock in a transaction on Wednesday, December 11th. The stock was purchased at an average cost of GBX 5,320 ($65.46) per share, for a total transaction of £212,800 ($261,843.24). 0.64% of the stock is currently owned by 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.