Ashtead Group (LON:AHT) Earns “Buy” Rating from Berenberg Bank

Ashtead Group (LON:AHT)‘s stock had its “buy” rating reissued by research analysts at Berenberg Bank in a report issued on Wednesday,Digital Look reports. They currently have a GBX 7,000 ($86.18) price target on the stock. Berenberg Bank’s price objective indicates a potential upside of 27.78% from the company’s previous close.

A number of other brokerages also recently issued reports on AHT. JPMorgan Chase & Co. increased their target price on Ashtead Group from GBX 6,600 ($81.25) to GBX 7,300 ($89.87) and gave the stock an “overweight” rating in a research note on Friday, December 6th. Jefferies Financial Group reaffirmed a “buy” rating and set a GBX 6,800 ($83.71) price objective on shares of Ashtead Group in a report on Monday, December 16th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of GBX 6,550 ($80.64).

Ashtead Group Stock Up 0.8 %

Shares of LON:AHT opened at GBX 5,478 ($67.44) on Wednesday. The company has a market cap of £23.93 billion, a price-to-earnings ratio of 2,067.17, a PEG ratio of 1.32 and a beta of 1.22. Ashtead Group has a fifty-two week low of GBX 4,807 ($59.18) and a fifty-two week high of GBX 6,448 ($79.38). The firm’s 50-day simple moving average is GBX 5,538.74 and its 200-day simple moving average is GBX 5,502.63. The company has a quick ratio of 1.13, a current ratio of 1.17 and a debt-to-equity ratio of 145.75.

Insider Buying and Selling

In other Ashtead Group news, insider Brendan Horgan purchased 4,000 shares of Ashtead Group stock in a transaction on Wednesday, December 11th. The shares were bought at an average price of GBX 5,320 ($65.49) per share, with a total value of £212,800 ($261,972.18). 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.