Ashtead Technology (LON:AT) Cut to Sector perform at Royal Bank Of Canada

Royal Bank Of Canada downgraded shares of Ashtead Technology (LON:AT) to a sector perform rating in a research note published on Thursday,Digital Look reports. Royal Bank Of Canada currently has GBX 400 target price on the stock, down from their prior target price of GBX 560.

A number of other equities research analysts have also weighed in on AT. Berenberg Bank dropped their price objective on shares of Ashtead Technology from GBX 700 to GBX 650 and set a “buy” rating on the stock in a report on Friday, August 21st. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a GBX 650 target price on shares of Ashtead Technology in a research note on Wednesday. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of GBX 605.

Ashtead Technology Stock Up 4.7%

AT stock opened at GBX 354.50 on Thursday. The stock has a market capitalization of £281.14 million, a PE ratio of 11.44 and a beta of 0.41. Ashtead Technology has a 52 week low of GBX 426 and a 52 week high of GBX 893. The company has a quick ratio of 1.46, a current ratio of 2.21 and a debt-to-equity ratio of 73.72. The firm has a 50 day moving average of GBX 405.55 and a 200 day moving average of GBX 433.42.

Ashtead Technology (LON:AT) last issued its quarterly earnings results on Tuesday, September 1st. The company reported GBX 20.60 earnings per share (EPS) for the quarter. Ashtead Technology had a net margin of 15.56% and a return on equity of 19.41%. Sell-side analysts forecast that Ashtead Technology will post 42.8247734 earnings per share for the current year.

Ashtead Technology Company Profile

Ashtead Technology Holdings Plc provides subsea equipment rental solutions for the offshore energy sector in Europe, the Americas, the Asia-Pacific, and the Middle East. The company offers survey and robotics equipment comprising geophysical, hydrographic, metocean, land surveying, positioning, ROV sensors, non-destructive testing, subsea inspection, remote visual inspection, and environmental products. It also provides mechanical solutions, consisting of subsea cutting, coating removal and cleaning, subsea dredging, ROV and diver tooling, intervention skids, topside support, recovery tools, ancillary deck equipment, and fabrication solutions.