Ashtead Group (LON:AHT) Stock Price Passes Above 200 Day Moving Average of $4,859.09

Ashtead Group plc (LON:AHT – Get Rating)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 4,859.09 ($59.22) and traded as high as GBX 5,326 ($64.91). Ashtead Group shares last traded at GBX 4,971 ($60.59), with a volume of 1,074,930 shares traded.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on AHT shares. Numis Securities restated a “buy” rating and set a GBX 7,000 ($85.31) price objective on shares of Ashtead Group in a report on Thursday, February 9th. JPMorgan Chase & Co. upped their target price on shares of Ashtead Group from GBX 5,500 ($67.03) to GBX 6,000 ($73.13) and gave the company an “overweight” rating in a research note on Monday, February 13th. Jefferies Financial Group upped their target price on shares of Ashtead Group from GBX 6,000 ($73.13) to GBX 7,000 ($85.31) and gave the company a “buy” rating in a research note on Wednesday, March 8th. Peel Hunt reissued a “buy” rating and issued a GBX 5,200 ($63.38) target price on shares of Ashtead Group in a research note on Tuesday, March 7th. Finally, Barclays upped their target price on shares of Ashtead Group from GBX 5,650 ($68.86) to GBX 6,000 ($73.13) and gave the company an “overweight” rating in a research note on Wednesday, December 7th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Ashtead Group presently has an average rating of “Moderate Buy” and an average price target of GBX 5,783.57 ($70.49).

Ashtead Group Price Performance

The company has a debt-to-equity ratio of 154.56, a current ratio of 1.22 and a quick ratio of 1.13. The stock has a market capitalization of £21.81 billion, a P/E ratio of 1,801.09, a PEG ratio of 1.92 and a beta of 1.49. The company’s 50 day simple moving average is GBX 5,392.38 and its two-hundred day simple moving average is GBX 4,859.09.

Ashtead Group Cuts Dividend

The business also recently announced a dividend, which was paid on Thursday, February 9th. Stockholders of record on Thursday, January 12th were given a dividend of $0.15 per share. The ex-dividend date was Thursday, January 12th. This represents a dividend yield of 0.24%. Ashtead Group’s payout ratio is 2,500.00%.

About Ashtead Group

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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.