Ashtead Technology (LON:AT) Price Target Raised to GBX 775

Ashtead Technology (LON:AT) had its price objective raised by Berenberg Bank from GBX 700 ($8.71) to GBX 775 ($9.65) in a research report released on Tuesday, MarketBeat reports. The firm currently has a buy rating on the stock.

Ashtead Technology Stock Down 0.1 %

LON:AT opened at GBX 735 ($9.15) on Tuesday. The stock’s fifty day simple moving average is GBX 726.08 and its 200-day simple moving average is GBX 607.90. The firm has a market capitalization of £587.63 million, a P/E ratio of 3,504.76 and a beta of 0.32. The company has a quick ratio of 1.46, a current ratio of 1.56 and a debt-to-equity ratio of 38.53. Ashtead Technology has a 12-month low of GBX 310 ($3.86) and a 12-month high of GBX 791 ($9.85).

Ashtead Technology Increases Dividend

The business also recently announced a dividend, which will be paid on Monday, June 3rd. Investors of record on Thursday, May 2nd will be issued a dividend of GBX 1.10 ($0.01) per share. This represents a yield of 0.15%. The ex-dividend date of this dividend is Thursday, May 2nd. This is a positive change from Ashtead Technology’s previous dividend of $1.00. Ashtead Technology’s dividend payout ratio is presently 476.19%.

Insider Transactions at Ashtead Technology

In related news, insider William(Bill) Mervyn FrewCarey Shannon acquired 3,015 shares of the firm’s stock in a transaction on Tuesday, April 16th. The shares were purchased at an average cost of GBX 660 ($8.22) per share, for a total transaction of £19,899 ($24,771.57). Company insiders own 2.96% of the company’s stock.

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. It 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; mechanical solutions, consisting of subsea cutting, coating removal and cleaning, subsea dredging, ROV and driver tooling, intervention skids, topside support, recovery tools, pumps, reels, ancillary deck equipment, and fabrication solutions; and asset integrity solutions, including imaging and inspection, oceanographic, marine growth removal, monitoring, mooring and riser inspection, environmental monitoring, offshore construction and life of asset monitoring, offshore wind foundation inspection, analysis, 3D imaging and metrology, and remote operations.