Berenberg Bank Reiterates Buy Rating for Ashtead Group (LON:AHT)

Berenberg Bank reaffirmed their buy rating on shares of Ashtead Group (LON:AHTFree Report) in a research note published on Wednesday morning, MarketBeat Ratings reports. Berenberg Bank currently has a GBX 7,000 ($87.40) target price on the stock.

A number of other equities analysts have also commented on AHT. JPMorgan Chase & Co. raised their price objective on Ashtead Group from GBX 6,600 ($82.41) to GBX 7,300 ($91.15) and gave the stock an “overweight” rating in a research note on Friday, December 6th. Jefferies Financial Group reaffirmed a “buy” rating and issued a GBX 6,800 ($84.90) price target on shares of Ashtead Group in a research note on Monday, December 16th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of GBX 6,550 ($81.78).

View Our Latest Stock Analysis on Ashtead Group

Ashtead Group Price Performance

Shares of LON AHT opened at GBX 5,402 ($67.45) on Wednesday. Ashtead Group has a 1-year low of GBX 4,807 ($60.02) and a 1-year high of GBX 6,448 ($80.51). The company has a current ratio of 1.17, a quick ratio of 1.13 and a debt-to-equity ratio of 145.75. The firm has a market cap of £23.59 billion, a P/E ratio of 2,038.49, a price-to-earnings-growth ratio of 1.32 and a beta of 1.22. The business’s 50 day moving average is GBX 5,506.74 and its 200-day moving average is GBX 5,504.81.

Ashtead Group Cuts Dividend

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

Insider Transactions at Ashtead Group

In other news, insider Brendan Horgan bought 4,000 shares of the firm’s stock in a transaction on Wednesday, December 11th. The stock was acquired at an average price of GBX 5,320 ($66.43) per share, with a total value of £212,800 ($265,701.09). 0.64% of the stock is owned by company insiders.

Ashtead Group Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Ashtead Group (LON:AHT)

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