Canaccord Genuity Group Has Lowered Expectations for Ashtead Technology (LON:AT) Stock Price

Ashtead Technology (LON:AT – Get Free Report) had its target price cut by research analysts at Canaccord Genuity Group from GBX 600 to GBX 500 in a research report issued on Thursday, Digital Look reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s target price suggests a potential upside of 48.81% from the stock’s previous close.

A number of other equities analysts have also commented on AT. Berenberg Bank cut their price objective on shares of Ashtead Technology from GBX 700 to GBX 650 and set a “buy” rating for the company in a research report on Friday, August 21st. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a GBX 650 price objective on shares of Ashtead Technology in a research note on Wednesday, September 2nd. Finally, Royal Bank Of Canada cut Ashtead Technology to a “sector perform” rating and reduced their target price for the stock from GBX 560 to GBX 400 in a research report on Thursday, September 3rd. Five investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of GBX 587.50.

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Ashtead Technology Trading Down 0.1%

Shares of Ashtead Technology stock opened at GBX 336 on Thursday. The firm has a market cap of £266.47 million, a PE ratio of 10.85 and a beta of 0.41. Ashtead Technology has a 1 year low of GBX 426 and a 1 year high of GBX 893. The company has a debt-to-equity ratio of 73.72, a current ratio of 2.21 and a quick ratio of 1.46. The stock has a fifty day moving average price of GBX 391.28 and a 200-day moving average price of GBX 426.90.

Ashtead Technology (LON:AT – Get Free Report) last posted its quarterly earnings results on Tuesday, September 1st. The company reported GBX 20.60 EPS for the quarter. Ashtead Technology had a net margin of 15.56% and a return on equity of 19.41%. Equities research analysts anticipate that Ashtead Technology will post 42.8247734 EPS for the current year.

About Ashtead Technology

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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.

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