Ashtead Technology (LON:AT) Shares Climb 4.3% – Still a Buy?

Ashtead Technology Holdings Plc (LON:AT – Get Free Report) shares shot up 4.3% during mid-day trading on Thursday. The company traded as high as GBX 560 and last traded at GBX 560. 877,338 shares traded hands during mid-day trading, The stock had previously closed at GBX 537.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on AT. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a GBX 650 target price on shares of Ashtead Technology in a research report on Wednesday, September 2nd. Canaccord Genuity Group cut their price objective on shares of Ashtead Technology from GBX 600 to GBX 500 and set a “buy” rating on the stock in a report on Thursday, September 17th. Berenberg Bank decreased their target price on shares of Ashtead Technology from GBX 700 to GBX 650 and set a “buy” rating for the company in a research note on Friday, August 21st. Finally, Royal Bank Of Canada cut Ashtead Technology to a “sector perform” rating and dropped their price target 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 issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of GBX 587.50.

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Ashtead Technology Stock Down 3.3%

The company has a market cap of £421.91 million, a P/E ratio of 17.17 and a beta of 0.41. The company’s 50-day moving average is GBX 412.61 and its two-hundred day moving average is GBX 436.37. The company has a debt-to-equity ratio of 73.72, a current ratio of 2.21 and a quick ratio of 1.46.

Ashtead Technology (LON:AT – Get Free Report) last issued its earnings results on Tuesday, September 1st. The company reported GBX 20.60 EPS for the quarter. Ashtead Technology had a return on equity of 19.41% and a net margin of 15.56%. As a group, equities analysts predict that Ashtead Technology Holdings Plc will post 42.82 earnings per share for the current fiscal year.

Ashtead Technology Company Profile

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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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