Ashtead Group (LON:AHT) Share Price Crosses Above 200 Day Moving Average - Here's Why

Key Points

• Ashtead Group's share price recently crossed above its 200-day moving average, trading as high as GBX 5,168 ($68.84).
• Analysts have mixed views on the stock, with Jefferies Financial Group downgrading it to a "hold" and setting a new price target of GBX 5,700.
• The company's market capitalization stands at £22.24 billion, with a current debt-to-equity ratio of 146.30, indicating significant leverage.

Ashtead Group plc (LON:AHT - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 4,678.25 ($62.32) and traded as high as GBX 5,168 ($68.84). Ashtead Group shares last traded at GBX 5,121.78 ($68.23), with a volume of 1,206,926 shares traded.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on AHT shares. Jefferies Financial Group downgraded shares of Ashtead Group to a "hold" rating and reduced their price objective for the stock from GBX 5,900 to GBX 5,700 in a report on Thursday, September 11th. UBS Group reissued a "neutral" rating and set a GBX 5,000 price target on shares of Ashtead Group in a report on Friday, August 15th. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of GBX 5,825.

Ashtead Group Stock Up 2.4%

The stock has a market capitalization of £22.24 billion, a P/E ratio of 1,544.23, a P/E/G ratio of 1.32 and a beta of 1.22. The firm's fifty day moving average is GBX 5,255.75 and its 200-day moving average is GBX 4,678.25. The company has a current ratio of 1.31, a quick ratio of 1.13 and a debt-to-equity ratio of 146.30.

About Ashtead Group

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.

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