Ashtead Group (LON:AHT) Shares Pass Above 200 Day Moving Average - Time to Sell?

Key Points

• Ashtead Group's share price recently crossed above its 200-day moving average, indicating a potential upward trend, closing at GBX 5,434.44 ($73.62) with a trading volume of 438,278 shares.
• UBS Group maintained a "neutral" rating on the stock, setting a price target of GBX 5,000, while the consensus rating among analysts is a "Moderate Buy" with an average target price of GBX 6,120.83.
• The company has a market capitalization of £23.11 billion and a notably high P/E ratio of 1,571.55, hinting at potential valuation concerns.

Ashtead Group plc (LON:AHT - Get Free Report)'s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 4,536.33 ($60.97) and traded as high as GBX 5,474 ($73.58). Ashtead Group shares last traded at GBX 5,434.44 ($73.04), with a volume of 438,278 shares traded.

Analyst Ratings Changes

Separately, UBS Group restated a "neutral" rating and set a GBX 5,000 target price on shares of Ashtead Group in a report on Friday, August 15th. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of GBX 6,120.83.

Ashtead Group Price Performance

The business has a 50-day simple moving average of GBX 5,045.20 and a 200 day simple moving average of GBX 4,548.62. The company has a current ratio of 1.31, a quick ratio of 1.13 and a debt-to-equity ratio of 146.30. The stock has a market cap of £23.22 billion, a P/E ratio of 1,579.06, a price-to-earnings-growth ratio of 1.32 and a beta of 1.22.

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.