Ashtead Group (LON:AHT) Stock Crosses Above Two Hundred Day Moving Average - Here's Why

Key Points

• Ashtead Group's stock price has recently surpassed its 200-day moving average, trading as high as GBX 5,100.97 ($68.14) and closing at GBX 5,026 ($67.14).
• The Royal Bank of Canada downgraded Ashtead Group to a "sector perform" rating, lowering its price target from GBX 6,750 ($90.17) to GBX 4,125 ($55.10).
• Currently, Ashtead Group maintains a consensus rating of "Moderate Buy" among analysts, with a target price of GBX 6,345 ($84.76).

Ashtead Group plc (LON:AHT - Get Free Report) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 4,530.38 ($60.91) and traded as high as GBX 5,100.97 ($68.58). Ashtead Group shares last traded at GBX 5,026 ($67.57), with a volume of 534,490 shares.

Wall Street Analyst Weigh In

Separately, Royal Bank Of Canada downgraded shares of Ashtead Group to a "sector perform" rating and dropped their price target for the stock from GBX 6,750 ($90.75) to GBX 4,125 ($55.46) in a research note on Tuesday, April 29th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of GBX 6,345 ($85.31).

Ashtead Group Trading Down 1.1%

The company's fifty day simple moving average is GBX 4,680.36 and its two-hundred day simple moving average is GBX 4,512.68. The company has a quick ratio of 1.13, a current ratio of 1.31 and a debt-to-equity ratio of 146.30. The company has a market capitalization of £27.32 billion, a price-to-earnings ratio of 17.81, 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.