Ashtead Group (LON:AHT) Shares Pass Above Two Hundred Day Moving Average - Here's What Happened

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)'s stock price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 4,530.38 ($60.52) and traded as high as GBX 5,100.97 ($68.14). Ashtead Group shares last traded at GBX 5,026 ($67.14), with a volume of 534,490 shares trading hands.

Wall Street Analyst Weigh In

Separately, Royal Bank Of Canada cut Ashtead Group to a "sector perform" rating and decreased their price target for the company from GBX 6,750 ($90.17) to GBX 4,125 ($55.10) in a research note on Tuesday, April 29th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Ashtead Group currently has a consensus rating of "Moderate Buy" and a consensus target price of GBX 6,345 ($84.76).

Ashtead Group Stock Performance

The stock has a market capitalization of £27.44 billion, a price-to-earnings ratio of 17.89, a P/E/G ratio of 1.32 and a beta of 1.22. 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 firm has a 50-day moving average of GBX 4,651.54 and a 200-day moving average of GBX 4,530.38.

Ashtead Group Company Profile

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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