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

Key Points

• Ashtead Group's share price has crossed above its 200-day moving average, with the stock trading at GBX 4,999 ($66.99) after reaching a high of GBX 5,038 ($67.52).
• Brokerages have mixed ratings on Ashtead Group, with two analysts rating it as a Buy, while the majority have issued Hold ratings; the average target price is GBX 5,825.
• The company has a debt-to-equity ratio of 146.30 and a market cap of £21.17 billion, reflecting its position in the construction and equipment rental industry across North America and the UK.

Ashtead Group plc (LON:AHT - Get Free Report)'s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 4,615.96 ($61.86) and traded as high as GBX 5,038 ($67.52). Ashtead Group shares last traded at GBX 4,999 ($66.99), with a volume of 745,211 shares traded.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on AHT. UBS Group reiterated a "neutral" rating and issued a GBX 5,000 target price on shares of Ashtead Group in a research note on Friday, August 15th. Jefferies Financial Group lowered shares of Ashtead Group to a "hold" rating and lowered their price objective for the company from GBX 5,900 to GBX 5,700 in a research report on Thursday, September 11th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Ashtead Group currently has an average rating of "Hold" and a consensus price target of GBX 5,825.

Ashtead Group Price Performance

The company has a debt-to-equity ratio of 146.30, a quick ratio of 1.13 and a current ratio of 1.31. The stock's fifty day moving average price is GBX 5,233.73 and its 200-day moving average price is GBX 4,615.96. The firm has a market cap of £21.17 billion, a PE ratio of 1,445.63, a P/E/G 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.

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