Ashtead Group (LON:AHT) Stock Price Crosses Above 200-Day Moving Average - What's Next?

Key Points

• Ashtead Group shares crossed above their 200-day moving average of GBX 4,519.82, reaching as high as GBX 5,310 during trading.
• Royal Bank Of Canada downgraded Ashtead Group to a "sector perform" rating, lowering the price target from GBX 6,750 to GBX 4,125, while the consensus target price remains at GBX 6,345.
• The company's market capitalization stands at £29.35 billion, with a price-to-earnings ratio of 19.13 and a debt-to-equity ratio of 146.30.

Ashtead Group plc (LON:AHT - Get Free Report) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 4,519.82 ($61.15) and traded as high as GBX 5,310 ($71.84). Ashtead Group shares last traded at GBX 5,302 ($71.74), with a volume of 646,007 shares trading hands.

Analysts Set New Price Targets

Separately, Royal Bank Of Canada cut shares of Ashtead Group to a "sector perform" rating and dropped their price target for the company from GBX 6,750 ($91.33) to GBX 4,125 ($55.81) in a research report on Tuesday, April 29th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of GBX 6,345 ($85.85).

Ashtead Group Trading Up 1.4%

The firm has a market capitalization of £29.35 billion, a price-to-earnings ratio of 19.13, a PEG ratio of 1.32 and a beta of 1.22. The business's 50-day simple moving average is GBX 4,755.56 and its two-hundred day simple moving average is GBX 4,519.82. The company has a quick ratio of 1.13, a current ratio of 1.31 and a debt-to-equity ratio of 146.30.

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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