Ashtead Group (LON:AHT) Shares Cross Above Two Hundred Day Moving Average - Should You Sell?

Key Points

• Ashtead Group's stock price recently surpassed its 200-day moving average, reaching a high of GBX 5,612 ($75.92) during trading.
• Analysts maintain a consensus rating of "Moderate Buy" with a target price of GBX 6,045, indicating positive future expectations for the shares.
• The company has a market capitalization of £23.18 billion and a high P/E ratio of 1,582.42, suggesting investor confidence despite potential valuation concerns.

Ashtead Group plc (LON:AHT - Get Free Report)'s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 4,558.72 ($62.01) and traded as high as GBX 5,612 ($76.34). Ashtead Group shares last traded at GBX 5,474 ($74.47), with a volume of 837,483 shares traded.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Jefferies Financial Group cut shares of Ashtead Group to a "hold" rating and decreased their price objective for the stock from GBX 5,900 to GBX 5,700 in a report on Thursday. UBS Group reiterated a "neutral" rating and issued a GBX 5,000 price objective on shares of Ashtead Group in a report on Friday, August 15th. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of GBX 5,825.

Ashtead Group Price Performance

The company has a debt-to-equity ratio of 146.30, a current ratio of 1.31 and a quick ratio of 1.13. The stock's fifty day simple moving average is GBX 5,158.89 and its 200-day simple moving average is GBX 4,572.89. The company has a market capitalization of £22.53 billion, a P/E ratio of 1,538.41, a PEG ratio of 1.32 and a beta of 1.22.

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.