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

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) shares passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of GBX 4,558.72 ($61.81) and traded as high as GBX 5,612 ($76.09). Ashtead Group shares last traded at GBX 5,474 ($74.22), with a volume of 837,483 shares traded.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Jefferies Financial Group lowered Ashtead Group to a "hold" rating and cut their target price for the stock from GBX 5,900 to GBX 5,700 in a research note on Thursday. UBS Group reaffirmed a "neutral" rating and issued a GBX 5,000 target price on shares of Ashtead Group in a research note on Friday, August 15th. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of GBX 5,825.

Ashtead Group Stock Performance

The stock has a market cap of £22.62 billion, a PE ratio of 1,544.25, a price-to-earnings-growth ratio of 1.32 and a beta of 1.22. 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 business has a 50 day moving average price of GBX 5,147.27 and a two-hundred day moving average price of GBX 4,569.34.

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.