Ashtead Group (LON:AHT) Stock Price Crosses Above 200 Day Moving Average - Here's Why

Ashtead Group plc (LON:AHT - Get Free Report)'s share price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of GBX 4,527.54 ($61.16) and traded as high as GBX 4,860 ($65.65). Ashtead Group shares last traded at GBX 4,827.28 ($65.21), with a volume of 508,236 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Royal Bank Of Canada lowered shares of Ashtead Group to a "sector perform" rating and decreased their price target for the company from GBX 6,750 ($91.18) to GBX 4,125 ($55.72) in a research note on Tuesday, April 29th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of GBX 6,345 ($85.71).

Ashtead Group Trading Up 1.6%

The stock's 50 day simple moving average is GBX 4,504.97 and its 200 day simple moving average is GBX 4,530.26. 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 firm has a market cap of £27.90 billion, a PE ratio of 18.19, 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.