Ashtead Technology (LON:AT) Posts Earnings Results

Key Points

• Ashtead Technology reported GBX 21.90 earnings per share for the quarter, with a net margin of 17.37% and a return on equity of 23.56%.
• The company’s stock is currently rated as a "Buy" by several analysts, with a consensus price target of GBX 721.25 following recent adjustments from different financial institutions.
• Ashtead Technology saw its stock price open at GBX 344, up 2.1%, with a market cap of £272.82 million and a P/E ratio of 11.11.

Ashtead Technology (LON:AT - Get Free Report) released its earnings results on Tuesday. The company reported GBX 21.90 EPS for the quarter, Digital Look Earnings reports. Ashtead Technology had a net margin of 17.37% and a return on equity of 23.56%.

Ashtead Technology Price Performance

LON:AT traded down GBX 9.50 on Thursday, hitting GBX 357. The company had a trading volume of 1,692,969 shares. The stock has a market capitalization of £283.13 million, a price-to-earnings ratio of 11.53 and a beta of 0.28. The company has a current ratio of 1.82, a quick ratio of 1.46 and a debt-to-equity ratio of 70.83. The firm has a 50 day moving average of GBX 380.53 and a two-hundred day moving average of GBX 450.10. Ashtead Technology has a 52 week low of GBX 426 and a 52 week high of GBX 893.

Insider Activity at Ashtead Technology

In other Ashtead Technology news, insider Jean Cahuzac purchased 8,600 shares of the company's stock in a transaction dated Tuesday, August 26th. The stock was purchased at an average price of GBX 379 per share, with a total value of £32,594. Also, insider Kristin Færøvik purchased 4,716 shares of the company's stock in a transaction dated Tuesday, August 26th. The shares were acquired at an average cost of GBX 359 per share, with a total value of £16,930.44. Insiders acquired 48,476 shares of company stock worth $18,392,364 in the last 90 days. 3.28% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Peel Hunt reissued a "buy" rating and set a GBX 725 price target on shares of Ashtead Technology in a research report on Friday, August 1st. Berenberg Bank reissued a "buy" rating and set a GBX 700 price target on shares of Ashtead Technology in a research report on Tuesday. Finally, Canaccord Genuity Group reduced their price target on shares of Ashtead Technology from GBX 825 to GBX 600 and set a "buy" rating on the stock in a research report on Friday, July 25th. Four equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Ashtead Technology presently has a consensus rating of "Buy" and an average price target of GBX 721.25.

Ashtead Technology Company Profile

Ashtead Technology Holdings Plc provides subsea equipment rental solutions for the offshore energy sector in Europe, the Americas, the Asia-Pacific, and the Middle East. The company offers survey and robotics equipment comprising geophysical, hydrographic, metocean, land surveying, positioning, ROV sensors, non-destructive testing, subsea inspection, remote visual inspection, and environmental products.