Ashtead Technology (LON:AT) Shares Down 1.1% - Here's Why

Key Points

• Ashtead Technology's shares decreased by 1.1%, trading at GBX 328 ($4.38) after falling from a previous close of GBX 331.50 ($4.43).
• Despite a recent drop in share price, the company maintains a consensus rating of "Buy" from four analysts, with a target price averaging GBX 646.25.
• Insider activity has been notable, with key individuals purchasing a total of 48,476 shares worth approximately $18.4 million in the last quarter.

Ashtead Technology Holdings Plc (LON:AT - Get Free Report)'s share price dropped 1.1% during trading on Wednesday . The company traded as low as GBX 320 ($4.28) and last traded at GBX 328 ($4.38). Approximately 384,565 shares were traded during mid-day trading, The stock had previously closed at GBX 331.50 ($4.43).

Analyst Ratings Changes

AT has been the topic of several research reports. Berenberg Bank restated a "buy" rating and issued a GBX 700 price target on shares of Ashtead Technology in a report on Monday, September 8th. Peel Hunt reissued a "buy" rating and issued a GBX 725 price objective on shares of Ashtead Technology in a research report on Friday, August 1st. Canaccord Genuity Group dropped their target price on Ashtead Technology from GBX 825 to GBX 600 and set a "buy" rating on the stock in a report on Friday, July 25th. Finally, Royal Bank Of Canada reiterated an "outperform" rating and set a GBX 560 target price on shares of Ashtead Technology in a report on Wednesday, September 3rd. Four analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of GBX 646.25.

Ashtead Technology Stock Performance

The firm has a market capitalization of £260.13 million, a PE ratio of 10.59 and a beta of 0.28. The company has a debt-to-equity ratio of 70.83, a current ratio of 1.82 and a quick ratio of 1.46. The stock has a 50-day moving average price of GBX 353.98 and a 200-day moving average price of GBX 405.39.

Ashtead Technology (LON:AT - Get Free Report) last announced its earnings results on Tuesday, August 26th. The company reported GBX 21.90 earnings per share (EPS) for the quarter. Ashtead Technology had a return on equity of 23.56% and a net margin of 17.37%. On average, research analysts expect that Ashtead Technology Holdings Plc will post 42.8247734 EPS for the current fiscal year.

Insider Activity at Ashtead Technology

In other Ashtead Technology news, insider Jean Cahuzac bought 8,600 shares of the stock in a transaction on Tuesday, August 26th. The stock was purchased at an average price of GBX 379 per share, for a total transaction of £32,594. Also, insider William(Bill) Mervyn FrewCarey Shannon acquired 30,000 shares of the stock in a transaction that occurred on Tuesday, August 26th. The shares were acquired at an average cost of GBX 385 per share, with a total value of £115,500. Insiders purchased a total of 48,476 shares of company stock worth $18,392,364 over the last quarter. Company insiders own 3.28% of the company's stock.

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.

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