Ashtead Technology (LON:AT) Stock Price Up 4.4% - Should You Buy?

Key Points

• Shares rose 4.4% on Thursday to GBX 448.50 (intraday high GBX 449) on volume of about 790,528 shares, up from a prior close of GBX 429.60.
• Analysts are broadly positive with five "Buy" ratings and an average target of GBX 637, including Berenberg's GBX 700 and Stifel's GBX 600 targets.
• The company has a market cap of £355.7M and a PE ratio of 14.48, with strong profitability (ROE 21.8%, net margin 15.9%) but relatively high leverage (debt-to-equity 78.3%).

Ashtead Technology Holdings Plc (LON:AT - Get Free Report) rose 4.4% during trading on Thursday . The company traded as high as GBX 449 and last traded at GBX 448.50. Approximately 790,528 shares traded hands during mid-day trading, The stock had previously closed at GBX 429.60.

Analyst Upgrades and Downgrades

AT has been the topic of a number of recent research reports. Berenberg Bank reissued a "buy" rating and issued a GBX 700 target price on shares of Ashtead Technology in a research note on Monday, January 19th. Stifel Nicolaus reissued a "buy" rating and issued a GBX 600 target price on shares of Ashtead Technology in a research note on Thursday, March 19th. Five research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Ashtead Technology presently has an average rating of "Buy" and an average target price of GBX 637.

Ashtead Technology Stock Performance

The stock has a market capitalization of £355.69 million, a PE ratio of 14.48 and a beta of 0.34. The company has a debt-to-equity ratio of 78.29, a current ratio of 2.25 and a quick ratio of 1.46. The business has a 50 day moving average price of GBX 418.60 and a 200 day moving average price of GBX 366.62.

Ashtead Technology (LON:AT - Get Free Report) last announced its quarterly earnings results on Tuesday, March 17th. The company reported GBX 49.40 earnings per share (EPS) for the quarter. Ashtead Technology had a return on equity of 21.84% and a net margin of 15.85%. As a group, equities research analysts expect that Ashtead Technology Holdings Plc will post 42.8247734 earnings per share for the current year.

About Ashtead Technology

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. It also provides mechanical solutions, consisting of subsea cutting, coating removal and cleaning, subsea dredging, ROV and diver tooling, intervention skids, topside support, recovery tools, ancillary deck equipment, and fabrication solutions.

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