Ashtead Technology (LON:AT) Trading Down 2.5% - What's Next?

Key Points

• Ashtead Technology Holdings Plc shares fell 2.5% on Tuesday, trading at GBX 351 ($4.72) after previously closing at GBX 360 ($4.84).
• Multiple analysts have issued buy ratings for Ashtead Technology, with target prices ranging from GBX 560 to GBX 700, leading to an average price target of GBX 646.25.
• Insider activity has been notable, with purchases totaling over £1.18 million in the last 90 days, indicating confidence in the company's future performance.

Shares of Ashtead Technology Holdings Plc (LON:AT - Get Free Report) fell 2.5% on Tuesday . The company traded as low as GBX 348 ($4.68) and last traded at GBX 351 ($4.72). 1,843,480 shares traded hands during trading, The stock had previously closed at GBX 360 ($4.84).

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on AT. Royal Bank Of Canada reissued an "outperform" rating and issued a GBX 560 target price on shares of Ashtead Technology in a report on Wednesday, September 3rd. Berenberg Bank reiterated a "buy" rating and issued a GBX 700 price target on shares of Ashtead Technology in a research report on Monday, September 8th. Canaccord Genuity Group decreased their price objective 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. Finally, Peel Hunt restated a "buy" rating and set a GBX 725 target price on shares of Ashtead Technology in a research note on Friday, August 1st. Four analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of GBX 646.25.

Ashtead Technology Price Performance

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's 50-day moving average price is GBX 350.19 and its 200-day moving average price is GBX 423.51. The stock has a market capitalization of £275.99 million, a PE ratio of 11.23 and a beta of 0.28.

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

Insider Buying and Selling

In other news, insider Kristin Færøvik acquired 485 shares of the business's stock in a transaction on Wednesday, August 27th. The shares were acquired at an average price of GBX 369 per share, for a total transaction of £1,789.65. Also, insider William(Bill) Mervyn FrewCarey Shannon bought 30,000 shares of Ashtead Technology stock in a transaction dated Tuesday, August 26th. The stock was purchased at an average cost of GBX 385 per share, for a total transaction of £115,500. Over the last 90 days, insiders have purchased 48,476 shares of company stock worth $18,392,364. 3.28% of the stock is currently owned by corporate insiders.

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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