Ashtead Technology's (AT) "Buy" Rating Reiterated at Berenberg Bank

Key Points

• Berenberg Bank has reiterated a "buy" rating for Ashtead Technology, setting a price target of GBX 700, suggesting a potential upside of 103.49% from the current price.
• Ashtead Technology recently reported quarterly earnings of GBX 21.90 per share, with a projected EPS of 42.82 for the current fiscal year.
• Insider purchases increased significantly, with a total of 46,226 shares acquired valued at approximately $17.58 million in the last three months.

Ashtead Technology (LON:AT - Get Free Report)'s stock had its "buy" rating restated by equities researchers at Berenberg Bank in a research report issued to clients and investors on Tuesday,Digital Look reports. They currently have a GBX 700 price target on the stock. Berenberg Bank's price target would suggest a potential upside of 103.49% from the stock's current price.

AT has been the topic of several other research reports. Canaccord Genuity Group cut their target price on Ashtead Technology from GBX 825 to GBX 600 and set a "buy" rating on the stock in a research report on Friday, July 25th. Peel Hunt reissued a "buy" rating and set a GBX 725 price objective on shares of Ashtead Technology in a report on Friday, August 1st. Four analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of GBX 721.25.

Ashtead Technology Price Performance

Ashtead Technology stock opened at GBX 344 on Tuesday. 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 company has a fifty day simple moving average of GBX 383.26 and a 200-day simple moving average of GBX 452.80. The stock has a market cap of £272.82 million, a P/E ratio of 11.11 and a beta of 0.28. Ashtead Technology has a 12-month low of GBX 426 and a 12-month high of GBX 893.

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

Insider Buying and Selling at Ashtead Technology

In other Ashtead Technology news, insider Jean Cahuzac acquired 8,600 shares of the stock in a transaction on Tuesday, August 26th. The shares were bought at an average cost of GBX 379 per share, with a total value of £32,594. Also, insider Thomas Thomsen acquired 2,910 shares of the stock in a transaction on Tuesday, August 26th. The shares were acquired at an average cost of GBX 369 per share, for a total transaction of £10,737.90. In the last three months, insiders have acquired 46,226 shares of company stock valued at $17,576,234. 3.28% of the stock is currently owned by insiders.

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.

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