Ashtead Technology (LON:AT) Given Buy Rating 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 93.91% from the current stock price.
• Several analysts, including Peel Hunt and Canaccord Genuity, have also given buy ratings, with a range of target prices from GBX 560 to GBX 725.
• Insider activity indicates confidence in the company, with key insiders purchasing 48,476 shares worth approximately £115,500 in total over the last 90 days.

Berenberg Bank reissued their buy rating on shares of Ashtead Technology (LON:AT - Free Report) in a report issued on Monday morning, Marketbeat.com reports. Berenberg Bank currently has a GBX 700 price objective on the stock.

Several other equities analysts have also commented on the stock. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a GBX 560 price objective on shares of Ashtead Technology in a research report on Wednesday, September 3rd. Peel Hunt reaffirmed a "buy" rating and issued a GBX 725 price objective on shares of Ashtead Technology in a research report on Friday, August 1st. Finally, Canaccord Genuity Group decreased their price objective on shares of Ashtead Technology from GBX 825 to GBX 600 and set a "buy" rating for the company in a research report on Friday, July 25th. Four analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of GBX 646.25.

Ashtead Technology Stock Down 2.7%

Shares of LON:AT traded down GBX 10 during trading on Monday, reaching GBX 354. The stock had a trading volume of 1,348,046 shares. Ashtead Technology has a one year low of GBX 426 and a one year high of GBX 893. The company has a market capitalization of £280.75 million, a P/E ratio of 11.43 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's 50-day simple moving average is GBX 366.42 and its 200 day simple moving average is GBX 436.28.

Ashtead Technology (LON:AT - Get Free Report) last released its quarterly earnings results on Tuesday, August 26th. The company reported GBX 21.90 earnings per share for the quarter. Ashtead Technology had a net margin of 17.37% and a return on equity of 23.56%. As a group, research 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 purchased 8,600 shares of Ashtead Technology stock in a transaction on Tuesday, August 26th. The stock was bought at an average cost of GBX 379 per share, with a total value of £32,594. Also, insider William(Bill) Mervyn FrewCarey Shannon purchased 30,000 shares of Ashtead Technology stock in a transaction on Tuesday, August 26th. The shares were acquired at an average cost of GBX 385 per share, with a total value of £115,500. Over the last quarter, insiders purchased 48,476 shares of company stock valued at $18,392,364. 3.28% of the stock is 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.