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 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 restated their buy rating on shares of Ashtead Technology (LON:AT - Free Report) in a report released on Monday, Marketbeat Ratings reports. They currently have a GBX 700 price objective on the stock.

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

Ashtead Technology Stock Performance

Shares of LON AT traded down GBX 10 during trading hours on Monday, hitting GBX 354. 1,348,046 shares of the company's stock were exchanged. Ashtead Technology has a 1-year low of GBX 426 and a 1-year high of GBX 893. 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 market capitalization of £280.75 million, a price-to-earnings ratio of 11.43 and a beta of 0.28. The company's 50-day moving average price is GBX 366.42 and its 200-day moving average price is GBX 436.98.

Ashtead Technology (LON:AT - Get Free Report) last posted 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, sell-side analysts expect that Ashtead Technology will post 42.8247734 earnings per share for the current fiscal year.

Insider Activity

In other news, insider William(Bill) Mervyn FrewCarey Shannon acquired 30,000 shares of the stock in a transaction on Tuesday, August 26th. The stock was acquired at an average cost of GBX 385 per share, for a total transaction of £115,500. Also, insider Thomas Thomsen purchased 2,910 shares of the stock in a transaction dated Tuesday, August 26th. The shares were bought at an average price of GBX 369 per share, with a total value of £10,737.90. Insiders have acquired 48,476 shares of company stock valued at $18,392,364 in the last three months. 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.