Ashtead Technology Holdings Plc (LON:AT) Given Average Recommendation of "Moderate Buy" by Analysts

Key Points

• Analysts maintain a “Moderate Buy” consensus for Ashtead Technology, with five buy ratings and one hold. The average 12-month price target is GBX 587.50.
• Recent analysts have generally lowered their targets, though most remain bullish: RBC downgraded the stock to “sector perform” with a GBX 400 target, while Deutsche Bank, Berenberg, and Canaccord retained buy ratings with targets ranging from GBX 500 to GBX 650.
• Ashtead Technology reported quarterly EPS of GBX 20.60, a 15.56% net margin, and a 19.41% return on equity. Analysts expect full-year EPS of approximately GBX 42.82.

Shares of Ashtead Technology Holdings Plc (LON:AT - Get Free Report) have received an average recommendation of "Moderate Buy" from the six ratings firms that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is GBX 587.50.

AT has been the topic of several recent analyst reports. Royal Bank Of Canada downgraded Ashtead Technology to a "sector perform" rating and reduced their price target for the stock from GBX 560 to GBX 400 in a report on Thursday, September 3rd. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a GBX 650 price objective on shares of Ashtead Technology in a research report on Wednesday, September 2nd. Berenberg Bank decreased their target price on Ashtead Technology from GBX 700 to GBX 650 and set a "buy" rating for the company in a research report on Friday, August 21st. Finally, Canaccord Genuity Group lowered their target price on shares of Ashtead Technology from GBX 600 to GBX 500 and set a "buy" rating for the company in a research note on Thursday.

Ashtead Technology Stock Performance

Shares of LON:AT opened at GBX 339 on Thursday. The company has a current ratio of 2.21, a quick ratio of 1.46 and a debt-to-equity ratio of 73.72. Ashtead Technology has a 12 month low of GBX 426 and a 12 month high of GBX 893. The company has a market capitalization of £268.85 million, a price-to-earnings ratio of 10.94 and a beta of 0.41. The firm's 50-day moving average is GBX 393.88 and its 200 day moving average is GBX 428.25.

Ashtead Technology (LON:AT - Get Free Report) last announced its quarterly earnings data on Tuesday, September 1st. The company reported GBX 20.60 earnings per share (EPS) for the quarter. Ashtead Technology had a net margin of 15.56% and a return on equity of 19.41%. Research analysts predict that Ashtead Technology will post 42.8247734 EPS 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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