Ashtead Technology (LON:AT) Stock Falls 0.2% - Here's What Happened

Key Points

• Ashtead Technology shares slipped 0.2% to GBX 608, with about 383,277 shares traded.
• Analysts have cut several price targets, including Canaccord’s to GBX 500 and RBC’s to GBX 400, though the consensus remains “Moderate Buy” with an average target of GBX 587.50.
• The company reported quarterly EPS of GBX 20.60; analysts expect full-year EPS of GBX 42.82.

Ashtead Technology Holdings Plc (LON:AT - Get Free Report)'s stock price dropped 0.2% on Tuesday. The stock traded as low as GBX 608 and last traded at GBX 608. Approximately 383,277 shares traded hands during mid-day trading, The stock had previously closed at GBX 609.

Analysts Set New Price Targets

Several analysts have recently weighed in on AT shares. Canaccord Genuity Group dropped their price target 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, September 17th. Berenberg Bank reduced their price target on shares of Ashtead Technology from GBX 700 to GBX 650 and set a "buy" rating on the stock in a research report on Friday, August 21st. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a GBX 650 price objective on shares of Ashtead Technology in a research report on Wednesday, September 2nd. Finally, Royal Bank Of Canada lowered Ashtead Technology to a "sector perform" rating and lowered their price objective for the stock from GBX 560 to GBX 400 in a research report on Thursday, September 3rd. Five equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of GBX 587.50.

Ashtead Technology Stock Down 0.2%

The stock has a market capitalization of £482.19 million, a price-to-earnings ratio of 19.63 and a beta of 0.41. The business has a 50-day moving average of GBX 465 and a 200-day moving average of GBX 442.51. The company has a debt-to-equity ratio of 73.72, a quick ratio of 1.46 and a current ratio of 2.21.

Ashtead Technology (LON:AT - Get Free Report) last posted its earnings results on Tuesday, September 1st. The company reported GBX 20.60 EPS for the quarter. Ashtead Technology had a net margin of 15.56% and a return on equity of 19.41%. On average, sell-side analysts expect that Ashtead Technology Holdings Plc will post 42.82 EPS for the current year.

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. 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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