Ashtead Group (LON:AHT) Downgraded to Sector perform Rating by Royal Bank of Canada

Royal Bank of Canada cut shares of Ashtead Group (LON:AHT - Free Report) to a sector perform rating in a research note published on Tuesday, MarketBeat Ratings reports. Royal Bank of Canada currently has GBX 4,125 ($54.80) target price on the stock, down from their previous target price of GBX 6,750 ($89.68).

Separately, Berenberg Bank reiterated a "buy" rating and issued a GBX 7,000 ($93.00) target price on shares of Ashtead Group in a research note on Wednesday, January 22nd. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Ashtead Group currently has an average rating of "Moderate Buy" and a consensus target price of GBX 6,387.50 ($84.86).

Ashtead Group Trading Up 1.2 %

Shares of LON AHT traded up GBX 48 ($0.64) during trading on Tuesday, hitting GBX 4,079 ($54.19). 2,486,690 shares of the company traded hands, compared to its average volume of 5,413,147. The company has a quick ratio of 1.13, a current ratio of 1.31 and a debt-to-equity ratio of 146.30. Ashtead Group has a 1 year low of GBX 3,477 ($46.19) and a 1 year high of GBX 6,448 ($85.66). The firm has a market capitalization of £22.27 billion, a P/E ratio of 14.52, a P/E/G ratio of 1.32 and a beta of 1.22. The company has a 50-day moving average price of GBX 4,197.78 and a 200-day moving average price of GBX 5,066.26.

Ashtead Group (LON:AHT - Get Free Report) last posted its earnings results on Tuesday, March 4th. The company reported GBX 77.20 ($1.03) EPS for the quarter. Ashtead Group had a net margin of 14.08% and a return on equity of 21.43%. On average, equities analysts predict that Ashtead Group will post 363.5658915 EPS for the current year.

Ashtead Group Cuts Dividend

The firm also recently declared a dividend, which was paid on Friday, February 7th. Shareholders of record on Thursday, January 9th were issued a $0.36 dividend. This represents a yield of 0.45%. The ex-dividend date was Thursday, January 9th. Ashtead Group's payout ratio is 28.47%.

Insider Activity

In related news, insider Renata Ribeiro bought 150 shares of the business's stock in a transaction dated Friday, April 11th. The shares were bought at an average cost of GBX 3,932 ($52.24) per share, with a total value of £5,898 ($7,835.79). Insiders own 0.64% of the company's stock.

About Ashtead Group

Ashtead Group plc, together with its subsidiaries, engages in the construction, industrial, and general equipment rental business in the United States, the United Kingdom, and Canada. It provides pumps, power generation, heating, cooling, scaffolding, traffic management, temporary flooring, trench shoring, and lifting services.