Royal Bank Of Canada Reiterates "Outperform" Rating for Ashtead Technology (LON:AT)

Key Points

• Royal Bank of Canada has reiterated its "outperform" rating for Ashtead Technology (LON:AT) with a price target of GBX 560, suggesting a potential upside of 52.59% from the current stock price.
• Ashtead Technology's stock recently opened at GBX 367 and has a market capitalization of £291.06 million, with a price-to-earnings ratio of 11.85.
• Insider transactions indicate confidence, as insiders purchased a total of 48,476 shares worth £115,500 in recent months.

Ashtead Technology (LON:AT - Get Free Report)'s stock had its "outperform" rating reiterated by equities researchers at Royal Bank Of Canada in a research report issued to clients and investors on Wednesday,London Stock Exchange reports. They presently have a GBX 560 price objective on the stock. Royal Bank Of Canada's price objective would indicate a potential upside of 52.59% from the stock's current price.

A number of other research firms have also issued reports on AT. Berenberg Bank reaffirmed a "buy" rating and issued a GBX 700 price target on shares of Ashtead Technology in a research report on Tuesday, August 26th. Canaccord Genuity Group cut their price target on Ashtead Technology from GBX 825 to GBX 600 and set a "buy" rating on the stock in a research report on Friday, July 25th. Finally, Peel Hunt reiterated a "buy" rating and issued a GBX 725 target price on shares of Ashtead Technology in a research note on Friday, August 1st. Four research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of GBX 646.25.

Ashtead Technology Stock Down 2.3%

Shares of AT opened at GBX 367 on Wednesday. The company has a debt-to-equity ratio of 70.83, a quick ratio of 1.46 and a current ratio of 1.82. Ashtead Technology has a one year low of GBX 426 and a one year high of GBX 893. The stock has a market capitalization of £291.06 million, a price-to-earnings ratio of 11.85 and a beta of 0.28. The stock has a 50 day moving average price of GBX 376.35 and a 200 day moving average price of GBX 445.33.

Ashtead Technology (LON:AT - Get Free Report) last issued its earnings results on Tuesday, August 26th. The company reported GBX 21.90 earnings per share (EPS) for the quarter. Ashtead Technology had a return on equity of 23.56% and a net margin of 17.37%. Equities research analysts forecast that Ashtead Technology will post 42.8247734 earnings per share for the current fiscal year.

Insider Transactions at Ashtead Technology

In other news, insider William(Bill) Mervyn FrewCarey Shannon purchased 30,000 shares of the stock in a transaction on Tuesday, August 26th. The stock was purchased at an average price of GBX 385 per share, with a total value of £115,500. Also, insider Jean Cahuzac purchased 8,600 shares of the stock in a transaction on Tuesday, August 26th. The shares were purchased at an average cost of GBX 379 per share, with a total value of £32,594. Insiders bought a total of 48,476 shares of company stock worth $18,392,364 in the last three months. 3.28% of the stock is currently owned by insiders.

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.

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