Ashtead Technology (LON:AT) Given "Outperform" Rating at Royal Bank Of Canada

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 note issued on Wednesday, MarketBeat.com reports. They currently have a GBX 560 price target on the stock. Royal Bank Of Canada's price objective would indicate a potential upside of 55.12% from the stock's current price.

Several other analysts have also commented on AT. Berenberg Bank reiterated a "buy" rating and issued a GBX 700 price target on shares of Ashtead Technology in a research report on Tuesday, August 26th. Peel Hunt restated a "buy" rating and set a GBX 725 target price on shares of Ashtead Technology in a research report on Friday, August 1st. Finally, Canaccord Genuity Group decreased their target price on shares of Ashtead Technology from GBX 825 to GBX 600 and set a "buy" rating on the stock in a research report on Friday, July 25th. Four research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Ashtead Technology has a consensus rating of "Buy" and a consensus target price of GBX 646.25.

Ashtead Technology Price Performance

Shares of AT stock traded up GBX 1 during trading hours on Wednesday, hitting GBX 361. The company's stock had a trading volume of 1,669,287 shares. The business has a fifty day moving average of GBX 372.50 and a 200-day moving average of GBX 441.15. The stock has a market cap of £286.30 million, a price-to-earnings ratio of 11.65 and a beta of 0.28. Ashtead Technology has a twelve month low of GBX 426 and a twelve month high of GBX 893. The company has a current ratio of 1.82, a quick ratio of 1.46 and a debt-to-equity ratio of 70.83.

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

Insider Buying and Selling at Ashtead Technology

In other Ashtead Technology news, insider Thomas Thomsen purchased 2,910 shares of the company's stock in a transaction dated Tuesday, August 26th. The shares were bought at an average price of GBX 369 per share, for a total transaction of £10,737.90. Also, insider Kristin Færøvik purchased 4,716 shares of the company's stock in a transaction dated Tuesday, August 26th. The shares were acquired at an average price of GBX 359 per share, for a total transaction of £16,930.44. In the last 90 days, insiders have purchased 48,476 shares of company stock worth $18,392,364. 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.