Ashtead Group (LON:AHT) Hits New 12-Month High – Time to Buy?

Ashtead Group plc (LON:AHT) reached a new 52-week high during trading on Wednesday . The stock traded as high as GBX 6,384 ($83.10) and last traded at GBX 6,296 ($81.96), with a volume of 119581023 shares changing hands. The stock had previously closed at GBX 5,968 ($77.69).

Analyst Upgrades and Downgrades

AHT has been the topic of several research reports. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a GBX 6,500 ($84.61) price objective on shares of Ashtead Group in a report on Wednesday, September 4th. Jefferies Financial Group restated a “buy” rating and issued a GBX 6,150 ($80.06) target price on shares of Ashtead Group in a report on Tuesday, September 3rd. Finally, Berenberg Bank reissued a “buy” rating and set a GBX 7,000 ($91.12) price target on shares of Ashtead Group in a research report on Monday, October 14th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Ashtead Group currently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 5,537.86 ($72.09).

Ashtead Group Trading Down 1.4 %

The firm has a 50 day moving average of GBX 5,645.81 and a 200 day moving average of GBX 5,542.53. The firm has a market cap of £27.28 billion, a PE ratio of 2,389.43, a P/E/G ratio of 1.32 and a beta of 1.22. The company has a quick ratio of 1.13, a current ratio of 1.17 and a debt-to-equity ratio of 145.75.

Insider Activity

In related news, insider Lucinda Riches sold 1,000 shares of the business’s stock in a transaction dated Thursday, October 17th. The stock was sold at an average price of GBX 5,880 ($76.54), for a total value of £58,800 ($76,542.57). Insiders own 0.64% of the company’s stock.

Ashtead Group Company Profile

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.