Ashtead Group (LON:AHT) Earns Buy Rating from Analysts at Berenberg Bank

Stock analysts at Berenberg Bank initiated coverage on shares of Ashtead Group (LON:AHT) in a report released on Wednesday, Digital Look reports. The brokerage set a “buy” rating and a GBX 7,000 ($92.47) price target on the stock. Berenberg Bank’s target price points to a potential upside of 22.72% from the company’s previous close.

Several other analysts have also recently weighed in on AHT. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a GBX 6,500 ($85.87) target price on shares of Ashtead Group in a report on Wednesday, September 4th. Jefferies Financial Group reaffirmed a “buy” rating and set a GBX 6,150 ($81.24) price objective on shares of Ashtead Group in a research report on Tuesday, September 3rd. Two 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.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of GBX 5,537.86 ($73.16).

Ashtead Group Stock Up 3.0 %

LON AHT traded up GBX 164 ($2.17) during trading hours on Wednesday, hitting GBX 5,704 ($75.35). 4,005,952 shares of the company were exchanged, compared to its average volume of 1,177,054. The company has a quick ratio of 1.13, a current ratio of 1.17 and a debt-to-equity ratio of 145.75. The firm has a market cap of £24.91 billion, a price-to-earnings ratio of 2,104.80, a PEG ratio of 1.20 and a beta of 1.22. The company has a 50 day moving average of GBX 5,284.56 and a two-hundred day moving average of GBX 5,463.34. Ashtead Group has a 52-week low of GBX 4,437 ($58.61) and a 52-week high of GBX 6,180 ($81.64).

Insider Buying and Selling

In other Ashtead Group news, insider Brendan Horgan sold 37,063 shares of the company’s stock in a transaction on Friday, July 5th. The shares were sold at an average price of GBX 5,112 ($67.53), for a total value of £1,894,660.56 ($2,502,854.11). In other Ashtead Group news, insider Renata Ribeiro bought 160 shares of the stock in a transaction dated Monday, July 1st. The shares were acquired at an average cost of GBX 5,273 ($69.66) per share, for a total transaction of £8,436.80 ($11,145.05). Also, insider Brendan Horgan sold 37,063 shares of the company’s stock in a transaction on Friday, July 5th. The shares were sold at an average price of GBX 5,112 ($67.53), for a total transaction of £1,894,660.56 ($2,502,854.11). 0.64% of the stock is owned by company insiders.

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.