Ashtead Group (LON:AHT) Stock Passes Above Two Hundred Day Moving Average – Here’s What Happened

Ashtead Group plc (LON:AHT) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 5,530.79 ($71.73) and traded as high as GBX 5,854 ($75.92). Ashtead Group shares last traded at GBX 5,820 ($75.48), with a volume of 297,598 shares.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Berenberg Bank reiterated a “buy” rating and set a GBX 7,000 ($90.78) target price on shares of Ashtead Group in a research note on Monday, October 14th. Jefferies Financial Group reiterated a “buy” rating and set a GBX 6,150 ($79.76) target price on shares of Ashtead Group in a research note on Tuesday, September 3rd. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a GBX 6,500 ($84.30) target price on shares of Ashtead Group in a research note on Wednesday, September 4th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Ashtead Group has an average rating of “Moderate Buy” and an average price target of GBX 5,537.86 ($71.82).

Ashtead Group Price Performance

The company has a 50 day moving average of GBX 5,590.57 and a 200-day moving average of GBX 5,530.79. The firm has a market capitalization of £25.36 billion, a P/E ratio of 2,196.23, a P/E/G ratio of 1.32 and a beta of 1.22. The company has a current ratio of 1.17, a quick ratio of 1.13 and a debt-to-equity ratio of 145.75.

Insider Activity at Ashtead Group

In related news, insider Lucinda Riches sold 1,000 shares of the business’s stock in a transaction on Thursday, October 17th. The stock was sold at an average price of GBX 5,880 ($76.25), for a total value of £58,800 ($76,254.70). 0.64% of the stock is currently owned by corporate insiders.

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.