Ashtead Group (LON:AHT) Reaches New 52-Week High After Analyst Upgrade

Ashtead Group plc (LON:AHT) shares hit a new 52-week high during trading on Monday after JPMorgan Chase & Co. raised their price target on the stock from GBX 6,600 to GBX 7,300. JPMorgan Chase & Co. currently has an overweight rating on the stock. Ashtead Group traded as high as GBX 6,448 ($82.19) and last traded at GBX 6,406 ($81.66), with a volume of 2324822 shares. The stock had previously closed at GBX 6,400 ($81.58).

Other analysts have also recently issued reports about the company. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a GBX 6,500 ($82.86) price objective on shares of Ashtead Group in a research report on Wednesday, September 4th. Berenberg Bank reiterated a “buy” rating and issued a GBX 7,000 ($89.23) target price on shares of Ashtead Group in a research report on Monday, October 14th. Finally, Jefferies Financial Group reissued a “buy” rating and set a GBX 6,150 ($78.39) target price on shares of Ashtead Group in a research note on Tuesday, September 3rd. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of GBX 6,441.67 ($82.11).

Insider Activity at Ashtead Group

In other Ashtead Group news, insider Lucinda Riches sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of GBX 5,880 ($74.95), for a total value of £58,800 ($74,952.20). 0.64% of the stock is owned by corporate insiders.

Ashtead Group Price Performance

The firm has a market cap of £27.39 billion, a price-to-earnings ratio of 2,366.79, 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. The stock’s fifty day moving average price is GBX 6,029.11 and its 200-day moving average price is GBX 5,611.93.

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.