Berenberg Bank Reaffirms Buy Rating for Ashtead Group (LON:AHT)

Berenberg Bank reissued their buy rating on shares of Ashtead Group (LON:AHT) in a report published on Wednesday morning,Digital Look reports. The firm currently has a GBX 7,000 ($86.18) price objective on the stock.

Other equities research analysts have also issued research reports about the stock. JPMorgan Chase & Co. upped their price objective on shares of Ashtead Group from GBX 6,600 ($81.25) to GBX 7,300 ($89.87) and gave the company an “overweight” rating in a report on Friday, December 6th. Jefferies Financial Group reaffirmed a “buy” rating and set a GBX 6,800 ($83.71) price target on shares of Ashtead Group in a research report on Monday, December 16th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of GBX 6,550 ($80.64).

Ashtead Group Stock Performance

LON AHT opened at GBX 5,478 ($67.44) on Wednesday. The company has a debt-to-equity ratio of 145.75, a quick ratio of 1.13 and a current ratio of 1.17. The stock’s fifty day moving average is GBX 5,538.74 and its two-hundred day moving average is GBX 5,502.63. The firm has a market capitalization of £23.93 billion, a P/E ratio of 2,067.17, a price-to-earnings-growth ratio of 1.32 and a beta of 1.22. Ashtead Group has a fifty-two week low of GBX 4,807 ($59.18) and a fifty-two week high of GBX 6,448 ($79.38).

Ashtead Group Cuts Dividend

The business also recently disclosed a dividend, which will be paid on Friday, February 7th. Investors of record on Thursday, January 9th will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Thursday, January 9th. This represents a dividend yield of 0.45%. Ashtead Group’s payout ratio is currently 3,018.87%.

Insider Activity at Ashtead Group

In other news, insider Brendan Horgan bought 4,000 shares of the stock in a transaction that occurred on Wednesday, December 11th. The stock was bought at an average cost of GBX 5,320 ($65.49) per share, for a total transaction of £212,800 ($261,972.18). 0.64% of the stock is owned by 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.