Ashtead Group (LON:AHT) Reaches New 52-Week High – What’s Next?

Shares of Ashtead Group plc (LON:AHT) reached a new 52-week high 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 traded. The stock had previously closed at GBX 5,968 ($77.69).

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on AHT. Jefferies Financial Group reiterated a “buy” rating and issued a GBX 6,150 ($80.06) price objective on shares of Ashtead Group in a research report on Tuesday, September 3rd. Berenberg Bank reaffirmed a “buy” rating and issued a GBX 7,000 ($91.12) price target on shares of Ashtead Group in a research note on Monday, October 14th. Finally, 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. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Ashtead Group currently has a consensus rating of “Moderate Buy” and a consensus price target of GBX 5,537.86 ($72.09).

Ashtead Group Stock Up 6.1 %

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 fifty day moving average of GBX 5,602.97 and a 200-day moving average of GBX 5,532.81. The firm has a market cap of £27.66 billion, a P/E ratio of 2,395.47, a price-to-earnings-growth ratio of 1.32 and a beta of 1.22.

Insider Buying and Selling at Ashtead Group

In other news, insider Lucinda Riches sold 1,000 shares of the firm’s stock in a transaction that occurred on 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). Corporate insiders own 0.64% of the company’s stock.

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.