Ashtead Group (LON:AHT) Sets New 1-Year Low – What’s Next?

Shares of Ashtead Group plc (LON:AHT) hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as GBX 4,583 ($59.07) and last traded at GBX 4,587 ($59.13), with a volume of 5005411 shares trading hands. The stock had previously closed at GBX 4,799 ($61.86).

Wall Street Analyst Weigh In

Several brokerages have commented on AHT. Berenberg Bank reissued a “buy” rating and set a GBX 7,000 ($90.23) price target on shares of Ashtead Group in a research report on Wednesday, January 22nd. Jefferies Financial Group reissued a “buy” rating and set a GBX 6,800 ($87.65) price target on shares of Ashtead Group in a research report on Monday, December 16th. Finally, JPMorgan Chase & Co. boosted their price target on Ashtead Group from GBX 6,600 ($85.07) to GBX 7,300 ($94.10) and gave the stock an “overweight” rating in a research report on Friday, December 6th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of GBX 6,550 ($84.43).

Ashtead Group Price Performance

The company has a 50 day moving average price of GBX 5,043.83 and a 200 day moving average price of GBX 5,455.24. The company has a current ratio of 1.31, a quick ratio of 1.13 and a debt-to-equity ratio of 146.30. The company has a market capitalization of £24.50 billion, a P/E ratio of 15.97, a P/E/G ratio of 1.32 and a beta of 1.22.

Ashtead Group (LON:AHT) last posted its earnings results on Tuesday, March 4th. The company reported GBX 77.20 ($1.00) earnings per share (EPS) for the quarter. Ashtead Group had a net margin of 14.08% and a return on equity of 21.43%. On average, equities analysts predict that Ashtead Group plc will post 363.5658915 EPS for the current fiscal year.

Ashtead Group Cuts Dividend

The company also recently announced a dividend, which was paid on Friday, February 7th. Stockholders of record on Thursday, January 9th were given a $0.36 dividend. This represents a dividend yield of 0.45%. The ex-dividend date was Thursday, January 9th. Ashtead Group’s payout ratio is 28.47%.

Insider Transactions at Ashtead Group

In other Ashtead Group news, insider Brendan Horgan purchased 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The shares were acquired at an average cost of GBX 5,320 ($68.57) per share, for a total transaction of £212,800 ($274,297.50). 0.64% of the stock is 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.