Ashtead Group (LON:AHT) Shares Pass Above 200-Day Moving Average – What’s Next?

Shares of Ashtead Group plc (LON:AHT) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 5,530.50 ($71.81) and traded as high as GBX 5,956 ($77.33). Ashtead Group shares last traded at GBX 5,858 ($76.06), with a volume of 485,721 shares traded.

Analyst Ratings Changes

AHT has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a GBX 6,500 ($84.39) target price on shares of Ashtead Group in a research report on Wednesday, September 4th. Berenberg Bank restated a “buy” rating and set a GBX 7,000 ($90.89) price objective on shares of Ashtead Group in a report on Monday, October 14th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a GBX 6,150 ($79.85) price objective on shares of Ashtead Group in a research report on Tuesday, September 3rd. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Ashtead Group has a consensus rating of “Moderate Buy” and an average target price of GBX 5,537.86 ($71.90).

Ashtead Group Stock Down 0.3 %

The firm has a market capitalization of £25.59 billion, a P/E ratio of 2,210.57, a PEG ratio of 1.32 and a beta of 1.22. 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 has a 50 day moving average of GBX 5,530.01 and a 200-day moving average of GBX 5,529.02.

Insider Activity

In related 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 ($76.34), for a total value of £58,800 ($76,343.81). 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.