Ashtead Group (LON:AHT) Stock Price Crosses Above 200-Day Moving Average – What’s Next?

Ashtead Group plc (LON:AHT)’s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 5,560.68 ($71.56) and traded as high as GBX 6,280 ($80.81). Ashtead Group shares last traded at GBX 6,268 ($80.66), with a volume of 763,448 shares trading hands.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on AHT shares. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a GBX 6,500 ($83.64) price target on shares of Ashtead Group in a report on Wednesday, September 4th. Berenberg Bank reiterated a “buy” rating and issued a GBX 7,000 ($90.08) target price on shares of Ashtead Group in a report on Monday, October 14th. Finally, Jefferies Financial Group reissued a “buy” rating and set a GBX 6,150 ($79.14) price target on shares of Ashtead Group in a research report on Tuesday, September 3rd. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 5,537.86 ($71.26).

Ashtead Group Price Performance

The firm has a 50-day simple moving average of GBX 5,727.41 and a 200-day simple moving average of GBX 5,560.68. The firm has a market cap of £27.34 billion, a P/E ratio of 2,365.28, a PEG 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.

Insider Buying and Selling

In other Ashtead Group news, insider Lucinda Riches sold 1,000 shares of Ashtead Group stock in a transaction dated Thursday, October 17th. The stock was sold at an average price of GBX 5,880 ($75.67), for a total value of £58,800 ($75,665.94). 0.64% of the stock is currently owned by company insiders.

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.