Ashtead Group (LON:AHT) Hits New 12-Month High After Analyst Upgrade

Shares of Ashtead Group plc (LON:AHT) hit a new 52-week high on Monday after JPMorgan Chase & Co. raised their price target on the stock from GBX 6,600 to GBX 7,300. JPMorgan Chase & Co. currently has an overweight rating on the stock. Ashtead Group traded as high as GBX 6,448 ($82.38) and last traded at GBX 6,406 ($81.84), with a volume of 2324822 shares traded. The stock had previously closed at GBX 6,400 ($81.77).

Several other analysts have also recently weighed in on AHT. Berenberg Bank restated a “buy” rating and set a GBX 7,000 ($89.43) price target on shares of Ashtead Group in a report on Monday, October 14th. Jefferies Financial Group reiterated a “buy” rating and set a GBX 6,150 ($78.57) target price on shares of Ashtead Group in a research report on Tuesday, September 3rd. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a GBX 6,500 ($83.05) price target on shares of Ashtead Group in a research report on Wednesday, September 4th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of GBX 6,441.67 ($82.30).

Insider Buying and Selling

In related news, insider Lucinda Riches sold 1,000 shares of Ashtead Group stock in a transaction on Thursday, October 17th. The shares were sold at an average price of GBX 5,880 ($75.12), for a total transaction of £58,800 ($75,124.57). 0.64% of the stock is owned by insiders.

Ashtead Group Stock Performance

The stock has a fifty day simple moving average of GBX 6,020.99 and a two-hundred day simple moving average of GBX 5,609.31. 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 market capitalization of £23.55 billion, a price-to-earnings ratio of 2,034.72, a P/E/G ratio of 1.32 and a beta of 1.22.

Ashtead Group Cuts Dividend

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

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.