Ashtead Group (LON:AHT) Given Buy Rating at Berenberg Bank

Berenberg Bank reissued their buy rating on shares of Ashtead Group (LON:AHT) in a research note issued to investors on Wednesday,Digital Look reports. The firm currently has a GBX 7,000 ($86.18) target price on the stock.

Several other research firms have also commented on AHT. Jefferies Financial Group reaffirmed a “buy” rating and issued a GBX 6,800 ($83.71) price target on shares of Ashtead Group in a report on Monday, December 16th. JPMorgan Chase & Co. raised their price objective on shares of Ashtead Group from GBX 6,600 ($81.25) to GBX 7,300 ($89.87) and gave the stock an “overweight” rating in a research note on Friday, December 6th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of GBX 6,550 ($80.64).

Ashtead Group Stock Performance

AHT opened at GBX 5,478 ($67.44) on Wednesday. The firm has a 50 day moving average of GBX 5,538.74 and a two-hundred day moving average of GBX 5,502.63. The firm has a market capitalization of £23.93 billion, a PE ratio of 2,067.17, a P/E/G 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. Ashtead Group has a 12-month low of GBX 4,807 ($59.18) and a 12-month high of GBX 6,448 ($79.38).

Ashtead Group Cuts Dividend

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

Insider Activity

In other news, insider Brendan Horgan purchased 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The stock was purchased at an average cost of GBX 5,320 ($65.49) per share, for a total transaction of £212,800 ($261,972.18). Company 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.