Ashtead Group (LON:AHT) Coverage Initiated at Berenberg Bank

Berenberg Bank initiated coverage on shares of Ashtead Group (LON:AHT) in a report released on Wednesday, Marketbeat reports. The firm set a “buy” rating and a GBX 7,000 ($92.47) price target on the stock. Berenberg Bank’s price target would indicate a potential upside of 21.11% from the stock’s previous close.

AHT has been the topic of a number of other research reports. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a GBX 6,500 ($85.87) price target on shares of Ashtead Group in a research report on Wednesday, September 4th. Jefferies Financial Group reiterated a “buy” rating and issued a GBX 6,150 ($81.24) target price on shares of Ashtead Group in a report on Tuesday, September 3rd. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Ashtead Group presently has an average rating of “Moderate Buy” and an average price target of GBX 5,537.86 ($73.16).

Ashtead Group Stock Up 4.3 %

AHT stock opened at GBX 5,780 ($76.35) on Wednesday. The company has a quick ratio of 1.13, a current ratio of 1.17 and a debt-to-equity ratio of 145.75. The firm’s 50-day simple moving average is GBX 5,284.56 and its 200 day simple moving average is GBX 5,463.34. The stock has a market cap of £25.24 billion, a PE ratio of 2,132.84, a price-to-earnings-growth ratio of 1.20 and a beta of 1.22. Ashtead Group has a fifty-two week low of GBX 4,437 ($58.61) and a fifty-two week high of GBX 6,180 ($81.64).

Insiders Place Their Bets

In other news, insider Lucinda Riches sold 4,000 shares of the stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of GBX 5,480 ($72.39), for a total transaction of £219,200 ($289,564.07). In related news, insider Brendan Horgan sold 37,063 shares of the firm’s stock in a transaction on Friday, July 5th. The shares were sold at an average price of GBX 5,112 ($67.53), for a total value of £1,894,660.56 ($2,502,854.11). Also, insider Lucinda Riches sold 4,000 shares of Ashtead Group stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of GBX 5,480 ($72.39), for a total transaction of £219,200 ($289,564.07). Insiders own 0.64% of the company’s stock.

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.