Ashtead Group (LON:AHT) Share Price Passes Above 200 Day Moving Average of $2,068.94

Ashtead Group plc (LON:AHT)’s stock price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $2,068.94 and traded as high as $2,206.74. Ashtead Group shares last traded at $2,147.00, with a volume of 751,216 shares traded.

A number of analysts have recently weighed in on the stock. Barclays reaffirmed an “overweight” rating and issued a GBX 2,230 ($29.14) price target on shares of Ashtead Group in a research note on Wednesday, June 19th. Peel Hunt reaffirmed a “buy” rating on shares of Ashtead Group in a research note on Monday, June 17th. Numis Securities reaffirmed a “buy” rating and issued a GBX 2,800 ($36.59) price target on shares of Ashtead Group in a research note on Thursday, June 13th. Royal Bank of Canada increased their target price on shares of Ashtead Group from GBX 2,400 ($31.36) to GBX 2,800 ($36.59) and gave the company an “outperform” rating in a research note on Monday, June 24th. Finally, Deutsche Bank reissued a “hold” rating on shares of Ashtead Group in a research note on Wednesday, June 19th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Ashtead Group currently has an average rating of “Buy” and a consensus target price of GBX 2,388.18 ($31.21).

The company has a current ratio of 1.39, a quick ratio of 1.27 and a debt-to-equity ratio of 134.18. The firm has a market cap of $9.92 billion and a PE ratio of 12.98. The company’s 50-day moving average is GBX 2,215.30 and its 200 day moving average is GBX 2,068.94.

The company also recently declared a dividend, which will be paid on Friday, September 13th. Investors of record on Thursday, August 15th will be given a GBX 33.50 ($0.44) dividend. This represents a dividend yield of 1.61%. The ex-dividend date of this dividend is Thursday, August 15th. This is an increase from Ashtead Group’s previous dividend of $6.50. Ashtead Group’s dividend payout ratio is 0.24%.

In other Ashtead Group news, insider Brendan Horgan sold 46,792 shares of the company’s stock in a transaction that occurred on Thursday, July 4th. The shares were sold at an average price of GBX 2,320 ($30.31), for a total value of £1,085,574.40 ($1,418,495.23). Also, insider Paul Walker acquired 14,000 shares of the company’s stock in a transaction on Friday, June 21st. The stock was bought at an average price of GBX 2,163 ($28.26) per share, for a total transaction of £302,820 ($395,687.97).

About Ashtead Group (LON:AHT)

Ashtead Group plc, together with its subsidiaries, rents a range of construction and industrial equipment. It offers equipment for use in lifting, powering, generation, moving, digging, compacting, drilling, supporting, scrubbing, pumping, directing, heating, and ventilating works. The company provides various types of construction equipment for non-residential construction markets; and facilities management equipment for the maintenance and repair of facilities.

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