Berenberg Bank Reiterates “Buy” Rating for Ashtead Technology (LON:AT)

Ashtead Technology (LON:AT)‘s stock had its “buy” rating reissued by research analysts at Berenberg Bank in a research note issued on Tuesday, Marketbeat.com reports. They currently have a GBX 700 target price on the stock. Berenberg Bank’s price objective would suggest a potential upside of 91.00% from the company’s current price.

AT has been the subject of a number of other reports. Peel Hunt reaffirmed a “buy” rating and issued a GBX 725 price target on shares of Ashtead Technology in a report on Friday, August 1st. Canaccord Genuity Group cut their price target on Ashtead Technology from GBX 825 to GBX 600 and set a “buy” rating for the company in a report on Friday, July 25th. Four analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Ashtead Technology has an average rating of “Buy” and a consensus target price of GBX 721.25.

Ashtead Technology Stock Up 6.5%

Shares of LON:AT opened at GBX 366.50 on Tuesday. The company’s fifty day moving average is GBX 381.99 and its 200-day moving average is GBX 451.45. The company has a debt-to-equity ratio of 70.83, a quick ratio of 1.46 and a current ratio of 1.82. Ashtead Technology has a 52 week low of GBX 426 and a 52 week high of GBX 893. The company has a market capitalization of £290.66 million, a PE ratio of 11.83 and a beta of 0.28.

Ashtead Technology (LON:AT) last released its quarterly earnings results on Tuesday, August 26th. The company reported GBX 21.90 earnings per share (EPS) for the quarter. Ashtead Technology had a return on equity of 23.56% and a net margin of 17.37%. Equities research analysts predict that Ashtead Technology will post 42.8247734 earnings per share for the current fiscal year.

Insider Transactions at Ashtead Technology

In other news, insider Thomas Thomsen acquired 2,910 shares of the company’s stock in a transaction on Tuesday, August 26th. The stock was purchased at an average cost of GBX 369 per share, with a total value of £10,737.90. Also, insider William(Bill) Mervyn FrewCarey Shannon acquired 30,000 shares of the company’s stock in a transaction on Tuesday, August 26th. The shares were purchased at an average cost of GBX 385 per share, with a total value of £115,500. Over the last quarter, insiders bought 46,226 shares of company stock valued at $17,576,234. 3.28% of the stock is owned by company insiders.

Ashtead Technology Company Profile

Ashtead Technology Holdings Plc provides subsea equipment rental solutions for the offshore energy sector in Europe, the Americas, the Asia-Pacific, and the Middle East. The company offers survey and robotics equipment comprising geophysical, hydrographic, metocean, land surveying, positioning, ROV sensors, non-destructive testing, subsea inspection, remote visual inspection, and environmental products.