Ashtead Group (LON:AHT) Share Price Crosses Above 200 Day Moving Average – What’s Next?

Ashtead Group plc (LON:AHT)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 4,536.33 ($61.45) and traded as high as GBX 5,474 ($74.15). Ashtead Group shares last traded at GBX 5,434.44 ($73.62), with a volume of 438,278 shares traded.

Analyst Upgrades and Downgrades

Separately, UBS Group reaffirmed a “neutral” rating and issued a GBX 5,000 price objective on shares of Ashtead Group in a research report on Friday, August 15th. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Ashtead Group presently has a consensus rating of “Moderate Buy” and an average target price of GBX 6,120.83.

Ashtead Group Stock Performance

The company’s 50-day moving average is GBX 5,005.38 and its two-hundred day moving average is GBX 4,536.33. The company has a quick ratio of 1.13, a current ratio of 1.31 and a debt-to-equity ratio of 146.30. The company has a market cap of £23.11 billion, a P/E ratio of 1,571.55, a price-to-earnings-growth ratio of 1.32 and a beta of 1.22.

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.