Royal Bank Of Canada Reaffirms “Outperform” Rating for Ashtead Technology (LON:AT)

Ashtead Technology (LON:AT)‘s stock had its “outperform” rating restated by stock analysts at Royal Bank Of Canada in a research note issued to investors on Wednesday, MarketBeat reports. They presently have a GBX 560 price target on the stock. Royal Bank Of Canada’s price target points to a potential upside of 48.94% from the company’s current price.

A number of other research firms also recently weighed in on AT. Canaccord Genuity Group decreased their price target on Ashtead Technology from GBX 825 to GBX 600 and set a “buy” rating on the stock in a research note on Friday, July 25th. Berenberg Bank reiterated a “buy” rating and set a GBX 700 target price on shares of Ashtead Technology in a research report on Tuesday, August 26th. Finally, Peel Hunt reiterated a “buy” rating and set a GBX 725 target price on shares of Ashtead Technology in a research report on Friday, August 1st. Four analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of GBX 646.25.

Ashtead Technology Stock Up 2.3%

Ashtead Technology stock opened at GBX 376 on Wednesday. The company has a debt-to-equity ratio of 70.83, a current ratio of 1.82 and a quick ratio of 1.46. Ashtead Technology has a 1-year low of GBX 426 and a 1-year high of GBX 893. The company has a market cap of £298.19 million, a PE ratio of 12.14 and a beta of 0.28. The stock’s 50 day moving average price is GBX 375.50 and its 200 day moving average price is GBX 444.26.

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

Insider Buying and Selling

In related news, insider William(Bill) Mervyn FrewCarey Shannon purchased 30,000 shares of the business’s stock in a transaction dated Tuesday, August 26th. The stock was bought at an average cost of GBX 385 per share, with a total value of £115,500. Also, insider Thomas Thomsen purchased 2,910 shares of the business’s stock in a transaction dated Tuesday, August 26th. The stock was bought at an average cost of GBX 369 per share, with a total value of £10,737.90. In the last ninety days, insiders purchased 48,476 shares of company stock valued at $18,392,364. 3.28% of the stock is owned by insiders.

About Ashtead Technology

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.