Ashtead Technology (LON:AT) Earns “Outperform” Rating from Royal Bank Of Canada

Ashtead Technology (LON:AT)‘s stock had its “outperform” rating reiterated by stock analysts at Royal Bank Of Canada in a note issued to investors on Thursday,Digital Look reports. They presently have a GBX 560 target price on the stock. Royal Bank Of Canada’s target price would indicate a potential upside of 31.46% from the company’s previous close.

Separately, Stifel Nicolaus reaffirmed a “buy” rating and issued a GBX 600 price objective on shares of Ashtead Technology in a research note on Thursday, March 19th. Five equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of GBX 637.

Ashtead Technology Stock Performance

Shares of AT stock opened at GBX 426 on Thursday. The business’s 50-day moving average price is GBX 449.01 and its 200-day moving average price is GBX 425.96. Ashtead Technology has a 12 month low of GBX 426 and a 12 month high of GBX 893. The firm has a market capitalization of £337.85 million, a price-to-earnings ratio of 13.75 and a beta of 0.41. The company has a current ratio of 2.25, a quick ratio of 1.46 and a debt-to-equity ratio of 78.29.

Insiders Place Their Bets

In other news, insider Jean Cahuzac bought 9,500 shares of the company’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were acquired at an average price of GBX 423 per share, for a total transaction of £40,185. 3.28% of the stock is owned by corporate 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. It also provides mechanical solutions, consisting of subsea cutting, coating removal and cleaning, subsea dredging, ROV and diver tooling, intervention skids, topside support, recovery tools, ancillary deck equipment, and fabrication solutions.