Ashtead Group (LON:AHT) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

Ashtead Group plc (LON:AHT) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 5,125.16 and traded as high as GBX 5,400. Ashtead Group shares last traded at GBX 5,326, with a volume of 31,132,814 shares trading hands.

Wall Street Analyst Weigh In

Separately, Peel Hunt restated a “hold” rating and issued a GBX 5,000 price objective on shares of Ashtead Group in a research report on Monday, December 15th. Three research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus target price of GBX 5,075.

Ashtead Group Stock Performance

The company has a quick ratio of 1.13, a current ratio of 1.28 and a debt-to-equity ratio of 142.74. The stock has a market cap of £22.10 billion, a price-to-earnings ratio of 16.11, a PEG ratio of 1.32 and a beta of 1.22. The stock’s fifty day moving average is GBX 5,173.50 and its 200-day moving average is GBX 5,125.16.

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. The company offers its products and services for facilities maintenance and municipalities, such as office complexes, apartment complexes, government, hospitals, data centers, parks and recreation departments, schools and universities, shopping centers, pavement/kerb repairs, and golf course maintenance; construction of airports, highways and bridges, office buildings, data centers, schools and universities, shopping centers, residential, remodeling, manufacturing plants, and green energy plants; emergency response for fire, hurricanes, flooding, tornadoes, winter, storms, residential and health emergencies, alternative care facilities, points of distribution, and mobile testing facilities; and entertainment and special events, including national events, concerts, sporting events, film and telvision production, theme parks, festivals farmers' markets, local 5k runs, and cycle races.