Ashtead Technology (LON:AT) Trading Down 4.9% – Here’s What Happened

Ashtead Technology Holdings Plc (LON:AT)’s stock price fell 4.9% during trading on Thursday . The stock traded as low as GBX 412 and last traded at GBX 422.50. Approximately 347,681 shares were traded during trading, The stock had previously closed at GBX 444.50.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on AT. Royal Bank Of Canada reaffirmed an “outperform” rating and set a GBX 560 price objective on shares of Ashtead Technology in a report on Thursday, July 16th. Berenberg Bank reaffirmed a “buy” rating and set a GBX 700 price target on shares of Ashtead Technology in a research note on Thursday, July 16th. Four equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of GBX 646.25.

Ashtead Technology Trading Up 1.0%

The business has a 50-day moving average of GBX 429.47 and a 200 day moving average of GBX 437.56. The stock has a market cap of £336.26 million, a PE ratio of 13.69 and a beta of 0.41. The company has a debt-to-equity ratio of 78.29, a quick ratio of 1.46 and a current ratio of 2.25.

Insider Buying and Selling at Ashtead Technology

In other news, insider Jean Cahuzac acquired 9,500 shares of the business’s stock in a transaction dated Wednesday, June 3rd. The stock was acquired at an average price of GBX 423 per share, with a total value of £40,185. 3.28% of the stock is currently owned by corporate 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. 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.