Ashtead Technology (LON:AT) Stock Price Down 0.2% – Here’s What Happened

Ashtead Technology Holdings Plc (LON:AT) was down 0.2% during trading on Tuesday. The company traded as low as GBX 608 and last traded at GBX 608. Approximately 383,277 shares traded hands during mid-day trading, The stock had previously closed at GBX 609.

Analyst Ratings Changes

AT has been the subject of a number of analyst reports. Royal Bank Of Canada downgraded Ashtead Technology to a “sector perform” rating and dropped their price target for the company from GBX 560 to GBX 400 in a research note on Thursday, September 3rd. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a GBX 650 price objective on shares of Ashtead Technology in a research note on Wednesday, September 2nd. Canaccord Genuity Group decreased their target price on shares of Ashtead Technology from GBX 600 to GBX 500 and set a “buy” rating on the stock in a report on Thursday, September 17th. Finally, Berenberg Bank decreased their target price on shares of Ashtead Technology from GBX 700 to GBX 650 and set a “buy” rating on the stock in a report on Friday, August 21st. Five analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of GBX 587.50.

Ashtead Technology Trading Down 0.2%

The firm’s 50-day simple moving average is GBX 475.50 and its 200 day simple moving average is GBX 445.30. The company has a debt-to-equity ratio of 73.72, a current ratio of 2.21 and a quick ratio of 1.46. The firm has a market capitalization of £482.19 million, a price-to-earnings ratio of 19.63 and a beta of 0.41.

Ashtead Technology (LON:AT) last issued its earnings results on Tuesday, September 1st. The company reported GBX 20.60 earnings per share for the quarter. Ashtead Technology had a return on equity of 19.41% and a net margin of 15.56%. Equities analysts expect that Ashtead Technology Holdings Plc will post 42.82 earnings per share for the current year.

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.